August 2014 Sumter Real Estate Market Update

Posted By Kim PeasleyParker @ Sep 23rd 2014 12:15pm In: Sumter Real Estate Monthly Report

Market Summary Thru August 31, 2014

 

Market Statistic

July 2014

August 2014

Trend

Median Price of Homes Sold

$144,500

$126,000

-

Average Price of Home Sold

$154,220

$134,875

-

Least Expensive Home Sold

$6,500

$6,000

-

Most Expensive Home Sold

$440,000

$409,500

-

Price/ Sq. Ft.

$67.21

$64.20

-

Average Days of Market (DOM)

160

141

-

Total Active Inventory

1296

1290

-

Median Home Size

1991

1831

-

Median Number of Bedrooms

3

3

 

Median Number of Bathrooms

2

2

 

 

The Sumter SC real estate market in August 2014 showed many different indicators showing improvement as well as slipping numbers.  August 2014 had 105 units closed in Sumter, SC.  This is the largest number of sales in a single month since October 2009 with 112 units closed.  This is the first time a month has broken 100+ units closed since October 2009 also!  With the increase in the monthly closing the total units closed year to date in 2014 Sumter Real Estate is 638.  This falls slightly short of the 2013 number year to date in August of 646.  But August 2014 showed 14 more units sold over August 2013.  July 2014 ended with 203 pendings and August 2014 ended with 164 units pending.  This change in pendings in one month is very dramatic compared to the prior months in 2014.  Short term, we may find that the number of properties sold in September 2014 will be lower, the pendings for the month of September 2014 seems to have increased over the month of August. 

 

The median home price in Sumter, SC for August 2014 was $126,000 which was down from the median home price in July2014 of $144,500.  The price per square foot decreased in Sumter, SC real estate from $67.21 in July 2014 to $64.20 in August 2014.  The number of active listings in July 2014 at 1296 down was only slightly higher than August 2014 listings of 1290.  The number of new listings in Sumter for August 2014 feel to 151 versus 171 new listings in July 2014.  This indicates many of the closings in August 2014 were indeed pending at the end of July 2014.

 

The charts for Sumter SC Real Estate in August 2014 are below.  It remains a great time to purchase a home in Sumter, there is a very high inventory and the interest rates are still relatively low.  There is a substantial cost savings in purchasing a home versus renting the same home.  These savings are only increased when tax benefits of owning are home are calculated into the equation.  

 

For more information or a free walk thru to prepare for selling, please call me at 803-840-7519.

 

Homes Sold in Sumter County, South Carolina by Month

Aug 2014 Sumter Homes sold

 

Homes Sold in Sumter County, South Carolina Year to Date Since 2006

Aug 2014 Sumter homes sold year

 

Average Days on Market in Sumter Until Sold  

Aug 2014 Days on Market to Sell

 

Sumter New Listing for Residential Property By Month

Aug 2014 Monthly Listings Homes for Sale  

 

Sumter New Listing for Residential Property By Year To Date  

Aug 2014 Year To Date Listings     

 

Sumter Active Listing for Residential Property 

Aug 2014 Active LIsting

 

Sumter Median Home Price

Aug 2014 Median Home Price Sumter

 

Sumter County South Carolina Price Per Square Foot 

Aug 2014 $ per Sq Foot 

 

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 Area

 

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

 

Copyright, Kim Peasley-Parker September 2014 

 


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