FLORENCE, S.C. (WBTW) — Regardless of COVID, South Carolina skilled a report yr in 2020 with regards to actual property.
In accordance with a report from South Carolina Realtors on the state’s housing market, there have been 101,500 closed gross sales within the Palmetto State in 2020.
President of the Pee Dee Realtor Affiliation Nell Folkens says that’s essentially the most ever recorded for South Carolina.
“It’s a vendor’s market proper now,” Folkens stated. “You place a home available on the market and… it’s going to promote shortly.”
Within the Pee Dee area, there have been at the very least 150 extra properties offered in 2020 than 2019. The realm additionally attracted many new brokers.
South Carolina general noticed a 36.8 p.c dip within the stock of properties on the market, and specialists say there’s a want for extra properties available on the market.
“While you see rates of interest drop, individuals are extra curious about shopping for properties at the moment as a result of clearly their funds shall be decrease,” Folkens stated.
Dealer-in-charge and proprietor at Drayton Realty Group Ashley Drayton says there are different drivers of the growth other than the low rates of interest.
“Individuals are shifting right here as a result of they don’t must dwell within the bigger cities,” he stated “The life-style right here is extra interesting to them.”
Drayton stated he noticed main progress in his enterprise in 2020. Specialists count on the upswing to proceed into 2021.
He says one other power at play is the slowed constructing of properties as a result of provide chain points and value.
“Properties are promoting quicker,” he stated “Usually our flip occasions was once 90 days. Now we’re advertising and marketing in days and weeks. Very fast turnaround occasions. So due to this fact prices- you’ll be able to positively get what you need however whenever you go on the market to take a look at properties you bought to decide.”