Fewer homes for sale in SC, prices stable, monthly data show

October 17, 2011 | Comments Off on Fewer homes for sale in SC, prices stable, monthly data show

The number of homes for sale across South Carolina has declined significantly from last year, but reduced inventories do not appear to have put any upward pressure on prices, a new South Carolina Realtors report on market conditions shows.

The report released Monday afternoon says there were 52,611 housing units for sale in September, down more than 15 percent from last September. The association called that statistic “a positive supply side trend that should bring additional stability.”

Statewide inventories have not fallen as quickly as in the tri-county Charleston area, where the number of homes for sale hit a five-year low in September that has coincided with increased sales volume.

Median sales prices have been little changed statewide, hovering around $149,000 for the past two years, and buyers have been paying just over 94 percent of the original listing price.

The average amount of time it takes to sell a home statewide has increased to 145 days, indicating that buyers remain in the driver’s seat and are taking their time, despite record-low mortgage interest rates.

Source: The Post & Courier


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