October saw a decrease in the number of units sold to 51 down 23 units from September. Interest rates are truly at historical lows, but buyers seem to be staying out of the market due to the economy and I think some apprehension about the elections.
The Year To Date Closings for 2010 continues to lag behind 2009 numbers and October contributed to that gap increasing. I expect to see this gap remain as we don't foresee a tax credit coming back for home buyers as it did in November and December of 2009.
Days on Market for Sumter County, South Carolina decreased from 181 in September to 165 in October. There remains many wonderful homes on the market in Sumter, but competition continues to be tough.
Listings per month decreased from 145 in September to 141 in October. These new listings indicate fewer homes going on the market during the months of September and October.
Sumter County year to date listings is still above 2009 levels, but the gap is decreasing. 2009 showed a fairly steady increase every month and 2010 showed higher numbers earlier again indicating that homes were being placed on the market earlier to increase their exposure and to compensate for longer time on the market.
The number of active listings in the Sumter market continued to decrease for the third straight month.
The median home price increased from $124,800 in September to $128,870 in October. The year to date median home price is $134,178.
The average $ per square foot remained virtually the same in September and October.
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 email@example.com 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