March 2011 Sumter Real Estate Market Report

Apr 19th 2011

Posted By: Kim PeasleyParker @ 3:04pm In: Sumter Real Estate Monthly Report

Market Summary Thru March 31, 2011

Market Statistic	February 2011	March 2011	Trend
Median Price of Homes Sold	$126,500	$142,400	+
Average Price of Home Sold	$135,104	$151,137	+
Least Expensive Home Sold	$8,000	$13,000	+
Most Expensive Home Sold	$353,000	$499,000	+
Price/ Sq. Ft.	$70.72	$75.63	+
Average Days of Market (DOM)	157	168	+
Total Active Inventory	1382	1397	+
Median Home Size	1629	1826	+
Median Number of Bedrooms	3	3
Median Number of Bathrooms	2	2

March 2011 showed a pick up in sales in the Sumter Real Estate Market. March 2011 units sold was actually the highest number we had seen since September 2010. Sumter home sales are still lagging behind the 2010 numbers, but we are still early in the home buying season which normally starts in April or May.

Year to Date closings are still low due to a very slow start in January.

Days on Market for Sumter County, South Carolina increased to 168.

Listings per month increased from 161 in February to 168 in March. I stated last month that I expect to see the number of listings increase as we continue to get into the PCS season for the Air Force.

March 2011 Sumter Listings Per Month

The Year to Date Listings remain between 2009 and 2010 levels. I fully expect to see those numbers stay in that range.

The number of Active Listings did increase in March and I expect to see an increase until July. After July, the number of active listings begins to fall slowly as houses are sold, rented or withdrawn from the market. The introduction of the Third Army into the Sumter home market may influence the Sumter market to not follow prior years, but this trend hasn't been broken as of March.

March 2011 Sumter Active Listings

The median home price increased from $126,500 in February to $142,400 in March. Based upon this and the price per square foot and the Days on Market, a segment of the home market that had not been selling was starting to emerge with more sales.

Sumter Median Home Price

The average $ per square foot increased in March to $75.63.

Sumter Monthly Average $/Square Foot Real Estate

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

Share this Post: