MARKET STATISTICS
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UNDERSTANDING THE MARKET
There’s a lot of talk about the real estate market on any given day. Understanding the market can mean a successful sale or an unsuccessful one. The problem is that people often find understanding the real estate market difficult. Staring at countless charts and numbers can be confusing if you don’t know what you’re looking at. Don’t worry. The team at Drew Sineath & Associates has taken the time to keep you up to date with the market statistics for the Lowcountry. Why? Because we’re passionate about empowering you.
Are you looking for your dream home in Charleston? Looking to sell your home, but not sure where to start?
Business is booming
Simply put, 2020 was a year that the Charleston housing market won’t soon forget. On the heels of the COVID-19 lockdowns in the early spring of 2020, house sales spiked in the Charleston area and haven’t looked back since. In fact, Charleston currently sits atop the standings of the most active housing markets on record for our major listing service (MLS).
We currently have approximately 1,400 active MLS listings, which is the smallest this number has been since the 1980s. We are about 10,000 listings shy of balancing the market (which means that it’s neither a buyer’s market nor a seller’s market). In a balanced market, we’d have six months’ worth of inventory, but instead, the Charleston market barely has one months’ worth of inventory. That’s a new record low.
Eyes on the future
Part of how we stay on top in the real estate world is by always making sure we’re looking ahead. Here are some things we’ll be keeping an eye on as 2021 progresses.
Strong Market
Though 2020 saw a meteoric rise in the number of house sales, 2021 is looking like it could be even stronger. The first few months of 2021 have already seen more sales than the first few months of 2020.
foreclosure decline
Another thing to watch out for in the rest of 2021 is the continued decline of the short sale and foreclosure market. As of now, short sales and foreclosures make up less than 1% of the Charleston market.
Record Sales Numbers
Additionally, houses that have been valued at over one million dollars have enjoyed record sales numbers over the past ten months in the Charleston area. One main reason for this is that a large number of Charleston residents are taking this time to upgrade to more expensive houses, which include either waterfront property or more square footage. Another main reason is that Charleston is seeing an influx of home buyers from external markets, particularly the northeast and the west coast, who are looking to settle in a charming southern city with great weather year-round.
Don’t Take Our Word For It. Here’s What Our Clients Say
"Drew was great to work with from beginning to end. We were on a time crunch, and he got it listed and under contract in the same weekend. "
I can only speak from the heart and from experience and Drew Sineath is dah man! He was able to deal with both Lauren an I (miracles happen everyday.) When he noticed tension he would call with words of Wisdom and prayer. He would even stop by and do an in person prayer. Both times that happened you felt the Holy Spirit! More than just business involved. He was our spiritual leader. Very professional. He wants equal happiness for both parties. He had alot of extra stuff he didn't have to do for me but he did. Never once did I have any doubt, scared to death but never any doubt. Thank you all for your prayers and thank you Drew for saving my family and I from potential disaster after disaster. I love you all with all of my hearts! "
Drew is not just a top notch realtor, he’s part of our family. He has always catered to our needs and listened. He’s always patient with me. (I tend to be pretty needy). We have a peace of mind to know Drew is always there when we need him. I always recommend him to friends and family.
John Harvick did a great job! Highly recommend him.
Drew Sineath and his team got us a house in about three weeks! Is that some kind of record? We love our home and the process was smooth. We knew nothing about this process when we started but he lead us through the process answering all our questions so we understood what was going on. We’re so thankful for Drew’s expertise in home buying/selling.
Drew and Erin were outstanding! Drew went above and beyond to make sure we were well informed about every aspect of the sale of our home and the purchase of our new home. Drew was in constant communication with us and was very quick to respond when we had questions. He’s very knowledgeable about the real estate market. Erin had everything in order that dealt with our closing documents and made it a breeze . She was very organized . We would definitely use them again . If you want professional and first class service call Drew .
I have known Drew for decades by now and have bought and sold several homes with his help. He is very knowledgeable and responsive to his clients needs. Real estate transactions can be very stressful and knowing that he would always be available and work hard for us helped tremendously.
Drew came in to our home on day 1, fully prepared and confident! We quickly knew that we would select him as our agent! He helped us sell our home quickly, and also helped out just as well with our purchase!
John and Drew were attentive, responsive, and professional. They made our move from California to South Carolina a joy
Drew did an amazing job walking us through the process. We sold our house before it went into the market and for that we are greatful.
