COLUMBIA, S.C. – May 15, 2012 – (RealEstateRama) — South Carolina REALTORS® (SCR) today released its April Statewide Market Reports.
New Listings in South Carolina decreased 6.2 percent to 8,863. Pending Sales were up 18.1 percent to 5,243. Inventory levels shrank 16.1 percent to 49,593 units. The Median Sales Price increased 3.0 percent to $146,000. Days on Market was up 1.7 percent to 145 days, and the supply-demand balance stabilized as Months Supply of Inventory was down 24.4 percent to 11.7 months.
When monitoring residential real estate activity, it is always important to keep tabs on the overall economy and job growth. Preliminary first quarter 2012 GDP growth came in at 2.2 percent. This is disappointing to some observers and slower than the fourth quarter of 2011, but still signals economic expansion. Expedited bank processing and easing lending standards are also encouraging developments.
Statewide reports are attached. 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®.