2020 real estate market
2020 was a sobering , surprising , and surreal year on many fronts . The story of how our local real estate market evolved over the course of the past year is certainly one for the history books .
When the COVID-19 virus hit our radar here in South Carolina , we started to track the news and events that unfolded thereafter , plotting them on the same timeline as the Lowcountry real estate market . The results are in the graph you see along the bottom of these pages .
What started as a promising year of growth for our market in January and February , quickly took a downturn in the early Spring as sellers , buyers , and agents digested the implications of the pandemic on our local ( and national ) market . However , by mid- May a new way of doing business began to evolve , reflecting high-safety , low-impact protocols that populated the market with very serious buyers and sellers .
Buyers seeking refuge from high-density locations resulted in a sharp increase in the demand for primary and secondary residences in the Lowcountry across the
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full spectrum of price-points . Properties were often bought and sold utilizing virtual showings such as Facetime and other creative , socially distant methods . The volume of transactions soared , and inventory was reduced dramatically , quickly making it the busiest real estate market the Lowcountry had ever experienced .
Given the moderate growth of our local market over
New Listings and Pending Sales * amid key events through 2020
* HHI / Bluffton area ( homes , villas , lots & boatslips )
First 2 positive cases in SC
2020 New Listings