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Real Estate - Residential

S.C. housing market continues grow in November

Real Estate - Residential
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Home sales, prices and listing all grew in November, according to a monthly report released Friday by South Carolina Realtors. (Photo/File)

Home sales in South Carolina rose 5% in November compared to the same time last year, and new listings grew by 3.5%. 

Prices also rose, climbing 12.4% to an average of $286,000, according to a monthly report released today by South Carolina Realtors. Pending sales dipped 0.2% to 8,566, while inventory shrank 29% to 13,492 units.  

Nationwide, the median single-family existing home sale price rose 16% in the third quarter of 2021 to $363,700, with all four regions of the country seeing double-digit price growth. Homes continued to move at record pace, spending 46 days on the market, a drop of 30%.  

“The holiday season is typically a slow time for Realtors, but with an improving economy and decreased unemployment, we’re staying busy and seeing that the demand is still very strong,” Morris Lyles, SCR 2021 president, said in a news release from the organization. 

Builder confidence rose to 83 on the National Association of Home Builders/Wells Fargo Housing Market Index, its highest level since spring, in November. This rise came despite labor and lot shortages and supply chain challenges.  

Reach Melinda Waldrop at 803-726-7542.

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