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Keller Williams Realty in Upstate South Carolina

by Farris McCall

Western Upstate MLS shows a current inventory of 3,269 residential properties currently listed for sale. With an average of 216 residential properties having sold per month in 2013, we have approximately 15.1 months worth of inventory. Seven months worth of inventory defines a buyer’s market.

The current average listing throughout the western Upstate MLS is $260,573, while the median listing price (price where the most homes are listed) is $169900. For those homes currently listed for sale, the average days on the market is 190.

The current average sold price throughout the western Upstate MLS is $156,143, while the median sold price (price where most homes have sold) is $120,500. For those homes that sold this year, the average days on market are 122. Further, the average price negotiation (negotiation that occurred in most homes) is 3.9% off the listing price.

Keller Williams Western Upstate continues to be the #1 firm in the Western Upstate MLS with 174 units sold year to date. This represents over $21 million in sales volume for the year! Current, with 97 associates and service areas from Greenville, Easley, Powdersville, Anderson, Clemson, Seneca and all points between, Keller Williams Western Upstate is positioned to service our clients needs throughout the Upstate of South Carolina

 

 

*All data given above is from western Upstate MLS date April 9 2013

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Should I Buy a Home Now?

by Farris McCall

I'm often asked if this is a good time to buy a home. Some clients are concerned that home prices may fall further than they have already. They are assuming that the best course of action is to wait for the bottom in the market and then buy. The problem with this approach is that you don't know where the bottom is until you see it in the rear view mirror, meaning until you've missed it!

Home prices are one factor in determining your cost of ownership, but so are interest rates and financing availability. Even though interest rates have gone up in the last six months, they are still near historic lows. Since your monthly mortgage payment is a combination of paying down your principal and paying the interest owed, if home prices come down a little further but interest rates up, it could cost you even more to service a mortgage on an identical home!

While a home is a major investment, it is also the center of your personal life. It's important to live in a home that reflects your taste and values, yet is within your financial "comfort zone." To that end, it may be more important to lock in today's relatively low interest rates and low home prices, rather than to hope for a further break in prices in the future.

Please give me a call if I can be of any assistance in determining how much home you can afford in today's market.

Displaying blog entries 31-32 of 32