The S.C. Realtors said in their monthly home sales report that sales are up by 13.4% statewide. Which indicates a trend toward rising prices and more homes sold in a shorter time on the market. This is great for many sellers who have waited to place their homes on the market as new listings in South Carolina increased 2% and pending sales were up 11%. Another great sign for optimistic sellers is that the inventory of unsold homes has gone down 15.1% and low interest rates have helped as they dipped below 3.49% for a 30-yr fixed mortgage. However, we still have a ways to go before sustained recovery as consumers are still lacking confidence in both the economy and their family finances.
The strongest increases in the number of homes sold were in the Spartanburg and Hilton Head markets reaching 25% in both areas.
Here are some market facts:
- The strongest price range was $200,001-$300,000 with a 15.4% increase in sales during July, compared with the year-earlier month.
- The bedroom count with the strongest sales in July was 4 bedroom or more, and sales up 15.1%.
- Condominiums were the property type with the strongest sales, up 11.4%.