COLUMBIA, S.C. – May 16, 2011 – (RealEstateRama) — South Carolina REALTORS® (SCR) today released its April 2011 Market Reports. The final month of year-over-year comparison to last year’s tax incentive market is upon us. It bears repeating that April 2010 enjoyed uniquely strong activity due to the approaching credit deadline. New Listings in the state of South Carolina decreased 23.3 percent to 9/154. Pending Sales were down 37.9 percent to 4,008. Inventory levels shrank 7.0 percent to 57,680 units – a positive trend that should preserve market balance.
Prices were more or less stable. The Median Sales Price declined 3.09 percent to $142,500. Days on Market increased 9.4 percent to 144 days. The supply-demand balance improved as Months Supply of Inventory was down 0.3 percent to 14.6 months.
Nationally, the interest rate is 5.0 percent on a 30-year fixed conventional and the unemployment rate edged up to 9.0 percent in April, even as the economy added 244,000 jobs. Job seekers showed more confidence, a potential indicator of future housing demand. Moving forward, expect a different story to unfold in our market. We’ll soon be comparing current activity to a post-credit slump that occurred during the summer and fall of 2010.
April 2011 Statewide reports are attached. Please contact local boards for data by area. Contact Sharon Delia, SCR Communications Director, for archived reports.
Questions about the data? Contact Nick Kremydas at 803.772.5206
South Carolina REALTORS® (SCR) is the largest professional trade association in the state, serving as the voice of real estate for more than 14,000 members involved in all aspects of the residential and commercial real estate industries. REALTOR® is a registered trademark that identifies a professional in real estate who subscribes to a strict code of ethics as a member of SCR and the National Association of REALTORS®.