COLUMBIA, S.C. – November 15, 2011 – (RealEstateRama) — South Carolina REALTORS® (SCR) today released its October 2011 statewide market reports. Record low mortgage rates, affordable prices and favorable negotiating leverage seem to be driving purchases.
For the 12-month period spanning November 2010 through October 2011, Pending Sales in the state of South Carolina were down 0.8 percent overall. The price range with the largest gain in sales was the $100,000 and Below range, where they increased 10.9 percent.
The overall Median Sales Price was down 0.9 percent to $148,500. The property type with the largest price gain was the Single-Family segment, where prices increased 0.2 percent to $157,263. The price range that tended to sell the quickest was the $100,000 and Below range at 137 days; while the price range selling the slowest was the $300,001 and Above range at 186 days.
Market-wide, inventory levels were down 14.9 percent. The property type that lost the least inventory was the Single-Family segment, where it decreased 13.2 percent. That amounts to 12.6 months supply for Single-Family homes and 14.2 months supply for Condos.
Please contact local boards for data by area. Questions about the statewide 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®.