The real estate news is ablaze with the exact same story repeating itself in many areas of our country. There are far more buyers than sellers meaning multiple-offers, highest and best offers, and bidding wars resulting in many properties going well above the asking price. This requires us to be pros at discovering strategies to guarantee that you get the house you want!
The real estate market has remained this competitive and explosive for at least 10 months by our calculations. We recognized in early June last year that the Lake Keowee market was accelerating and the quest for homes and land in the glorious Upstate of South Carolina has continued to grow since then. Both national and regional market trends have demonstrated an interesting outcome of the pandemic—people have determined that family and desired lifestyles are now primary reasons for choosing where they live, rather than being driven by proximity to their workplace. With more and more people working from home, folks have begun to look for comfortable lifestyles in luxury locations like Lake Keowee, and as a result, our real estate market is booming and inventory has declined drastically as properties sell quickly for high prices.
If buyers cannot find an existing home to purchase, many are buying homesites in desirable lake neighborhoods and building dream homes. This too is driving our current market and placing a strain on the construction industry as builders work to keep up with demand, and construction materials climb in price as material inventory declines.
Read the summaries in each category of our newsletter to see just how the Lake Keowee market is thriving.
