By HEATHER WALTERS
Local real estate experts say that 2021 is bringing more buyers into the local real estate market, which still needs more listed homes to keep up with inventory demand.
“The market certainly remains strong, and has remained stable for a while,” said Cyndi Brewer Roberts, a real estate broker for Team Mako with Local Homes and Land in Colleton County. Roberts has been a realtor for six years.
According to her, there are currently 46 homes for sale in Colleton County. This is from January 30th. In 2021, she had 17 houses sold in the municipality.
In 2020, 302 houses were sold in the municipality. “This totaled just over $ 53 million, with an average list price of $ 183,509,” said Roberts. It attributes a continuing housing boom in Lowcountry to contributing to steady sales growth, along with current low interest rates.
Roberts said the average selling price in 2020 for his real estate company was around $ 176,655.
To compare this year to last year, local broker Cal Griffin said the pandemic certainly impacted the local market in 2020. But Griffin calls the period following the initial 2020 pandemic blockade a “real estate tsunami.”
Griffin is with Re / Max All Country. He has been a real estate agent in Colleton County since 2005.
“People panicked and everything stopped. We were all wondering how we were going to feed our families, ”he said, talking about when the COVID-19 pandemic hit Lowcountry in 2020.“ After a few weeks of blockade, something we could never have predicted has happened. It was a real estate tsunami, ”he said. “The phones started ringing and e-mail questions flooded the office. Buyers across the country have started buying houses in Walterboro, ”he said. “Most houses had several offers just hours after being listed on the market. Almost everything listed was sold. “
Griffin said Colleton home sales in 2020 increased by about 5.2%. However, the stock fell about 39%, he said.
According to the SC Housing Market annual report, compiled by SC Realtors, closings in South Carolina also increased by 4% in 2019. This report also states that the number of home sales is increasing, while the number of homes placed in the market for sale is falling, about 3.9%.
According to the SC Housing Market annual report, compiled by SC Realtors, closings in South Carolina also increased by 4% in 2019. This report also states that the number of sales is growing, while the number of homes placed on the market for sale is falling, about 3.9 percent.
“All economists and industry experts are calling for another exceptional year,” said Griffin. “They expect interest rates to remain very low and demand high. With inventory being so low, multiple supply situations will continue. “
According to him, South Carolina and North Carolina are the main migrant states from places like NY, Ohio and Indiana. “People are moving towards warmer climates, rural areas and cheaper property taxes,” he said.