South Carolina Realtors (SCR) released its April real estate market data revealing a busy spring for both buyers and sellers.
New listings across the state were up 3 percent to 10,953 while pending sales increased almost 4 percent to 6,661. Inventory shrank by almost 7 percent with an inventory of 41,284 homes left to choose from for buyers.
Prices moved higher as the median sales price was up 5 percent to $155,995. Homes sold faster with a days on market decrease of 9 percent to 112 days – the 12th consecutive month of year-over-year declines. Months supply of inventory was down 16.5 percent to seven months.
“Housing fundamentals in South Carolina continue to improve, and with recent economic development announcements we expect this growth trend to continue,” said SCR CEO Nick Kremydas.
With rental prices on the rise and reasonable mortgage rates, new listings are expected to increase statewide and nationally, said Kremydas.