According to local reports, the real estate market in the Pee Dee has cooled from its high recently, but only slightly.
Inventory is up and days on the market is longer, but still higher than last year at this time.
The good news is that now is the right time to start that new home build. Give Hopkins Builders a call today.
The Morning News reported that the Pee Dee Real Estate Market is still roaring from the effects of the pandemic. Homes now stay on the market more than 50 days less. Inventory of homes are down 17% which has driven prices up by 20%.
New home building has not escaped the pandemic’s ill effects either, with lumber prices sky rocketing.
The good news is that interest rates are still very low. Most economist believe that the surge in prices will decline and slowly return to somewhat normal. And, lumber prices have already dropped by 45% in just a month. Prices may not immediately return to pre-pandemic levels but they are expected to slowly decline over the rest of this year.
Even with the flurry of current building activity, now is the time to begin planning your new home! Call Hopkins Builders today!
The Pee Dee Realtor Association reported in late December that residential property sales increased by 7% in 2020, representing 2,642 homes sold compared to 2,463 in 2019.
As reported earlier, the current pandemic seems to have influenced this rise. Workers are finding their current homes inadequate for working-from-home and feel an upgrade is in order.
Of course, historic low mortgage rates have certainly contributed to demand.
Finding the choices of existing homes not up to par, consider a new construction build from Hopkins Builders. Call us today!
SCNow newspaper article
As the shutdown of the economy eases, the housing market has heated up.
As a result of potential home sellers “pulling back,” fewer homes are available to now energized buyers.
According to a recent story in The Morning News, Pee Dee median home prices have risen almost 10%. In addition, the number of days homes stay on the market has dropped. All most likely due to the effects of the COVID-19 pandemic (as discussed here in an earlier post).
The newspaper article also points to the fact that the Federal Reserve has reduced their rates to zero which helps pull down mortgage rates. That has incentivized buyers into the housing market and increasing demand.
With limited options for existing homes and interest rates at historic lows, your incentive to build a custom home becomes even greater. Hopkins Builders has the experience and expertise to guide you through the process. Get in touch today to get started toward your dream home.
It appears that home sellers have pulled back due to the COVID-19 Pandemic. With so much uncertainty, sellers have decided to “shelter in place” for the time being. This situation has given the build option more weight as less homes come to market.
Some analysts predict a quick, strong come back to the housing market with several indicators pointing that direction. While the housing market is most likely to rebound, just how long this will take is a toss up.
One thing is certain, workers are ready to get back to earning a living, including the those in the construction industry. If you’ve been sitting on the fence about pulling the trigger on that new home project, now may be the best time to get started.
Interest rates are still incredibly low and banks are more likely to lend to less risky ventures like home projects.
Hopkins Builders can help guide you through the process and make your dream home a reality. Give us a call today!
A recent article in the Morning News reports that area real estate is in a “sellers market” according to the Pee Dee Realtor Association. By definition a “sellers market” occurs when demand to purchase homes increases over the supply of homes for sale, thus pushing prices higher.
The Florence area may not meet the definition of a “hot market,” like others around the country where buyers enter into bidding wars for existing properties, but the statistics do show that prices have increased by 7.5% from 2018 to 2019.
When existing home prices rise, the option to build your own home becomes more attractive. We’ve written about the many benefits of building your own home, but the basic advantage is that you will get a home that more meets your desires than some of the compromises that come with existing homes.
Hopkins Builders is a trusted builder in the Pee Dee area and can help you through the process with recommendation on house plans and building lots and neighborhoods. Give them a call today and get the home of your dreams.
In the city but in the country. In a well established neighborhood but new. The Colony subdivision has several seemingly contradictory terms that define it.
If you are looking for a high end neighborhood, that is hidden off the main thoroughfare but close to town, you may have found it here.
The Colony offers large half acre lots for homes around 2500 square feet. It’s adjacent to the well known, loved and established Forest Lake area. Although it seems to be in the country, it’s actually only seconds from South Cashua and West Palmetto Street. This is a premiere, secluded subdivision in the much sought after West Florence area.
Schools are Delmae Elementary, Moore Intermediate, Sneed Middle and West Florence High School. A Food Lion grocery store is less than one mile along with many restaurants. Magnolia Mall area is less than a 10 minute drive.
Get in touch with Hopkins Builders about building your dream home at The Colony at Forest Lake.
Millwood Run is a wonderful medium sized neighborhood in the South Florence area. This creek front community has ample green space and large lots. Located near the intersection of Alligator Road and Irby Street, right across the street from South Florence High School. Alligator Road will soon have an updated and widened roadway which will provide easy quick access to all of your destinations.
The homes in Millwood Run are all brick and currently valued at 250 to 350k (according to Zillow). Lot prices are about $35,000 and several are available. This area is zoned for Savannah Grove Elementary School, Southside Middle School and South Florence High School in the Florence 1 School District. If you have kids in Middle or High School, it’s only a couple of blocks to these campuses.
Get in touch with us today to discuss your new home in Millwood Run.
Middleton Point was developed on one of the last parcels of raw land closest to the heart of Florence. You can access this neighborhood from Damon Drive off Second Loop Road (see map below). It is surrounded by three well established neighborhoods including The Cloisters and Kirkwood. This area is zoned for Mclaurin Elementary School, Southside Middle School and South Florence High School in the Florence 1 School District. The Florence YMCA, a complete health and fitness facility, is within a short jog or bike ride. Many restaurants and retail stores are only a few blocks away on Irby Street including Chick-fila, Zaxby’s and a Super Walmart.
Middleton Point offers large lots with current homes averaging around 2300 square feet. The subdivision is designed for 82 homesites with about half that number still available for your dream home. Walking trails around two large ponds containing fountains are the center point of the subdivision. Contact Hopkins Builders today to discover how to make this premier community your home.
According to data released by the Pee Dee Realtors Association, the housing market in Florence and Darlington area is maintaining it’s growth.
In an article in the Morning News, the Pee Dee Realtor’s Association shared some insights into how the Florence/Darlington housing market is doing. Although some reports show the National housing market may be slowing, that’s doesn’t appear to be the case for the Pee Dee.
Some of the major indicators like number of new listings, median sales prices and days on the market saw improvement over last year. The inventory of homes for sale was also up, showing the market is good for buyers.
Darlington also saw gains with a 26.3% rise in the Median Sales Price year to date of last year. The Florence market, which is usually the strongest in the area, seems to be bringing adjacent counties up also.
You should take a look at the article if you are interested in the details. Several charts and graphs are provided.