COLUMBIA, S.C. (May 16, 2016) – (RealEstateRama) — South Carolina REALTORS® (SCR) today released its April housing market data. The reports show the number of homes for sale has generally remained lower compared to a year ago, and prices have been steadily increasing in desirable communities.
New listings were up slightly compared to this time last year at 10,812 while pending sales decreased almost five percent to 7,208. Inventory shrank by seven percent compared to last year and is down to 36,745 units. Prices moved higher as median sales price was up almost six percent to $175,000. Homes are selling quickly with most on the market for only 103 days. Month’s supply of inventory was down thirteen percent to six months, indicating that demand increased relative to supply.
“Mortgage interest rates are low, unemployment is low and wages are increasing – but inventory is still very tight. Buyers need an experienced REALTOR® more than ever to find their dream home,” 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 17,385 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