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
Homes Sold in Sumter County, South Carolina Year to Date Since 2006
Average Days on Market in Sumter Until Sold
Sumter New Listing for Residential Property By Month
Sumter New Listing for Residential Property By Year To Date
Sumter Active Listing for Residential Property
Median Home Price for the Sumter Residential Home Sales
Sumter County South Carolina Price Per Square 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 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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