The following transcript was taken from a Facebook video on 12/6/23.

Hello friends. So, Louie's joining me today. It's been a little while since he's been on camera, so he might be a little camera shy. But anyways, he goes with me most days to work and he's in the car if I go to showings. And so anyways, he's my little buddy. And so this is Louie, my family dog.

So, in preparation for Christmas, I have agent friends all across this country. We do a ton of broker to broker business, meaning they send me buyers and sellers and I will, in response a lot of times, I'll send buyers and sellers. If you're moving out of the area, a lot of times I will refer you to a Keller Williams agent that does a high level of business in another market, so you don't have to research and wonder; who are you going to use? Who's a great agent in another city? I have resources that can tell me who's operating at what level, and are they quick? Are they responsive? What are their reviews? I will call them, have conversations, interview them, and then make sure that I align you for success in that market that you're going to. Or maybe you just are a fan of mine and you watch my videos and you live in a different area and you're moving inside of your own market. Great. Let me connect you with an agent there.

So, this Christmas gift is from my friend Allison Burleson in Birmingham, Alabama. She helped my mother buy and sell in Birmingham, and she sent me this cute little Christmas gift and it says, "Merry Christmas from Allison." And there is nothing to get you in the Christmas spirit like the scent of Christmas and NEST is my absolute favorite. So Allison, thank you for this gift. It smells so good. Too bad we don't have smellevision. It's just wonderful. So, this will be sitting on my desk and I'll be enjoying this all month long. The nice thing about these candles is they last so long, so I'll probably have this for a couple of seasons, but thank you again and I look forward to sending more business to you and hopefully you to me as well.

So here's a quick market update. We have been a little tepid with our sales this last week. So we had 169 homes that went under contract. The median sales price for those properties was, let me get the correct number here, 387,000. So, out of the 169 homes that went under contract, the median list price, we don't know the sales price yet, but the median list price was 387. So, seven of those were over a million, and three of those were over 2 million. So, pretty good sales production. It is down from the last few weeks of numbers. Interest rates though are holding pretty steady, floating right at that 7% mark, which is good. That's fine. We may see a dip in those come spring into the sixes. That's what the projection is, and that will be a real warm welcome to see a 6% interest rate again, but with that we'll come more buyer demand. And so that's just the nature of the business.

Let's see. Here's another interesting statistic, because new construction really does play a part into the projection of the market. If there's a lot of new construction, we are sitting in a very active seller market. If there's very little new construction sales within the seller market, then it tends to be that we are a little more tepid on sales. If the builders are giving a lot of concessions, then that tells us a lot about what our resell market is probably doing as well.

So interesting fact, on the 169 sells that happened last week, very few of those were in new construction. In fact, there were zero. Mount Pleasant, James Island, John's Island, West Ashley, North Charleston all had zero new construction sells. So if you're one of my new home agents that are out there, I was in new homes for many, many years, you are filling that market. However, 21 sales in Moncks Corner, Goose Creek and Hanahan; all were in new construction. So, very heavy in that market in the Berkeley County side. But the other markets, our new construction sales were zero.

So, it's just a telltale sign of what the market is doing right now. And those builders, if you want an incentive-based sale, if you're a investor looking to be able to purchase something here at the end of the year, close it quickly. Those builders are really incentivizing and they have a lot of concessions on their inventory right now. So, if you're an investor, we may need to take a peek at new construction sales in some of these markets where the builders are just wanting to offload their inventory before year-end.

So, that is a snapshot of what's happening in our market. If you have any questions about buying, selling, or investing, reach out to me. I'd be glad to talk, and make sure to say bye to Louis. Louis, you're on camera buddy. All right guys, have a great week. Take care.