The Mt. Pleasant Market... today.
Welcome news for Buyers. This Spring saw a big increase in new inventory across Mount Pleasant with pending sales lagging behind years' past.
Is this a sign of the market losing steam or just your typical seasonal trends? We're seeing new listings coming online at a greater volume than closings taking homes off the market. The months supply of homes (Inventory) is now over 4 months, the highest it's been in over 5 years. Keep in mind though, we're still well below the industry standard of 6 months for a balanced market.
Be ready to act! If the trend of new listings outpacing closings continue, you might expect prices to cool a bit. However, pending sales for April are 10% higher than this time last year and prices are still rising more than 5%. Regardless if you're a Buyer or a Seller, be prepared to act quickly and assertively because things are moving quickly.