COLUMBIA, S.C. – February 14, 2014 – (RealEstateRama) — South Carolina REALTORS® (SCR) today released its January Statewide Market Reports.
The same factors that catalyzed widespread market recovery for the past couple of years are likely to continue throughout 2014, though perhaps at a moderate pace. Potential trends in the coming year include increased seller activity, more new construction and fewer foreclosures on the market.
New Listings in the state of South Carolina decreased 3.1 percent to 8,943. Pending Sales were down 6.0 percent to 4,497. Inventory levels shrank 4.1 percent to 44,472 units.
Prices moved higher as the Median Sales Price increased 5.3 percent to $154,743. Days on Market was down 10.8 percent to 116 days. Absorption rates improved as Months Supply of Inventory was down 15.2 percent to 8.4 months.
Interest rates remain attractive and should stay below long-term averages, but rates are expected to creep higher in 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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