August 2011 Sumter Residential Real Estate Market Report

Posted By Kim PeasleyParker @ Sep 7th 2011 2:20pm In: Sumter Real Estate Monthly Report

Market Summary Thru August 31, 2011

Market Statistic	July 2011	August 2011	Trend
Median Price of Homes Sold	$140,417	$144,000	+
Average Price of Home Sold	$154,156	$142,616	-
Least Expensive Home Sold	$15,000	$6,000	-
Most Expensive Home Sold	$357,000	$308,000	-
Price/ Sq. Ft.	$76.82	$76.36	-
Average Days of Market (DOM)	141	163	+
Total Active Inventory	1341	1339	-
Median Home Size	1808	1751	-
Median Number of Bedrooms	3	3
Median Number of Bathrooms	2	2

In Sumter, South Carolina real estate we saw home sales fall from 88 properties in July to 76 in August 2011. The number of properties pending in Sumter was lower at the end of July vs June and the decrease in closings was expected based upon those numbers. The number of homes under contract or pending at the end of August was down from the July numbers, so I would expect to see the number of closed units for September to be less than August.

The total number of residential properties closed in Sumter Year to Date for 2011 is less than the Year to Date numbers for 2011. This gap is 33 properties which averages out to about 4 properties per month.

Days on Market in the residential market in Sumter real estate jumped to 166 days. This number is based on the properties sold in Sumter county so while it is increased, this means some of the older inventory has sold.

New Listings increased to 166 properties that were listed or put on the market for sale in August 2011.

Sumter Listings Per Month

Year to Date Listings for 2011 is still lower than 2010 Year to Date Listing for August and also less than 2009 Year to Date Listings during the same time period.

The number of active listings decreased to 1339 residential properties being actively marketed for sale in Sumter.

Homes for Sale Sumter

The Median home price in Sumter increased to $144,000. The median home price in Sumter County has remained in the above $140,000 for the past three months. This is almost a full $10,000 above the median home price a year ago.

Median Home Price Sumter

The average price per square foot in Sumter remained about $76 per square foot with a difference of less than $.50 per square foot. This is a result of the mixture of homes being sold, but less lower cost homes being sold while the higher end of the real estate market for the Sumter area does continue to sell at a steadier pace.

As I recommend every month, please consult a local Realtor^®about the local market. Even though the Sumter Board of Realtors provides data, this data is very specific to Sumter County and residential home sales only. I do not include other counties in our Board of Realtors nor do I include lots or land.

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

Realtor^®/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

Your Relocation Contact for Sumter, Shaw, Air Force and 3rd Army

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