November 2014 Sumter SC Market Report

Posted By Kim PeasleyParker @ Dec 16th 2014 11:15am In: Sumter Real Estate Monthly Report

Market Summary Thru August 31, 2014

Market Summary Thru November 30, 2014

 

Market Statistic

October 2014

November 2014

Trend

Median Price of Homes Sold

$121,500

$142,000

+

Average Price of Home Sold

$140,249

$137,744

-

Least Expensive Home Sold

$5,000

$4,500

-

Most Expensive Home Sold

$640,000

$367,500

-

Price/ Sq. Ft.

$65.66

$67.70

+

Average Days of Market (DOM)

160

156

-

Total Active Inventory

1231

1221

-

Median Home Size

1860

1873

+

Median Number of Bedrooms

3

3

 

Median Number of Bathrooms

2

3

+

 

If you compare the Sumter SC Real Estate Market in November 2014 to October 2014, you may be very disappointed.  However, looking back at prior years, the decrease in sales from October to November is normal.  2008 and 2009 have been benchmarks years to compare 2014 to and the sales for November 2008 were 59 properties sold while November 2014 ended with 61.  The year to day properties sold for 2014 at the end of November was 882, which is higher than both 2008 and 2009.  I expect the year will finish strong with numbers outpacing 2013.  The number of pendings at the end of November 2014 was 149 which is only down 8 pendings from October pendings.   

 

The median home price in Sumter, SC for November 2014 was $142,000, which was an increase over October.  November had many new construction homes sold and this impacted median home size as well as the median number of bathrooms.  The average price of homes sold in November fell from $140,249 in October 2014 to $137,744.  The majority of the time, the median is lower than the average price.  The median being higher than the average sales price in November is an indicator of the higher priced homes being sold.  The number of active listing in October and November 2014 were essentially the same with 1231 vs. 1221.  However, the number of new listings in November fell from 160 in October to 116 in November. 

 

The charts for Sumter SC Real Estate in November 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.  Home prices have continued to decrease in the Sumter SC market as the inventory is high.  With the number of homes sold increasing, we are likely to see the prices of homes stabilize and possibly gain, so there is no better time that the present to purchase your new home in Sumter.  

 

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

Sumter SC Real Estate Market

 

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

Sumter SC Real Estate Market YTD Solds

 

Average Days on Market in Sumter Until Sold  

Sumter SC Days on Market to Sell House

 

Sumter New Listing for Residential Property By Month

Sumter SC Real Estate New Listings Per Month  

 

Sumter New Listing for Residential Property Year To Date  

Sumter SC Homes listed for Sale     

 

Sumter Active Listing for Residential Property 

Sumter SC Homes for Sale

 

Sumter Median Home Price

Sumter SC Median Home Prices

 

Sumter County South Carolina Price Per Square Foot 

Sumter SC $ 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 Area

 

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

 

Copyright, Kim Peasley-Parker December 2014 

 


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