We had a great experience with Drew as our real estate agent. He was professional and was a great communicator from beginning to end. Drew made sure that both transactions of selling and buying a new home went smoothly. We had a great experience and I highly recommend Drew and his team. They made the process easy for us.
Drew helped me with the sale of my home, and he did an outstanding job! He made the process so quick and easy, and I would highly recommend Drew for all real estate needs.
Once we told Drew what we were looking for he was very supportive describing the areas to us and was very quick to find us our forever home.
Drew was fantastic in our real estate transaction. He not only sold our property fast, but he was able to negotiate our asking price up by $20,000. Drew was very easy to work with and kept us informed of everything going on. I highly recommend Drew for your real estate needs.
Drew was amazing! Walked us through our first time buying a house every step of the way. Always around when needed and quick to answer the phone when we had questions.
We had a great experience with Drew Sineath and Carolina One in selling our home. We will recommend them to our friends in the Summerville area.
The way a agent should be. Honest upfront and fast with plans to sell. Very happy and Drew is great to work with.
Thanks for your services!
It was a pleasure working with Drew. He kept in touch with us so we always knew what was happening with the sale of our home. We were always able to reach him with any questions we had. We highly recommend Drew or any of his associates for your real estate needs.
We were quite surprised that we had an offer before our home was officially listed. Drew and his associates worked hard to "seal the deal." If you are looking to buy a home or sell a home, there is no agent in the Low Country with more experience and talent than Drew Sineath. In our situation, we were selling a second home while we were out of state. Drew and his associates took time to answer several of our questions during the selling process. If we ever decide to relocate to the Low Country, Drew Sineath will be my first contact.
My experience with Drew was outstanding. He gave us great advice that helped us sell the house within a week of posting it for sale. He also work really hard to make sure that everything was a smooth transition to our new house as well.
Drew helped us so much. With us being first time home buyers, we had no idea what we were doing. Drew sat us down, got to know us. Understood our wants and needs. Worked for us late hours, while he was on vacation, and during the holidays. I couldn’t ask for a better realtor!
Drew Sineath & Associates made my home selling and buying experience extremely easy. Everyone in the office was friendly, helpful, and placed priority on prompt communication.
The folks at Drew Sineath & Associates were professional, diligent, and eager to please. Everything went wonderful with the sale of our home. I just have two things to say to folks trying to sell their home: 1. Don't do it yourself and 2. Call Drew Sineath.
We were just as impressed with Drew and his team this time as we were when he assisted us in selling our home over 10 years ago! Every one of his team members worked above and beyond to make this process as smooth as possible! Thank you Drew and team!!!
I cannot put into words how exceptional their team was. Though I was living out of state, I knew each and every time the house was scheduled to be shown and received feedback on the showing within 24 hours. Their team emailed me promptly when updated information was needed and even communicated with me outside of regular business hours to adjust to my work schedule. I would highly recommend this team to anyone and everyone. Not only are they professional, they are also honest and truly work with their clients to meet their needs.
Drew and his staff are willing to go the extra mile. My impression of Drew Sineath & Associates is that of a Christian based business that should be a model for all. Drew and his staff are wonderful. They all have wonderful personalities and are a pleasure to do business with.
Drew and his entire team went above and beyond for me and my family!! They answered any questions I had no matter what time on day. I will definitely use this team again!!!!
Drew is a 1st class individual. His knowledge and professionalism is excellent.
For an out-of-state real estate transaction, this was EASY! Drew outlined a path to accomplish the deal and executed the plan without issue.
We have bought and sold a few homes in our 32 years of marriage, and Drew Sineath & Associates made what is usually a very stressful experience seem like a walk in the park.
It was a pleasure to work with Drew and his crew. They made the whole selling and buying experience smooth and easy. Great agency!
Drew and his team went to work immediately to sell my home. They assisted me with updating the curb appeal, keeping the yard maintained, and making the sale happen. This team is local people who know the market and know how to get the job done.
I rarely give all stars for anything but Drew really earned them. My individual concerns and needs were all addressed so that we could get the best possible deal. When my father passed and I had to leave the area for several months during which time my house was placed on the market he kept me up to date on the daily interest and activity on my home. My mother even raved about the almost daily viewings of my home. Most importantly he truly does have the heart of a teacher and I would recommend his expertise in any Real Estate transaction you may want.
