Published Oct. 16, 2013
Homes sold in South Carolina during September were 21.9% above August levels, at 5,267 residential homes, condos and villas, South Carolina Realtors reported.
New home listings in South Carolina increased 9.9% in September to 8,165, new data show, while pending sales were up 8.7% to 4,655.
Inventory levels of homes for sale statewide shrank 6.2% to 46,597 units. Prices rose as the median sales price increased 3.2% to $159,500.
Days on market were down 9.1% to 115 days. Absorption rates improved, as months supply of inventory was down 20.3% to 8.9 months.
“Normalcy is returning to the housing market, and all major indices showcase a fairly robust price recovery,” South Carolina Realtors said in their report on September home sales.
“There's some evidence that it's not just first-time home buyers fueling the recovery,” the association said. “Move-up buyers are also pulling their weight. Some baby boomers are ready to look for less space, while the younger generation seeks bigger space.”
“Consumer confidence isn't what it could be, but it's sufficient for now,” the association said.
The association said that for the 12-month period spanning October 2012 through September 2013, pending sales statewide were up 17.8% overall. The price range with the largest gain in sales was the $300,001-and-above range, where they increased 26.9%.
In major markets across South Carolina, September sales reflected the strengthening market statewide: