October 2014 Sumter SC Market Report

Posted By Kim PeasleyParker @ Nov 18th 2014 10:15am In: Sumter Real Estate Monthly Report

Market Summary Thru October 31, 2014

 

Market Summary Thru October 31, 2014

 

Market Statistic

September 2014

October 2014

Trend

Median Price of Homes Sold

$125,000

$121,500

-

Average Price of Home Sold

$130,711

$140,249

+

Least Expensive Home Sold

$15,000

$5,000

-

Most Expensive Home Sold

$340,000

$640,000

+

Price/ Sq. Ft.

$66.81

$65.66

-

Average Days of Market (DOM)

163

160

+

Total Active Inventory

1254

1231

-

Median Home Size

1750

1860

+

Median Number of Bedrooms

3

3

 

Median Number of Bathrooms

2

2

 

 

To sum up the Sumter SC real estate market in October 2014, all I can say is WOW!  The pending residential listings in Sumter County at the end of September 2014 were 172 properties.  This was only slightly above the pendings at the end of August 2014 with 164 properties.  Given the history of the number of pendings to homes sold the following months all indications were that the number of properties that would close in October 2014 in Sumter, SC was going to be in the 80 range.  The actual number of properties sold in Sumter in October was 104!   The number of properties pending at the end of October was 157.  I will have to take a wait and see opinion about the number of properties sold in November as one of the key indicators didn’t hold true for October.  With 104 properties sold, October 2014 is the best October that Sumter County has seen since 2008!  The year to date sales for 2014 took a leap over 2013 with 821 closed at the end of October versus 2013 with 803.  This is the best year to date number since 2008 which had 909 at the end of October.

 

The median home price in Sumter, SC for October 2014 was $121,500 which was down from the median home price in September 2014 of $125,000.  The price per square foot decreased in Sumter, SC real estate from $66.81 in September 2014 to $65.66 in October 2014.  The number of active listings in October 2014 at 1231 down slightly from 1254 in September 2014.  The number of new listings in Sumter for October 2014 decreased to 160 versus 184 new listings in September 2014.  

 

The charts for Sumter SC Real Estate in October 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 Homes Sold by Month

 

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

Sumter SC Homes Sold Year To Date

 

Average Days on Market in Sumter Until Sold  

Sumter SC Days On Market Home Sales

 

Sumter New Listing for Residential Property By Month

Sumter SC Listings Per Month  

 

Sumter New Listing for Residential Property Year To Date  

Sumter SC Listings YTD     

 

Sumter Active Listing for Residential Property 

Sumter SC Homes for Sale

 

Sumter Median Home Price

Sumter SC Median Home Price

 

Sumter County South Carolina Price Per Square Foot 

Sumter SC Home 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 Area

 

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

 

Copyright, Kim Peasley-Parker November 2014 

 


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