COLUMBIA, S.C. – January 17, 2012 – (RealEstateRama) — South Carolina REALTORS® (SCR) today released its December 2011 statewide market reports.
New Listings in the state of South Carolina decreased 12.4 percent to 5,233. Pending Sales were up 11.4 percent to 3,173. Inventory levels shrank 15.6 percent to 48,158 units, extending the signature trend of 2011. Prices were fairly stable. The Meidan Sales Prices increased 0.3 percent o $150,366. Days on Market increased 3.6 percent to 148 days. Absorption rates improved as Months Supply of Inventory was down 16.0 percent to 11.9 months.
Ultimately, the upcoming spring market should be a major indication of the direction of housing. Sellers are seeing multiple-offer situations, buyers are seeing sub-4.0 percent loans, and supply-demand trends are more balanced. When it gets down to it, that’s a stable foundation and a far cry from 2009. While the fundamentals are better, the foreclosure situation and political unknowns remain wildcards. For now, we should enjoy the fresh canvas.
Please contact local boards for data by area. Questions about the statewide data? Contact Nick Kremydas at 803.772.5206.