Nov
14th
2011
Posted By: Kim PeasleyParker @ 11:05am In: Sumter Real Estate Monthly Report
Tags: sumter real estate, seller, buyer, sumter market reports, sumter homes for sale, sumter rental
Market Summary Thru October 31, 2011
|
Market Statistic
|
September 2011
|
September 2011
|
Trend
|
| Median Price of Homes Sold |
$127,000
|
$113,700
|
-
|
|
Average Price of Home Sold
|
$127,813
|
$117,013
|
-
|
|
Least Expensive Home Sold
|
$7,000
|
$14,500
|
+
|
|
Most Expensive Home Sold
|
$256,670
|
$265,016
|
+
|
|
Price/ Sq. Ft.
|
$82.11
|
$63.78
|
-
|
|
Average Days of Market (DOM)
|
172
|
136
|
-
|
|
Total Active Inventory
|
1339
|
1314
|
-
|
|
Median Home Size
|
1617
|
1731
|
+
|
|
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 shit last month in the information from the closed transactions. First the number of homes sold in the month of October fell, but year to year from October 2010 to October 2011 the numbers are very close. As I have stated throughout 2011, the number of transactions closed has been close to 2010 so while this lower number is closings may seem worrisome, we did see the same thing happen in October 2010. 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. 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 in Sumter has been very up and down over the past year and October proves to be another month of what I call "segmented" buying. Meaning buyers in certain price ranges are more active than across the entire prices of real estate.
The Average $ per Square Foot also fell significantly after being at record high for Sumter. September was representative of higher sales price homes with more amenities driving up the price per square foot. October with the lower median home price and average home price, was very representative of the lower priced homes being sold.
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.
Number of Properties Closed in Sumter, SC October 2011
Residential Properties Closed Year To Date Sumter Real Estate
Sumter Residential Properties Days on Market
Sumter New Listings By Month in Residential Real Estate
Sumter Year To Date New Residential Listings
Sumter SC Active Residential Listings
Median Home Prices Sumter South Carolina
Sumter Average Price per Square Foot ($/Sq Ft)
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 November 2011
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