04/17/2023
🌸 As the Spring real estate market awakens, I am thrilled to present our Quarter 1 Market reports for the area! My marketing and operations teams compiled this Market Report and designed it to illuminate the overall market movement across the Lowcountry, specific neighborhood statistics and trends, as well as how I am positioning myself to bring value to all of my preferred clients and partners.
🧐 Compared to last year, the national market is down across the board, with our market being no exception. While the Lowcountry historically outperforms other areas and regions, the same inventory issues that plague other major markets nationwide also affect us. The inventory problem limits the number of sales and overall activity. Reviewing the statistics shows a universal downward trend in the number of transactions due to this lack of inventory. Surprisingly, yearly price increases remain significant, indicating a strong demand for homes in our area. Both price per square foot and average sales price are up in most of our micro-markets. Days on the market (DOM) also trends upward while the average list price to sale ratio is slightly down, indicating sellers are experiencing further negotiation with buyers, usually due to aspirational pricing models. A careful analysis of the local area and pricing a property correctly at the outset is the best way for sellers to realize the highest gain.
A bright spot in a somewhat lukewarm national picture remains that Daniel Ravenel Sotheby's International Realty agents, like myself, continue to excel and outperform the market through our high level of service and exclusive marketing programs. We continue to transact at the top, middle, and lower ends of the market, serving each client with poise regardless of the price of the home and winning bidding wars for our buyers. My company has obtained national media attention for our listings this past month, and I am grateful for the opportunity to present our Lowcountry area to a global audience. Reach out today to find out how you can leverage my professional experience, local knowledge, and global reach to take advantage of a continuously shifting market
