South Carolina REALTORS® Release February Market Numbers

COLUMBIA, S.C. – March 15, 2012 – (RealEstateRama) — South Carolina REALTORS® (SCR) today released its February Statewide Market Reports.

New Listings in South Carolina decreased 7.2 percent to 8,228. Pending Sales were up 16.9 percent to 4,653. Inventory levels shrank 15.7 percent to 48,446 units. Home prices gazed skyward. The Median Sales Price increased 2.6 percent to $140,000. Days on Market was up 3.0 percent to 148 days. Absorption rates improved as Months Supply of Inventory was down 18.4 percent to 11.7 months. Data from Cherokee County is also now included in the reports for a complete statewide picture.

“February’s report certainly backs up what Realtors® have been telling me all across the state. With sales and prices on an upward trend and inventory and supply on a downward trend, the report reflects what should be a very positive first quarter. It’s good news and I think we have more to look forward to –pending sales in February were up 18%,” said SCR’s Chief Executive Officer Nick Kremydas.

Statewide reports are attached. Please contact local boards for data by area. Questions about the statewide data? Contact Nick Kremydas at 803.772.5206.

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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®.

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