This company knows Goose Creek and Summerville. It was as if a neighbor was helping us find our home! I would highly recommend them!
We have sold several properties with Drew and have been very pleased. We look forward to working with him in the future.
Drew Sineath & Associates made my home selling and buying experience extremely easy. Everyone in the office was friendly, helpful, and placed priority on prompt communication.
Drew took the time to explain everything and lead me through the process, making my move easier.
Enjoyed the experience. Drew's crew did a great job.
Drew Sineath & Associates are fast, hard working, and great to work with.
Drew Sineath & Associates is very knowledgable and experienced. Great to work with during the entire time my house was on the market. They kept me informed during the entire process. I would recommend this Realtor® company to my friends or anyone who is considering putting their Home on the market.
Drew and the team at Drew Sineath & Associates did an incredible job selling our house above asking price before it was even listed. Yes, before it was even listed and above asking price! And then they helped us purchase our dream home.
Drew Sineath & Associates made our selling/buying experience less stressful. They answered any questions we had and kept in good contact.
Drew made selling my house easy. He took all of the pressure off me. We had a contract in 7 days at full price! I would love to work with Drew again.
Drew did a great job advising me on the home improvements needed to maximize the value of my home. The listing was very well done and brought multiple potential buyers to the table within the first couple of days. His advice through the entire process was sound and left me confident and in control of the process. Highly recommend.
Drew Sineath is a fantastic agent. He was truly like a friend to us throughout the process of selling our house. He is knowledgeable, professional, personable, and genuine. He is just a phone call or text away at any time and responds quickly to answer all questions. We highly recommend .
Drew Sineath is a fantastic agent. He was truly like a friend to us throughout the process of selling our house. He is knowledgeable, professional, personable, and genuine. He is just a phone call or text away at any time and responds quickly to answer all questions. We highly recommend .
You kept me informed with everything that was going on during our home buying process. If I had questions, you were there to answer them. And when I want to sell or buy another house, I will be calling you. Again, THANK YOU!!!
I was very pleased with the buying and selling process that Drew handled for us. He helped us sell our home in a matter of days and at the same time purchase a new home within a month. Drew was upfront about everything and kept my wife and I in the loop through the whole process. We would recommend Drew to anyone wanting to sell or buy a home.
Drew was very helpful and professional. The property was located 900 miles away from where we lived making it difficult to take care of. Drew made sure all of the repairs, legalities and procedures were taken care of in a timely matter providing us with a great deal of assurance.Very helpful and provided quality council. He and his team were very responsive to our questions and concerns. We strongly recommend Drew and his team.
Drew responded immediately to my request for a meeting. He spent hours showing me his agency and the people who support him. He made me feel like was his only client and moved the process along professionally and quickly. We listed my house on Thursday and had a contract on Saturday. I couldn't have been more pleased.
Drew helped us get our house ready to sell, with multiple contractors needing managed, and got it sold the first weekend it was on the market. 10/10.
We were extremely happy with Drew's help. He made our first home buying experience pleasant. He seems to very knowledgeable about many different aspects of real estate. I always felt like he was looking out for our best interests.
Drew's and his Team did an outstanding job once again we have used them several times and always outstanding.
When we initially attempted to sell the property the market was down - we were underwater. He prayed with us and recommended that we rent the property until the market recovers. 7 years later we were finally ready to sell. He had our best interest in mind the whole time.
Couldn’t be more pleased with the service that Drew provided as our realtor. As first time home buyers, we were in new territory, but Drew made sure that we were always well-informed and felt comfortable throughout the process. He was always quick and happy to answer any questions that we had and found us a home that we love! Highly recommend!
Drew and his team were able to get my house sold for the asking price in just over a month in the Fall. If you need to get your house sold in Goose Creek - Call Drew.
Drew Sineath & Associates were a breeze to work with. They kept us informed and motivated throughout the entire home purchasing process. We would highly recommend them to anyone in search of a new home in the Charleston and greater Charleston areas. Their knowledge of the area was helpful and they gave good recommendations for local services and businesses to help us get our home ready and settled. Thank you again for your incredible service.
