Should You Buy Right Now or Wait Until Spring?

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Today we are going to talk about whether it’s a good time to buy a home in South Carolina. We think it’s an excellent time to buy, and here are a few reasons why:

• Property values are going up again. This is good news for sellers and a helpful push to buyers that have been on the fence. What you can buy for a dollar today may cost $1.50 in a few months.
• Interest rates are primed to increase. They haven’t gone up yet, but a simple 1% increase on a $200,000 loan will increase your monthly mortgage payment by around $120
  
  

If you’re thinking about buying in the near future, this might be the time to go and start looking. In the winter months, sellers are also a little more willing to negotiate because of the decreased number of buyers.

If you have any questions, or want to start looking at homes today, give us a call or send us an email. We can’t wait to hear from you!

 

What's Happening with Columbia Real Estate?

How is the real estate market in Columbia doing? Today, we'll compare numbers from the first of this year to the same time period in 2014.

Buying a Columbia Home? Search all Homes for Sale  
Selling a Columbia Home? Check out our FREE Home Value Report

How is the real estate market in Columbia doing? We looked back from the first of this year through to now. Today, we'll compare those numbers to the same time period in 2014.

Right now, there are 27,000 active properties on the market. That is down 1% from last year, which is good news. Properties are being absorbed by a quicker rate now compared to last year.

This year, the average sales price was a little over $178,000, which is up 4% from last year. That's a 4% appreciation, which is great news! Properties are going up in value.
 
This year, 10,000 homes have sold in our area. Since there are still 27,000 active homes on the market, we know that over a third of homes are selling. That places us in a slight buyer's market. We're not in a raging buyer's market, but there is more inventory available than what's moving.

Finally, the list to sales price ratio is up 0.5%. This means that sellers are 0.5% closer to getting their list price this year than last year.

As you can see, volume is up, inventory is down, and sales prices are up. This is great news! We expect this great news to continue into 2016. While the market is up 3% overall, our team is up 11% year over year.

If you have any questions, give us a call or send us an email. We look forward to hearing from you!