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S.C. home sales down 5.5% in October

Real Estate - Residential
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By Ashley Heffernan
aheffernan@scbiznews.com
Published Nov. 18, 2015

The number of S.C. homes, condos and villas sold in October declined by 5.5%, from 5,863 to 5,540, compared with October 2014, according to a monthly report from the S.C. Association of Realtors.

The median sales price, however, increased 7.8%, from $160,500 last year to $173,000.

Previous coverage:

“We expected the numbers to look different this month. On one hand, national jobless claims are at an all-time low, and on the other hand, we’re expecting a rise in interest rates. South Carolinians are also still contending with the aftermath of the October floods and new Respa rules. There are many variables at play right now,” Realtors association CEO Nick Kremydas said in the report.

New listings across the state decreased nearly 7% to 7,693, and pending sales dropped 10.3% to 4,798, the report said. Homes stayed on the market an average of 98 days during October. That’s down 14 days from the previous year.

Total properties for sale fell to 37,453, a decrease of 6.1% from October 2014. That means 6.2 months’ worth of inventory is available, down 17.3% from last year, the association said.

Residential real estate data for S.C. regions


Location

Aiken

Beaufort

Charleston Trident

Cherokee County

Coastal Carolinas

Greater Columbia

Greater Greenville

Greenwood

Hilton Head Area

North Augusta

Pee Dee

Piedmont Regional

Southern Midlands

Spartanburg

Sumter/Clarendon County

Western Upstate

State totals

Homes sold Oct. 2014

154

170

1,225

52

926

914

982

69

330

541

157

263

23

381

134

331

5,863

Homes sold Oct. 2015

144

138

1,230

31

964

805

930

54

316

511

146

191

26

321

100

333

5,540

%
change

-6.5%

-18.8%

+0.4%

-40.4%

+4.1%

-11.9%

-5.3%

-21.7%

-4.2%

-5.5%

-7.0%

-27.4%

+13.0%

-15.7%

-25.4%

+0.6%

-5.5%

Median price Oct. 2014

$144,950

$164,793

$215,000

$76,500

$158,000

$146,169

$161,950

$114,900

$281,483

$154,400

$123,000

$158,500

$52,150

$120,750

$117,405

$139,800

$160,500

Median price Oct. 2015

$153,250

$175,000

$224,528

$72,000

$163,000

$156,176

$167,800

$118,500

$284,968

$149,900

$135,000

$160,000

$108,500

$133,000

$143,750

$147,750

$173,000

%
change

+5.7%

+6.2%

+4.4%

-5.9%

+3.2%

+6.8%

+3.6%

+3.1%

+1.2%

-2.9%

+9.8%

+0.9%

+108.1%

+10.1%

+22.4%

+5.7%

+7.8%

Source: S.C. Association of Realtors

Reach staff writer Ashley Heffernan at 843-849-3144 or @AshleyBHeff on Twitter.

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