November 2011 Sumter Market Update

Posted By Kim PeasleyParker @ Jan 26th 2012 9:06am In: Sumter Real Estate Monthly Report

Market Summary Thru November 30, 2011
      
 

Market Statistic

October 2011

November 2011 

Trend

Median Price of Homes Sold

$113,700

$120,500

+

Average Price of Home Sold

$117,013

 $123,159

+

Least Expensive Home Sold

$14,500

$4,750    

-

Most Expensive Home Sold    

$265,016

$515,000

+

Price/ Sq. Ft.

$63.78

 $62.97

-

Average Days of Market (DOM)

 136

137

+

Total Active Inventory

 1314

 1245

-

Median Home Size

1731

 1698

-

Median Number of Bedrooms

3

3

 

Median Number of Bathrooms

2

2

    

 

Writing this up a little different this month as there were some shifts in the market I want to discuss without breaking them up by the charts.



The Sumter, South Carolina real estate market experienced a shift in October and that trend appears to be continue.  The number of homes sold in the month of November increase slightly to 61, following the decrease in sales in October. While this is a decrease over the past months, it is still above the November 2010 units sold at 44.  The increase in the number of homes sold in November 2011 over November 2010, the year to date number of homes sold in Sumter, South Carolina is no almost equal 2011 to 2010.  Given the history, decreased sales in the last quarter or the year are normal and nothing that sends up major red flags to me at this time.   I think it is a true indicator of the overall market and the fact that it is seasonal in Sumter.  


Second the Median and Average home price in Sumter was down in comparison to prior months, but higher than October 2011 mumbers.  This is a true indicator that many first time home buyers are taking advantage of the lower interest rates and getting into the housing market.  The median home price rebounded a little bit in November with the buyers in the $120,000 to $160,000 coming out in force to purchase homes.


The Average $ per Square Foot increased in November after taking a fall in October.  Both of October and November were still below the year, but the Sumter, South Carolina real estate market does typically experience a lower $ per square foot sales price in the last quarter and some years this is carried over into the beginning of the next year.   


The charts for the month are below.  So while there may be some concern over the numbers.  Looking at them, I feel the truly fall in line with what we have seen in the past years.  The real estate market hasn't take a turn for the worse, it is just a different group of buyers out there purchasing their homes and starting their piece of the American Dream.



Homes Sold in Sumter County, South Carolina by Month
Sumter Homes Sold By Month

Homes Sold in Sumter County, South Carolina Year to Date Since 2006
 
Homes Sold By Year in Sumter
 
Average Days on Market in Sumter Until Sold  
 
Sumter Days on Market

Sumter New Listing for Residential Property By Month

Sumter Homes Listed By Month  

 
Sumter New Listing for Residential Property By Year To Date  
 
Sumter Year To Date Listings     
 
Sumter Active Listing for Residential Property  

Sumter How Many Homes Are On The Market

 
Median Home Price for the Sumter Residential Home Sales
Median Home Price Sumter
 
Sumter County South Carolina Price Per Square Foot 

Price per Square foot in Sumter 

 
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

 
Copyright, Kim Peasley-Parker December 2011
 
 


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