Sumter Market Report February 2010

February 2010 Sumter, SC Market Report

 

 

Market Summary Thru February 28, 2010

 

February 2010 in Sumter county had 54 units closed.  This is up from January.  Looking are prior years it is normal to see an increase in units sold between January and February.  Buyers are still very active in Sumter County.  Many agents are experiencing more and more business.  The number of units pending increased from 127 in January to 167 at the end of February.  This is a good indication we will see more closings March and April. 

 

 

Sumter County normally has slower months in the winter that ramp up during the summer.  2010 is proving to follow along with prior years trends.  Sumter is following closely to 2009 data so it will be interesting to see if we surpass 2009 or stay at the same levels.  Indications on other charts are showing that we may indeed surpass 2009 levels in the coming months.   

 

 

 

 

The days on market decreased in February increased to 168 up from 128 in January.  This indicator alone is not a good sign, but the days on market is for only the homes that were closed during the month of February.  Meaning homes that had been on the market longer actually were sold.

 

 

 

 

The number of new listings in Sumter county for February fell from 179 in January to 156.  Many sellers have put their homes on the market earlier realizing the days on market are increasing.  Also many buyers come from out of town and start searching the internet for homes, long before their arrival.  As the weather warms and more sellers are able to prepare their homes for sale, I will expect to see the number of listings increase until mid summer.

 

 

 

 

As I said last month, the year to date listings is not showing us much other than we are ahead of 2009 for the number of new listings thus far.     

 

 

   

 

The total number of listings available increased from January to February.  Given a smaller number of closings during January and an increase in the number of new listings, this increase is expected.  Also new listings outpaced the sales in February increasing the number of new listings.  

 

 

  

 

  

The median home price increased in Sumter during February.  The current price of $134,250 reflects the mix of homes being sold in Sumter county.  Along with the median home price being higher in February, the average home price, $ per square foot and median home square footage increased.  These statistics show a very strong tendancy to move together.  

 

 

 

 

The average price per sq. foot increased in February.  February showed a more normal mix of homes with upgrades being closed over December and January.   

 

 

 

 

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.  Sumter county is much different than Atlanta, Las Vegas, San Antonio or Florida.   

 

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

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 March 2010