Some folks say if you want to understand the importance of timing, consider the avocado. Unripe for days, perfect for a few hours, forevermore spoiled.
Fair enough.
Then again, consider the banana. Sure, there is an ideal time to consume them in their basic, most portable condition. But green, firm bananas make great fritters. And banana bread calls for the some pretty old, smushy flesh.
We kind of favor the banana as the metaphor to residential real estate selling in Charleston. Sure, there may be that window of time when listing is most optimal – generally considered the spring. But impatience or procrastination does not doom a seller in a market like ours.
In fact, as the warmer season opened in Charleston, buyers were eagerly postured for a shotgun start… only to find themselves in serious competition for the region’s relatively low inventory. According to the Charleston Trident Association of Realtors, volume of sales for the year so far is up 1.1% over January through May 2017, and the number of homes sold last month nearly matched volume in May 2017.
The age-old expectation is that this time of year yields numbers that make the other seasons envious. But you can’t buy what isn’t for sale.
Still, a recent article from U.S. News & World Report suggests there’s enough low-lying fruit to go around; it just may be up to buyers and sellers to determine how ripe they’re willing to let it get. Late spring yields hungrier home-seekers, so sellers are often advised to list by May. Competition for homes thins out in late summer, so buyers picking in the season’s wane may be rewarded with negotiating power (and elbow room).
The market is hot in Charleston, with folks looking to relocate here year-round. Perhaps we shouldn’t be surprised when winter home sales data mimics that of spring (have you been to Ohio/Michigan/New York/Pennsylvania in January?). Timing may be something, but here, it isn’t everything.
That said, carpe diem with that avocado. The banana can wait.
Interested in learning more about listing your home or want some insight on market timing? Contact the KSRE team today – we’re here to help.
