Apr 10
20
Market Summary Thru March 31, 2010
|
Market Statistic |
February 2010 |
March 2010 |
Trend |
| Median Price of Homes Sold |
$134,250 |
$147,500 |
+ |
|
Average Price of Home Sold |
$136,318 |
$162,020 |
+ |
|
Least Expensive Home Sold |
$15,000 |
$7000 |
- |
|
Most Expensive Home Sold |
$349,000 |
$615,000 |
+ |
|
Price/ Sq. Ft. |
$74.22 |
$76.96 |
+ |
|
Average Days of Market (DOM) |
168 |
148 |
- |
|
Total Active Inventory |
1370 |
1445 |
+ |
|
Median Home Size |
1686 |
1751
|
+ |
|
Median Number of Bedrooms |
3 |
3 |
|
|
Median Number of Bathrooms |
2 |
2 |
March 2010 in Sumter county brought in more buyer activity into real estate market. There was an increase of 25 more units closed over February bringing the total for March to 79. Looking at prior years it is normal to see an increase in units sold between January to February to March. Buyers are still very active in Sumter County trying to beat the April 30 deadline for the tax credit. The number of units pending remained the same between February and March with 167 units pending at the end of March. This is a good indication we will see a similar amount of closings in April that we saw in March.
Sumter County starts to pick up with residential properties sold during the month of March. There are some exceptions in the prior years, but it is more common to see an increase. While January and February of 2010 followed closely to the sales of 2009, March 2010 was higher in closings than March 2009. 2010 is proving to follow along with prior years trends. Sumter is following closely to 2009 data so it will be interesting to see if we surpass 2009 or stay at the same levels. Indications on other charts are showing that we may indeed surpass 2009 levels in the coming months.
The days on market decreased in March from 168 in February to 148 in March. This measurement has been very “choppy” over the past several months showing months where homes that have been on the market longer have sold, other months indicating newer listings have sold. Either way, the average Average Day on Market is still slightly lower than what we have been seeing since mid-2008.
Sumter county saw an increase in the number of new listings from February to March 2010. February had in 156 new listings while March had 198. New listings generally increase for the first several months of the year as homes are put on the market for spring buyers.
As I said the past two months, the year to date listings is not showing us much other than we are ahead of 2009 for the number of new listings thus far.
The total number of listings available increased from February to March. With the number of new listings outpacing the number of units sold this increase would be expected.
The median home price jumped in March. The March median home price of $147,500 reflects the mix of homes being sold in Sumter county. This median home price is above any median home price we have seen in prior years. The mix of buyers that are in the market right now is different than in prior years. For many years if a home was on the market between $130,000 and about $150,000 it sold very quickly. This price range is currently not showing the strong sales, the price range about $150,000 is experiencing stronger sales. But along with this comes buyers who are more demanding of what they desire for the price. Along with the median home price being higher in March, the average home price, $ per square foot and median home square footage increased. These statistics show a very strong tendancy to move together.
The average price per sq. foot increased in March again following the Median home price.
As I recommend every month, please consult a local Realtor® about the local market. Every real estate market is local. There is no National rules that every market in the United States follows when it comes to the ups and downs. Sumter county is much different than Atlanta, Las Vegas, San Antonio or Florida.
I hope you find this real estate market report for Sumter County, SC informative. If you have any suggestions or questions, please email me at kim@agentownedrealty.com and I will help you in any way possible.
Kim Peasley-Parker
Realtors®/Shareholder
AgentOwned Realty,
Heritage Group, Inc.
Sumter, SC
Cell 803-840-7519
Serving all of Sumter County including Sumter, Dalzell, and Shaw Air Force Base area
Copyright, Kim Peasley-Parker April 2010
