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S.C.’s median home price highest in more than a decade, Realtors group says

Real Estate - Residential
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By Ashley Heffernan
aheffernan@scbiznews.com
Published Feb. 9, 2016

2015 was the best year for residential real estate in South Carolina since the Great Recession ended in 2009, according to a year-end market report from the S.C. Association of Realtors.

Nearly 72,000 homes were purchased across the Palmetto State in 2015, almost 12% more than the number sold in 2014. Those homes were on the market for an average of 106 days, and sellers walked away with 96.4% of list price, the association’s report said.

View the S.C. Realtors' year-end market report
The median price of homes sold in South Carolina last year increased 6.2% from 2014, to about $172,000 — the highest price since the association started tracking the data in 2005. The least-expensive homes sold were in the Cherokee market, at a median price of $80,875, while the most expensive, at a median price of $276,900, were found on Hilton Head Island, the report said.

At the end of 2015, there were 33,800 homes for sale, down 8.2% from 2014. New listings, however, increased by 3.6% from 2014, to 106,214.

“With the economy in pretty good shape, more seller activity is anticipated soon,” S.C. Realtors CEO Nick Kremydas said in a news release. “We’re expecting another great year for both homeowners and Realtors.”

Residential real estate data for S.C. regions


Location

Aiken

Beaufort

Charleston Trident

Cherokee

Columbia

Coastal Carolinas

Greater Greenville

Greenwood

Hilton Head

North Augusta

Pee Dee

Piedmont

Southern Midlands

Spartanburg

Sumter

Western Upstate

State totals

Closed sales ’15
(% chg. from ’14)

1,973 (+12.9%)

2,023 (+3.5%)

16,237 (+13.9%)

472 (-13.7%)

11,010 (+12.2%)

11,762 (+12.0%)

11,591 (+12.9%)

842 (+17.9%)

4,043 (+13.2%)

6,848 (+10.1%)

1,908 (+9.0%)

2,884 (-2.1%)

298 (-2.6%)

4,233 (+9.7%)

1,285 (-2.0%)

4,359 (+14.6%)

71,946 (+11.7%)

Days on market ’15

179

111

62

140

96

157

74

150

109

140

141

124

223

132

172

103

106

% of list price received ’15

96.0%

96.7%

97.7%

93.8%

96.2%

96.0%

97.0%

93.9%

95.7%

97.0%

94.5%

96.4%

90.5%

95.8%

95.1%

95.0%

96.4%

Median price ’15
(% chg. from ’14)

$148,000 (+3.5%)

$169,900 (+10.4%)

$229,000 (+6.5%)

$80,875 (+9.1%)

$150,000 (+2.0%)

$164,000 (+5.8%)

$169,900 (+6.3%)

$115,000 (+0.9%)

$276,900 (+7.3%)

$156,900 (+3.0%)

$130,000 (+10.2%)

$160,000 (+6.6%)

$89,950 (+12.2%)

$135,000 (+8.0%)

$127,000 (-2.0%)

$149,348 (+9.0%)

$172,000 (+6.2%)

Source: S.C. Association of Realtors

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

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