Sumter county in December 2009 had 64 units closed. This is down from November and December, but considering the time of year and holidays, this is not unusual. There was a lot of buyer activity though with many buyers moving into the area. The question that only time will tell is if we see an increase January and February. We are currently a week and half into January and we are seeing closings. This might not seem significant, but most home buyers close at the end of the month not near the beginning to avoid interim interest.
The total number of homes sold in Sumter, South Carolina for 2009 was 937. In 2008 there were a total of 1025 units close for the year. So even though we have fallen short of the total number of units, sold we still need to look closely at the number of closings per month. In October, November and December 2009, Sumter had more units closed by the month than the same months in 2008. Does this mean the market has turned around? It might be a very good indication that we are seeing changes in the market.
The days on market decreased dramatically in December down from 169 in November to 148 days in December. With the changes we are seeing in the number of units sold by month and the days on market, we very well might be seeing the market turn.
The number of new listings in Sumter increased in December 2009 by 10 units. We normally see a decrease in the number of new listings during November and December, but many home sellers are getting their homes on the market earlier to prepare for a spring sale. This allows buyers more time to preview their homes online before arriving for house hunting.
Even with the increase in the number of new listings in December, we fell short of the 2008 number of new listings. 2009 had 1854 units listed and 2008 had 1969.
The total number of listings available decreased from November to December. Since this is a newer statistic to the report, we are still watching it for trends and how it interacts with the other statistics.
The median home price decreased in Sumter. The current price of $122,500 is an indication of the homes being sold. Along with the median home price being lower in December, the average home price, $ per square foot and median home square footage also decreased. These statistics continue to trend along with each other.
The average price per sq. foot decreased in December. This is no surprise given the median home price, average home price and square footage also decreased. December showed smaller homes with fewer upgrades being closed.
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 firstname.lastname@example.org and I will help you in any way possible.
Heritage Group, Inc.
Serving all of Sumter County including Sumter, Dalzell, and Shaw Air Force Base area