FOR IMMEDIATE RELEASE
CONTACT: Sharon Delia (803) 772-5206
Competitive South Carolina Housing Market Trend Continues
COLUMBIA, S.C. (June 13, 2018) — South Carolina REALTORS® (SCR) today released its May 2018 market report. The report shows that homebuyers should expect a competitive housing market throughout the summer months.
New listings were up almost seven percent to 10,897 compared to last year, while pending sales decreased a little more than two percent to 7,585. Homeowners have less to choose from with an inventory drop of two percent to 29,142 homes.
The report also reveals that sellers have an advantage with a median sales price increase of seven percent to $205,709.
Homes are selling more quickly with a decrease in days on market by almost nine percent compared to last year. Statewide, homes are selling within 83 days. However, in some local sects such as the Irmo/Ballentine/St. Andrews area of Columbia, homes are selling in as little as 48 days.
Months supply of inventory was down almost nine percent to four months, indicating that demand increased relative to supply.
"In this competitive market homebuyers and sellers should reach out to a Realtor®. Interest rates are on the rise and only Realtors® have the skill set to navigate the current fast-paced aggressive market to land you the home of your dreams," 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 21,000 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®.