New market numbers released by South Carolina Realtors show that November was another encouraging month for residential sales across the state.
The report shows that new listings in South Carolina increased 2.5 percent to 6,819 in November. Pending sales were up 4.1 percent to 4,087 and inventory levels shrank 4.6 percent to 45,755 units.
The Upstate numbers look great, says Nick Sabatine, CEO of the Greater Greenville Association of Realtors. “We are 24.5 percent ahead of last year’s sold units year-to-date. Our volume is up 28.3 percent and our median price is up 4.3 percent. Also, our average days on the market are at 93 days, an 11.4 percent decrease over the same 11-month period a year ago.”
Other positive signs in the report show the median home sales price statewide increased 5.3 percent to $157,900 and number of days on market for properties was down 13.8 percent to 114 days.
Overall for the year, from Dec. 2012 through Nov. 2013, pending sales in the state were up 15.8 percent. The price range with the largest gain in sales was the $300,001 and above range, where prices increased 25.6 percent.
The median home price remained somewhat constant for the year, up 4.7 percent to $157,000.
The property type with the largest price gain was in the condo segment, where prices increased 8.7 percent to $125,000. The report showed the price range that tended to sell the quickest was the $200,001 to $300,000 range at 114 days, whereas the price range that tended to sell the slowest was the $300,001 and above range at 138 days.
Market-wide, inventory levels were down 4.6 percent. The property type that lost the least inventory was the single-family segment, where it decreased 3.5 percent. That amounts to 8.5 months’ supply for single-family homes and 9.1 months’ supply for condos.
Not bad numbers for a month that has a “calendar effect.” As families gather together, fewer house hunters are scheduling showings and writing offers.
