COLUMBIA, S.C. – January 15, 2013 – (RealEstateRama) — South Carolina REALTORS® (SCR) today released its December 2013 Statewide Market Reports.
2013 proved to be a good year for housing. Home sales and prices were broadly higher across the nation, while foreclosure loads, the number of homes for sale and the number of days it took to sell a home were all much lower. Multiple-offers became commonplace again and prices in many areas, rallied to multi-year highs.
New Listings in the state of South Carolina increased 5.5 percent to 5,493. Pending Sales were up 1.2 percent to 3,486. Inventory levels shrank 4.6 percent to 44,045 units.
Prices moved higher as the Median Sales Price increased 3.5 percent to $163,000. Days on Market was down 12.3 percent to 114 days. Absorption rates improved as Months Supply of Inventory was down 17.3 percent to 8.3 months.
Housing is fortified by confident consumers and good jobs. 2013 was marked by a slowly improving labor market stunted by political gridlock, and the Federal Reserve’s long-awaited taper announcement was not surprising. Interest rates remain low, but upwardly mobile, prices are still affordable, employment is improving and the stock market is up nearly 30 percent from this time last year. Buyers were active in 2013 and are expected to continue to be active into 2014.
Please contact local boards for data by area. Questions about the attached statewide data? Contact Nick Kremydas at 803.772.5206.
South Carolina REALTORS® (SCR), the largest professional trade association in the state, serves as the voice of real estate for 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®.
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