Charleston SC Homes For Sale : October 2016 National Housing Trends

The Charleston, South Carolina area is a great place to live or have a vacation home. The weather is great, the beaches are fantastic, golf courses are abundant, there are many historical sites, the architecture is unbelievable, the dining is unbeatable, and the people are the friendliest in the country. It is because of these reasons that I believe Charleston SC Homes are truly unique. I look forward to helping you with any of your Charleston SC Homes For Sale needs in Charleston, Berkeley, or Dorchester counties. Today’s article is titled:

Charleston SC Homes For Sale : October 2016 National Housing Trends

Charleston SC Homes For Sale : October 2016 National Housing Trends

Sales-to-List Price Ratio Down Sharply

Signs of a slowing housing market emerged as summer ended, according to results from the latest Campbell/Inside Mortgage Finance HousingPulse Tracking Survey. The national sales-to-list price ratio on non-distressed properties declined sharply and average home prices for such properties also declined.
 
After six consecutive monthly increases, the sales-to-list price ratio on nondistressed properties fell to 98.0% in September, based on a three-month moving average. The ratio peaked at 98.6% in August.
 
“Sellers are learning they need to have all issues resolved before placing the house on the market or the buyers will ask for reductions in excess of the cost of the repair,” said an agent in New Hampshire. “It is placing buyers and sellers in a
stalemate during negotiations.”
 
Real estate agents note that there’s still plenty of demand for lower-priced homes while the market for higher-priced properties has slowed. “Homes under $350,000 are moving quickly with multiple offers if they are updated,” said an agent in Arizona. “Homes between $450,000 and $1,000,000 are on the market much longer.”
 
Regionally, only the Pacific Northwest maintained a sales-to-list price ratio above 100.0% in September, with a ratio of 101.1%. The average ratio in California during the month was 99.7% and the Northeast had the lowest average sales-to-list price ratio in September at 96.3%.  Learn more about the October 2016 National Housing Trends here.

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