Published Feb. 18, 2013
Pending sales of residential properties in South Carolina climbed 21.8% in January compared with the same month in 2012 while median sales price budged just 0.3% to $145,000, according to the S.C. Realtors Association.
The Columbia-based organization, which tracks residential properties, added that new listings in the state rose 1.5% to 8,859 dwellings.
The number of sales that closed in January rose 17.1% in a year-over-year comparison while the number of days a home was on the market dropped 9.3% to 129 days compared with 143 days for January 2012.
Among the state’s metro areas, Columbia recorded the largest increase for the month in the sales of residential homes, condos and villas, the association said.
Columbia sales jumped 23.3% to 524 homes in January compared with 425 units for the same month in 2012. However, the median price for the market dropped 8.4% to $132,200 from $144,250 in January 2012, and the average number of days a home was on the market increased 4.5% to 116.
The Greenville market recorded a 17.6% increase in sales for January with 502 homes compared with 427 units for the same month in 2012. Median home prices in Greenville rose 1.5% to $146,580, while the average number of days on the market dropped 6.6% to 98.
In the Charleston trident market, sales rose 15.9% to 634 homes in January while the median price rose 2.2% to $182,500. Charleston recorded one of the heftiest drops in the number of days a home was on the market, falling 23.1% to 89 days.
Only two markets in the state — Hilton Head Island and Western Upstate — recorded a drop in home sales for January. The Hilton Head area declined 0.9% to 218 homes while Western Upstate dropped 1.2% to 166 units.
In the Midlands, the Sumter/Clarendon market saw sales increase 23.9% to 83 homes while the Southern Midlands — mainly Orangeburg County — recorded a 30.8% increase for the month to 17 homes.
The Hilton Head area remained the most expensive market with the median price rising 2.8% to $245,500, while the Southern Midlands market had the lowest median price at $79,950.
Looking ahead, the association noted that while interest rates are edging higher in some regions of the state, prices are relatively stable.