Published April 16, 2012
The real estate market continued its upward trajectory during the month of March, according to the latest home sales report from the SC Realtors.
Statewide home sales have now increased the first three months of the year, when compared to 2011, which was another down year. In March, statewide sales were up 4.6% at 4,405, with median price dropping slightly to $144,825.
On average, a home stayed on the market 139 days, six days less than a year ago.
New listings in South Carolina decreased 11.3% in March to 9,413. Pending sales were up 8.6% to 5,254. Inventory levels shrank 15.9% to 49,249 units. And absorption rates improved as months’ supply of inventory was down 19.6% to 11.8 months, SC Realtors reported.
In the state’s largest real estate market, Charleston Trident reported 898 sales, up 4.4%, with median price at $182,240, up 2.5%.
In Columbia, sales increased 16.7% to 615 and median price was up 2.4% at $135,000.
In the Upstate, Greenville area sales were at 619 for the month, up 7.1%, and median price increased 4.3% to $144,000. Spartanburg area sales reached 262, up 18.6%, with median price dropping 2.1% to $103,236. And in the western Upstate, sales dropped 13.8% to 219 and price increased 11.3% to $120,250.
Statewide, homes with the strongest sales growth were in the $200,001 to $300,000 price range. Sales for homes in that range were up 8.4%.
For the first quarter, sales were up 6.1%, while median price increased 2.1%. Here’s a look at first quarter data:
First quarter sales
First quarter prices
SOURCE: SC Realtors