Home Values
We are seeing price adjustments locally, but it doesn’t necessarily mean that home values are declining. Instead, it’s a sign that demand is moderating. Locally, there has been an adjustment over the past 2 months, and we are seeing less homes go under contract but some of that could be seasonality. Schools getting out, summer vacations, and many folks escaping north for cooler climates.
As more homes are listed, the market is becoming more balanced, and we are having many conversations each week with sellers moving for a variety of reasons. As these homes compete with each other, we will see what happens to home prices.
A recent article from Keeping Current Matters accurately stated, “Today’s buyers are savvy customers, and when they aren’t willing to pay a premium for a home because their budgets are strained by higher mortgage rates, sellers need to adjust.”
It is important to work with an experienced Realtor that knows the market and works with both buyers and sellers. The Ussery Group continues to be the #1 Real Estate Team in the Lowcountry. Please give us a call so we can sit down and go through an in-depth market analysis on your home.
Our Thanks,
Johnny & Jeff
