SC REALTORS Release Statewide Market Report

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South Carolina REALTORS® released its January Statewide Market Reports and for the first time since 2006, the numbers are largely positive, reports South Carolina Real Estate Rama.

New Listings in South Carolina increased 1.5 percent to 8,859. Pending Sales were up 21.8 percent to 4,750. Inventory levels shrank 12.8 percent to 44,115 units. Prices were fairly stable. The Median Sales Price increased 0.3 percent to $145,500. Days on Market was down 9.3 percent to 129 days. Absorption rates improved as Months Supply of Inventory was down 25.2 percent to 9.3 months.

It’s important to watch the economy since job growth directly fuels home purchases and the housing industry generates jobs. The economy has added about 6.1 million new jobs over the past 35 months, a sluggish but encouraging trend. Interest rates are slowly moving higher in some regions, though the affordability picture remains extremely attractive.

Contact local boards for data by area or call Nick Kremydas at 803.772.5206. Read More.