The Beattie House, constructed in 1834, is the third oldest structure in Greenville, and is located in the East Park Avenue Historic District in downtown Greenville. The property and house are up for sale, with the Offering Memorendum available on October 21st. Click here for more details.
Existing home sales, as reported by the National Association of Realtors, increased in June to the highest level since February 2007. Although the June percent share of first-time buyers declined from May to 30%, that share remained at or above 30% for the fourth consecutive month. Total existing home sales increased by 3.2% in June to a seasonally adjusted rate of 5.49 million units combined for single-family homes, townhomes, condominiums and co-ops, up from a downwardly revised 5.32 million units in May. Junel existing sales were up 9.6% from the same period a year ago, and have increased year-over-year for nine consecutive months.
Existing sales increased in all regions, ranging from 4.7% in the Midwest to 2.3% in the South. Year-over-year, all four regions also increased, ranging from 12.7% in the Midwest to 7.3% in the South.
Total housing inventory in June increased by 0.9% from May, and is very slightly above its level a year ago. At the current sales rate, the June unsold inventory represents a 5.0-month supply, lower than the 5.1-month and 5.3-month supply the previous two months. Some 47% of existing homes in June were on the market for less than a month, the highest share since June 2013.
The distressed sales share decreased to 8% from 10% in May, and are well below the 11% share during the same month a year ago. Distressed sales are defined as foreclosures and short sales sold at deep discounts. June all cash sales fell to 22%, matching the lowest share since December 2009. Individual investors purchased a 12 share of homes in June, down from 16% during June of 2014. The accelerating withdrawal of cash investors will create more opportunity for first-time buyers.
The June median sales price of $236,400 was 6.5% above the same month a year ago, represented the 40th consecutive month of year-over-year price increases, and surpassed the peak median sales price set in July 2006. The median condominium/co-op price increased to $226,500 in June, and was up 5.5% from the same month a year ago.
The Pending Home Sales Index increased for the fifth consecutive month in May. The continued increase in existing sales is expected to increase throughout the year, as first-time buyers return to the market.
Article courtesy of NAHB’s Eye on Housing
According to a report in GSA Business this week, South Carolina home sales were up 21.9 percent in September. The report was based on data compiled by South Carolina Realtors from South Carolina-based multiple listing services. Sales were up in Greenville by 24.9 percent to 767, and 31.3 percent in Spartanburg to 227. Statewide 5,267 homes were sold in September.
Greater Greenville Association of Realtors reports that existing home sales rose 23.3 percent in June, compared to June 2012; 936 homes listed in the Multiple Listing Service sold in June. Home prices edged up .1 percent to $160,000.
The average time on market fell 15.9 percent to 78 days.
Read the complete report at GSA Business by clicking here.
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: