COLUMBIA, S.C. – January 5, 2015 – (RealEstateRama) — South Carolina REALTORS® (SCR) today released its November 2015 real estate market reports, showing that residential real estate experienced the best year for that month since the recession. The year is wrapping up to have the best national showing since 2006.
New listings were up five percent to 6,880 and Pending Sales increased 1.4 percent to 4,561. Inventory shrank almost seven percent to 36,371. Prices moved higher as Median Sales Price was up slightly more than seven percent to $174,400. Days on Market decreased six percent to 107 days and Months Supply of inventory was down almost 18 percent to six moths.
“2016 is projected to be a good year, but inventory and affordability challenges coupled with mortgage rate increases will likely slow growth a little bit. However, these changes will also keep home prices from increasing too rapidly to maintain economic stability,” said SCR CEO Nick Kremydas.
SCR’s 2015 Annual Report is coming soon! Please contact local boards for data by area.
South Carolina REALTORS® (SCR), the largest professional trade association in the state, serves as the voice of real estate for 17,385 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®.
CONTACT: Sharon Delia (803) 772-5206