IT IS SO IMPORTANT TO UNDERSTAND HOW TO PRICE YOUR HOME IN TODAY'S MARKET. AS A SEABROOK ISLAND REAL ESTATE OWNER I APPRECIATE THAT WHEN THE TIME COMES TO SELL, WE ALL TYPICALLY WANT THE SAME THINGS: AN ACCEPTABLE PRICE AND TERMS THAT MEET OUR NEEDS. IF YOU'RE CONSIDERING SELLING YOUR SEABROOK ISLAND HOME
, YOU'LL WANT TO UNDERSTAND AND CONSIDER HOW THE ITEMS BELOW WILL INFLUENCE THE LISTING PRICE AND SALE OF YOUR HOME. OTHERWISE, LIKE MANY OTHER SELLERS, YOU MAY LEAVE TENS OF THOUSANDS OF DOLLARS ON THE TABLE.
What is a Seller's Market in Real Estate?
According to rocket mortgage, "a seller's market is when demand exceeds supply. In other words, there are many interested buyers, but the real estate inventory is low. Since there are fewer homes available, sellers are at an advantage. In a seller's market, homes sell faster, and buyers must compete with each other in order to score a property."
At the time of publication, there were 21 properties for sale on Seabrook Island. That included: 11 single-family detached homes that are available to move in, 4 proposed homes to be built, and 6 attached properties, 2 of which are also pre-construction listings. According to the definition above, our current inventory and high demand indicate that Seabrook Island is in a seller's market.
Seller Motivation on Seabrook Island:
Sale prices are directly related to the estimated value of the property and the seller's level of motivation. A seller who needs a quick sale will often set a lower list price. Whereas a seller who does not need a quick sale will list their property relative to the current real estate market value, consider current market conditions, and wait for the home to sell at their desired price and terms. If you are considering listing your home on Seabrook Island you would do well to ask yourself: Do I need to sell now? or can I wait for my price and terms to be met? How much money am I willing to leave on the table?
If you want your home to compare then you will price it according to recent Real Estate Seabrook Island South Carolina
sales. In realtor terms, "you'll base it on the comps." Whereas if you want your home to compete, you'll consider the comps and use current Seabrook Island real estate market conditions to list your home at a price that has the potential to yield you a greater return. Otherwise, like many other sellers on Homes For Sale on Seabrook Island South Carolina
, you will be leaving tens of thousands of dollars on the table. If you look at the record of current days on the market, you may be shocked to see the short time frame at which many of our Seabrook Island homes for sale are receiving an acceptable offer. This indicates that there are multiple buyers fighting to own a home on Seabrook Island and that in some cases, these homes for sale are being priced too low.
Additional things to consider if your property is Seabrook Island Real Estate For Sale: If your property is the only one of its kind on the market, you are at an advantage and would do well to consider exploring a higher listing price. And don't let the fear of appraising be your deciding factor. Most of our buyers are coming with cash, no appraisal is necessary.
Additional Questions to Ask Before Selling Your Seabrook Island Home For Sale:
Does the listing agent have an affinity for Seabrook Island?
Does he/she appreciate your home?
Does he/she appreciate the value of owning and living in a private gated community?
Is the agent taking market value and conditions into consideration when suggesting a list price? or are they suggesting a price that is lower than market value? and leaving your money on the table.
If you're interested in a fresh perspective and want to know if you should list your home to compare or compete in today's market?
Additional things to consider
One of a Kind: If your property is the only one of its kind on the market, you are at an advantage and would do well to consider exploring a higher listing price
Appraisal: Don't let the fear of appraising be your deciding factor. Most of our buyers are coming with cash, no appraisal is necessary
Additional questions to ask before selling your Seabrook Island home:
Affinity: Does the listing agent have an affinity for Seabrook Island?
Appreciation: Does he/she appreciate your home?
Value: Does he/she appreciate the value of owning and living in a private gated community?
Real Estate Agent: Is the agent taking market value and conditions into consideration when suggesting a list price? or are they suggesting a price that is lower than market value? and leaving your money on the table.