Market Summary Thru November 30, 2009
|
Market Statistic |
October 2009 |
November 2009 |
Trend |
| Median Price of Homes Sold |
$125,000 |
$129,900 |
+ |
|
Average Price of Home Sold |
$124,768 |
$135,428 |
+ |
|
Least Expensive Home Sold |
$7,500 |
$7,000 |
- |
|
Most Expensive Home Sold |
$400,000 |
$333,500 |
- |
|
Price/ Sq. Ft. |
$69.38 |
$74.56 |
+ |
|
Average Days of Market (DOM) |
128 |
169 |
+ |
|
Total Active Inventory |
1299 |
1314 |
+ |
|
Median Home Size |
1603 |
1664 |
+ |
|
Median Number of Bedrooms |
3 |
3 |
|
|
Median Number of Bathrooms |
2 |
2 |
In November the number of units closed decrease from 111 in October 2009 to 77 in November 2009. October 2009 had the largest number of units closed in Sumter County since August 2007! Sumter County has been close to this number in the past two years, but has not reached this number. This number is also very impressive due to October is normally a month of slower sales in prior years. November did decrease to 77, but to put this in perspective in it is the fifth highest month for 2009. November is normally one of the lower months for closed transaction. Realtors were seeing many first time home buyers take advantage of the $8000 tax credit. Wth the extension of this credit, we are hoping to see an improvement in the market. The number of pending units decreased from 172 units in October to 142 units in November.
The total number of homes sold in 2009 continues to fall short of 2008 levels. Even with the great numbers of closed units in October and November, I cannot see the market "catching up" with 2008 levels in December.
The days on market increased dramatically in November from 128 in October to 169 days on market as an average in November. October showed a marked decrease in the average days on market, and the average for November is actually very close to the Year To Date average for 2009 Days on Market of 162.
The number of new listings in Sumter decreased in November 2009 by 14 units. October and November are slower months for listings and this trend appears to be holding true in 2009.
Unless the Sumter Real Estate Market is flooded with new listings in December, we will fall short for the total Year To Date New Listings that we had seen in previous years.
The total number of listings available increased from October to November. The number of Active Listings in a new statistic that was added in 2009 to the Board Reports so we will continue to watch it for trends.
The median home price increased in Sumter. The current price of $129,900 is an indication of the homes being sold. Along with the median home price being higher in November, the average home price, $ per square foot and median home square footage also increased. These statistics continue to trend along with each other.
The average price per sq. foot increased in November. The price per square footcontinues to mirror the median home price.
As I recommend every month, please consult a local Realtor® about the local market. Every real estate market is local. There is no National rules that every market in the United States follows when it comes to the ups and downs.
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@agentowned.com and I will help you in any way possible.
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 December 2009
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