LAKE MURRAY AND MIDLANDS HOMES SALES BRISK IN SPITE OF PANDEMIC
As the pandemic hit the midlands in full swing, many in the real estate world thought sales and home prices would take a dive. To the contrary, Lake Murray real estate expert Brent Downing says it has done quite the opposite. “We all paused for a moment when businesses started shutting down last spring, not knowing how the real estate market would be affected. Thankfully instead of it slowing down, it has actually boomed!” Downing said. “Inventories in the midland are at all time lows (1.5 months as of this writing) with interest rates also at all time lows (sub 3% as of this writing), perfect conditions for homeowners to sell their homes assuming of course they are priced right, in good condition and marketed properly.”
When asked specifically about Lake Murray homes and the luxury market in general, Downing added “If they are priced right, in good condition and marketed properly, I’ve never seen Lake Murray homes sell as quickly for as much money in my entire real estate career”. “That said, the worst thing a homeowner can do right now is try to sell it on their own or go with the inexperienced discount brokers who routinely underprice property and encourage homeowners to take less than what the market will bring, just to get it off their books.”“An experienced, seasoned Lake/Luxury agent will know what the market will bring and will likely have a stable of buyers they or their team are working with that are waiting on the right home to become available and will ensure the homeowner gets top dollar for their home. The market is just that good right now”, he claimed.
Asked what the top agent on Lake Murray and the Midlands since 2011 thinks the outlook for the Midlands real estate market prediction looks like going forward, Downing said “There are a few camps out there regarding what will happen with the economy throughout the nation but I believe we here in the Midlands have a great economic environment at least for now.”
“At this point it’s hard to predict out more than a year, however the short term looks great for homeowners here in the Midlands. Never have I seen a better time to sell than now. Homeowners just need the right guidance to make sure they don’t miss their opportunity.”
He added “Depending on which study you look at, South Carolina is either the second or third highest state for interstate migration within the US. People have been moving here in droves from the rust belt and now it appears even more big northern cities will experience more population decline.” “With the inventory and interest rates being as low as they are as well as there being such a demand, I’ve never seen better times. Our team has so many buyers looking right now, I just wish we had more homes to sell them!”