Charter One Realty Blog - December, 2020

3 Reasons to be Optimistic About Real Estate in 2021

This year will be remembered for many reasons, and optimism is one thing that’s been in short supply since the spring. We’re experiencing a global pandemic, social unrest, an economic downturn, and natural disasters, just to name a few. The challenges brought on by the health crisis have also forced many homeowners to reevaluate their space and what they need in a home going into 2021. So, experts are forecasting that next year is one in which we can be optimistic about real estate for three key reasons.

1. The Economy Is Expected to Continue Improving

Tim Duy from the University of Oregon puts it this way:

“There is nothing fundamentally ‘broken’ in the economy that needs to heal…there was no obvious financial bubble driving excessive…

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November Real Estate Update for the Beaufort Region

Beaufort Real Estate Update | November 2020

November saw the Dow Jones Industrial Average top 30,000 for the first time, while mortgage rates reached new record lows again. These new records have provided encouragement for buyers to move forward on home purchases, which continued to remain strong overall for the month.

New listings in the Beaufort Region were up 8.3 percent to 222. Pending sales increased 56.4 percent to 244. Inventory shrank 41.0 percent to 544 units.

Prices moved higher as median sales price was up 12.6 percent to $270,168. Days on market decreased 20.5 percent to 70 days. Months supply of inventory was down 54.3 percent to 2.1 months, indicating that demand increased relative to supply.

Showing activity remains higher than…

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2021 Lowcountry New Year’s Eve Events

We are excited to celebrate the end of 2020 and start the New Year with hope and motivation to tackle our plans and projects. But first, we must reminisce on how far we have come!. Let’s set aside some time to reflect and think of how we can make next year better than ever.

Itching to get out your party outfits and wish 2020 a not-so-fond farewell? You aren’t the only one. Yes, our parties will be much smaller this year but we still managed to track down a few Lowcountry New Year’s events you can attend while wearing your most glamorous mask.

The last holiday of the season is usually host to the largest gatherings of all, but our caring community urges residents and visitors to mask up and maintain the necessary social distancing. Unfortunately,…

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2021 Interior Design Trends: What’s Coming

It is safe to say we are all looking forward to the New Year. 2020 has been tough in many ways for lots of folks here in the beloved Lowcountry. We’ve come together in many ways as well and as we close out this year, we look ahead with hope for a safe and beautiful 2021.

With so much of our time spent at home lately, freshening up our spaces has been top of mind. In keeping with our love of all things “home”,  we’ve rounded up 2021 interior design trends we think you’ll love.

If you didn’t get a chance to redo your interiors during 2020, you may have at least reimagined what your home could look like. Whether it’s embracing cozy colors, incorporating vintage items, or adding plants in your home, now is a great time to dream and plan a refresh. 

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How Remote Work Can Power Your Vacation Home Sale

This year, the opportunity to work remotely has increased the demand for vacation homes. Gay Cororaton, Senior Economist and Director of Housing and Commercial Research at the National Association of Realtors (NAR), notes:

Working from home is a positive factor in demand for vacation homes.

Buyers are taking advantage of the fact that working from home might be someplace other than their primary residence – at the beach, in the mountains, or somewhere in between. NAR explains:

Sales in vacation-home counties increased 48% on average year over year in the third quarter; overall, 81% of vacation-home counties saw a year-over-year sales increase.

Is it Time to Sell Your Vacation Home?

If you’ve been thinking about selling your…

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Why It Makes Sense to Sell Your House This Holiday Season

If you’re one of the many homeowners thinking about taking your house off the market for the holidays, hang on. You definitely don’t want to miss the great selling opportunity you have right now. Here’s why this month is the optimal time to make sure your house is available for holiday buyers.

The latest Existing Home Sales Report from The National Association of Realtors (NAR) shows the inventory of houses for sale has dropped to an astonishing all-time low. It now sits at a 2.5-month supply at the current sales pace.

Historically, a 6-month supply is necessary for a ‘normal’ or ‘neutral’ market, in which there are enough homes available for active buyers (See graph below):

When the supply of houses for sale is as low as it is today,…

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Palmetto Bluff Holiday Events

The holiday season is upon us! One of our favorite ways to celebrate is by attending one of the many Palmetto Bluff events that capture Lowcountry holiday spirit. This year’s celebrations and parties are not exactly what we are used to, but perhaps a break from the typical hustle and bustle of December is what we all need. 

For a classic southern escape to remember, check out Montage Palmetto Bluff. There is no place better to unwind and recharge, and they always feature holiday activities that we look forward to. In this article, we cover all the festive fun they have coming up in chronological order! 

Nightly Menorah Lighting 

Hanukkah begins Thursday, Dec. 10, and each evening, the Montage Palmetto Bluff Hotel is holding a…

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The Holidays Aren’t Stopping Homebuyers This Year

Black Friday and Cyber Monday are behind us, yet finding the perfect holiday gifts for friends and family is undoubtedly still top of mind for many right now. This year, there’s another type of buyer that’s very active this holiday season – the homebuyer.

Each month, Showing Time releases their Showing Index, which tracks the average number of appointments received on active U.S. house listings. The most recent index notes:

The Showing Index reported a 60.9 percent jump in nationwide showing traffic year over year in October, the sixth consecutive month to see an increase over last year.

Here’s the breakdown of the latest activity by region of the country compared to this time last year:

• The Northeast increased by 65.5%
• …

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November Real Estate Update for the Hilton Head Region

Hilton Head Real Estate Update | November 2020

November saw the Dow Jones Industrial Average top 30,000 for the first time, while mortgage rates reached new record lows again. These new records have provided encouragement for buyers to move forward on home purchases, which continued to remain strong overall for the month.

New Listings were up 13.4 percent to 549. Pending Sales increased 44.0 percent to 563. Inventory shrank 46.2 percent to 1,186 units.

Prices moved higher as the median sales price was up 28.5 percent to $391,850. Days on market decreased 7.9 percent to 129 days. Months supply of inventory was down 58.3 percent to 2.0 months, indicating that demand increased relative to supply.

Showing activity remains higher than the same…

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Lowcountry Real Estate Market Report - November 2020

Hilton Head Area Real Estate Market Report

Housing Supply Outlook - November 2020

Inventory remains constrained in most segments of the market, while buyer activity remains strong. With the holiday season upon us, both buyer and seller activity typically follow seasonal slowdowns before rebounding in the new year. For the 12-month period spanning December 2019 through November 2020, pending sales in the Hilton Head region were up 28.0 percent overall. The price range with the largest gain in sales was the $650,001 and above range, where they increased 86.0 percent.

The overall median sales price was up 13.0 percent to $363,700. The property type with the largest price gain was the condos / villas segment, where prices increased 15.6 percent to…

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