COLUMBIA, S.C. (August 17, 2016) — (RealEstateRama) — South Carolina REALTORS® (SCR) today released its July housing market data, revealing that even as prices rise in many communities, homes continue to sell faster now than they have in the past several years.
New listings were down one percent to 9,725. Pending sales decreased almost 12.5 percent to 6,187. Inventory shrank by almost six percent to 36,687 units. Prices moved higher as median sales price was up two percent to $182,900. Homes are selling more quickly than the previous month with most on the market for only 91 days.
Month’s supply of inventory was down eleven percent to six months, indicating that demand increased relative to supply.
“With shrinking inventories, rising prices, and multiple offers, it can be especially difficult for first-time homebuyers. A REALTOR® is your best choice to help you navigate your local market conditions.” said SCR CEO Nick Kremydas.
South Carolina REALTORS® (SCR), the largest professional trade association in the state, serves as the voice of real estate for more than 18,000 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®.
CONTACT: Sharon Delia (803) 772-5206