Market Summary Thru September 30, 2009
|
Market Statistic |
August 2009 |
September 2009 |
Trend |
| Median Price of Homes Sold |
$140,000 |
$124,450 |
- |
|
Average Price of Home Sold |
$151,923 |
$127,677 |
- |
|
Least Expensive Home Sold |
$30,000 |
$24,900 |
|
|
Most Expensive Home Sold |
$400,000 |
$244,000 |
|
|
Price/ Sq. Ft. |
$78.41 |
$73.60 |
- |
|
Average Days of Market (DOM) |
165 |
144 |
- |
|
Total Active Inventory |
1345 |
1322 |
- |
|
Median Home Size |
1789 |
1619 |
- |
|
Median Number of Bedrooms |
3 |
3 |
|
|
Median Number of Bathrooms |
2 |
2 |
In September we saw the number of units close decrease from 83 in August 2009 t0 68 in September 2009. This was a decrease from September 2008. Though we are seeing some first time home buyers taking advantage of the $8000 Tax Credit, we are not seeing as many as was expected. The tax credit does require the buyers to stay in the home for three years or repay the entire amount. This is definately a consideration if you are in the military and might have to sell the home before the three year requirement. The number of pending units increased from 157 units in August to 176 units in September indicating that we may see more units closed in October than in September.
The total number of homes sold in 2009 continues to fall short of 2008 levels. With 2009 monthly units closed less than 2008 this decline is to be expected.
The days on market decreased dramatically in September falling from 165 in August to 144 days on market as an average in September.
The number of new listings in Sumter decreased in September 2009 by a mere four units. August and September typically are very close in the number of units listed during the month. We normally see a decrease in October, November and December.
If the trends in listings follows previous years, the number of new listings will taper off in the fall and during the holidays. Bringing the total number of new listings for a year below 2008 levels.
The total number of listings available decreased from August to September. Given the trends of listings during the holidays and the number of pending units, I would expect this number to continue to trend downward until after the end of the year.
The median home price decreased in Sumter. The current price of $124,450 is an indication of the homes being sold. Along with the median home price being lower in September, the average home price, $ per square foot and median home square footage also decreased. These statistics all seem to follow along with each other. We saw this trend at the beginning of the year with smaller homes and less expensive homes affecting all of these measures.
The average price per sq. foot declined in September for the first time in seven months. In comparing the price per square foot, you notice it closely mirrors the median home price.
Remember all real estate markets are local. There is no National rules that every market in the United States follows when it comes to the ups and downs. Consumers are best served by an educated Realtors® who understands the market and how to help them buy or sell a home.
I hope you find this real estate market report for Sumter County, SC interesting. If you have any suggestions, please email me at kim@agentowned.com and I will see what I can do.
Kim Peasley-Parker
Realtors®/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
Copyright, Kim Peasley-Parker September 2009
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