COLUMBIA, S.C. – June 16, 2014 – (RealEstateRama) — South Carolina REALTORS® (SCR) today released its May Statewide Market Reports, which indicate that while the American Dream of Homeownership is alive and well, it must continue to contend with market fluctuations.
New Listings in the state of South Carolina increased 4.5 percent to 10,354. Pending Sales were down 5.1 percent to 6,085. Inventory levels remained flat at 49,082 units. Prices moved onward as the Median Sales Price increased 1.2 percent to $160,900. Days on Market was down 4.2 percent to 115 days. Absorption rates improved as Months Supply of Inventory was down 6.1 percent to 9.2 months.
National GDP contracted slightly during Q1- 2014. However four consecutive years of private sector job growth buoyed by an improving sales mix, has resulted in higher sales price. More inventory, high-skilled job growth and less economic uncertainty are still top priorities.
Please contact local boards for data by area. Questions about the attached statewide data? Contact Nick Kremydas at 803.772.5206.
South Carolina REALTORS® (SCR), the largest professional trade association in the state, serves as the voice of real estate for 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®.
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