Published Aug. 29, 2013
S.C. residential properties sold at an estimated annualized pace of roughly 98,000 in July, up 8% from this time last year, according to data from real estate tracking firm RealtyTrac.
Residential properties across the country sold at an estimated annualized pace of 5.5 million in July, up 11% from a year ago — the biggest annual increase in sales volume so far this year.
While sales volume continued to increase nationwide, eight states posted annual decreases in total sales. Of those, the largest decreases in sales were in California, down 17%; Arizona, down 11%; Nevada, down 7%; and Georgia, down 2%. Those four states also posted the four biggest annual increases in median home prices in July.
The national median sales price was $174,500 in July, up 6% from a year ago — the 16th consecutive month of increase annually, after prices bottomed out in March 2012.
The median price of a distressed sale — properties in foreclosure or bank-owned — was $120,000, down 1% from a year ago and 37% below the median sales price of a non-distressed residential property.
“Low inventory of homes available for sale is proving to be a double-edged sword in many local housing markets that have bounced back quickly from the real estate slump,” RealtyTrac Vice President Daren Blomquist said in a news release. “Home prices are accelerating rapidly in these markets, thanks to the combination of low supply and strong demand.”
Median sales prices
Anderson County saw the largest increase — up 17% from this time last year — in median sales price. The table below lists the median sales price in July for all sales, non-distressed sales and distressed sales for select S.C. counties in the Upstate, Midlands and Lowcountry.
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Source: RealtyTrac’s July 2013 U.S. residential and foreclosure sales report