The National Association of Realtors published a study about the Digital House Hunt. The purpose of the study was to understand how consumers are using digital media in their real estate search process. The report found some great information, most of which I’m definitely not surprised about. Here are some report highlights:
-90% of home buyers searched online during process
-Real estate related searched on google.com grew 253% in the past 4 years.
-Buyers use specific online tools during different phases of home searching
-“Local” search terms and websites are very important to buyers
-Mobile technology can determine online to offline buying, including reviews
-The study looked at how YouTube and other video satisfy buyers’ research needs
-The role of age and gender in driving real estate decision making in the market by being the top demographics who searched online and took the next steps offline
-Top states for searches around first-time home buyer tips and specific housing advice such as foreclosures
If you check out the full study, you’ll arrive on page 27 to where the researchers also studied where vacation shoppers are looking the most. The results showed that 93% of vacation home shoppers used the internet and that a little more than half of vacation home buyers started their searches online. South Carolina was in the top 5 locations for vacation category home searches. The main searches all included
some sort of question about a vacation rental.
The business of vacation rentals is booming in Charleston. Specifically, Wild Dunes, Isle of Palms, Sullivan’s Island, and Folly Beach are huge for this purpose. Before working as an agent I worked for over a year as a vacation planner on Isle of Palms in vacation rentals. It’s truly unbelievable how many people come here from all over the world to vacation. There’s nothing better than an oceanfront house or quaint condo within walking distance to the beach. There are so many different events throughout the year to attend, and what better idea than to rent a condo/house at the beach and get the best of both worlds? The proximity to Charleston is unbeatable. For those looking into second homes, Charleston is the perfect location.