We lived in Ohio when we started working with Drew in April 2018. As a friend of of son-in-law and daughter, we heard nothing but good things about Drew and trusted him in finding a new place for us. After many trips here and several false starts with putting down deposits on property and homes, he found us a great home that worked for us in August. His knowledge of the local market, his insight in dealing with problems that popped up and his listening to what we were looking for really was helpful. He had good advice, but left up the ultimate decisions to us. We highly recommend him. Drew is a man of integrity and has a wealth of knowledge in the real estate business.
Drew Sineath is a good realtor and gives you a lot of easy steps on how to sell your house. I highly recommend him.
Drew walked us thru the whole buying process; from MANY showings to a sneak preview & perfect offer of THE ONE. And then when we had an out of state delay selling our previous home he kept us focused on the prize and thru wonderful communication between the 4 realtors & 4 lawyers involved in the domino process there were 3 seamless closings in 4 hours 900 miles apart. Drew & his team along with his closers and the unforgettable James @ Midland Mortgage helped get our family back under 1 roof. Thank You!
Drew Sineath did a wonderful job throughout and delivered an easy experience for the sale of our home. He dealt with each issue professionally and was extremely responsive and helpful. We couldn't ask for a better experience! Thanks
Drew did an amazing job. Definitely worth every penny. He really know his stuff. He has a lasting impression in the community for a reason and it shows.
This is the first time we ever sold a house. Drew gave us peace of mind and communicated very well with us despite us being states away and in a different timezone. More than once he took care of a problem before we were even aware of it. He is dedicated and has a heart for the community, we couldn't expect more from the best agent we have ever dealt with. Thank you to Drew and his whole team!
I was 500 miles away and not available to present for any part of the transaction. Yet, despite this, Drew put the deal together quickly, efficiently, and honestly, Great job!
First class customer service every step of the way. One of the most intimidating and biggest milestones in one's life was a breeze for me because of THIS team.
Drew and Associates was wonderful to work with. Our property sold for $15,100 over the asking price! In less than a week we had multiple offers!! This was an exciting and smooth experience.
I was totally and completely satisfied with Drew Sineath and his team as I purchased a home through them and I also sold a home through them. They were professional and attentive to our needs in every way. They were attentive to all the details no matter how large or small. I’m old and grouchy and they were able to please me in the way they handled situations throughout the process of buying and selling. If they were able to please me I feel that they could please anyone and have no problem recommending them to anyone.
Drew Sineath is a committed agent who takes the lead for what is in the best interest for us. If there is a problem Drew is willing and more than able to address the issue at hand and do it doing his best to be fair to all parties involved. I have had my fill of high pressure sales people and believe me when I say that Drew is just the opposite. He’s a man of integrity that will lay the facts out and then you can make your own decisions. I would recommend him to anyone who’s either buying, selling or both. Thanks Drew for all of your help.
Drew and his team have been attentive to listening to our requirements for a new house and finding properties that met those requirements. His team has taken the anxiety out of the home buying experience from start to closing. Very detail-oriented and follows through with his commitments.
I “interviewed” several agents before choosing Drew and it was the best decision I could have made. Here are just some of the reasons why: 1) Drew coordinated all of the necessary repairs that needed to be made as I was selling the home from out of state. 2) He took the time to discuss my options and always explained things to me so I always made the best decision for my family. 3) He is a problem solver and drove the process from start to finish. He will be as involved or hands-off as you need him to be. 4) Although this is listed last, it was the most important for me. I called Drew no less than 50 times during the process and he actually answers the phone. On the one occasion when he didn’t answer, he texted me back that minute and told me when he would call back. Drew “answered the call” for me and my family and I felt that he really cared about us during the whole process. He is THE MAN when it comes to selling a home, and he sets the bar high for any agents in the future.
Drew listed our house on a Tuesday and Thursday the 1st showing offered us full price. My house had been on the market for 1 year with another realtor.
We had a great experience with Drew Sineath! He found us our dream house and a closing in less than 3 weeks. The process was so easy, it didn’t feel real! Drew was a second away with any question I had through the process.
Drew did a fantastic job helping us sell our house last year in just 7 days!!!
I have to thank Drew and all his associates for their teamwork and their help during my sale of my previous home and the purchase of my new home. I can certainly say I would recommend Drew Sineath & Associates to anyone who is seeking to meet Real Estate needs. Thanks, again.
This company truly is your best hope to get your home sold in today's market. They work very hard to complete the task. Customer satisfaction truly is their number one goal.