Market Summary Thru April 30, 2010
|Market Statistic||March 2010||April 2010||Trend|
|Median Price of Homes Sold||$147,500||$129,950||-|
|Average Price of Home Sold||$162,020||$123,358||-|
|Least Expensive Home Sold||$7,000||$10,500||+|
|Most Expensive Home Sold||$615,000||$335,000||-|
|Price/ Sq. Ft.||$74.96||$71.22||-|
|Average Days of Market (DOM)||148||145||-|
|Total Active Inventory||1445||1444||-|
|Median Home Size||1751||1606||-|
|Median Number of Bedrooms||3||3|
|Median Number of Bathrooms||2||2|
April brought a flurry of buyer activity into the Sumter Market. The good news is for many potential home buyers the tax credit may not have ended on April 30th! If a buyer is military or a Federal Government employee who was out of the country for part of 2008 or 2009, they have up to April 2011 to use the tax credit!!!! Since many Air Force and Army personnel fit this category, they may still be able to use the tax credit to purchase a home! In April Sumter county had 86 untis close, an 8.8% increase over March 2010. Since properties had to be under contract by April 30th, there was a scramble to put properties under contract at the end of the month. This should result in an increase in the number of properties that close in May and June.
The year to date closings in Sumter County is slightly above the 2009 numbers. I expect to see the year to date number gain in May, but after May, we will have to watch and wait due to the tax credit ending for many.
Days on Market for Sumter County, South Carolina decreased from 148 in March to 139 in April. The decrease in days on market and the number of units sold resulted in the average days on market for 2010 decreasing to 145 for the year to date.
Listings per month decreased slightly from 198 in March to 190 in April. April has been up and down over March for listings for the past three years so there is no definate trend as to the number of listings. However, the listings in May have increased over the past four years so I would expect to see the same trend.
Listings year to date are ahead of 2009. As we see the units sold increase, we are seeing the listings increase keeping us in a buyers market but not as strong as other areas of the country have been.
The total number of listings available decreased from March to April. Considering the trend of the increase in listings in May, I would expect to see the number of active listings increase in May and June.
The median home price decreased from March to April, this decrease was a result of the properties that were sold. In March a property sold for $615,000 and the high for April was $335,000, which is closer to normal for Sumter County. This lead to a more normal median home price in April. Along with the median home price being lower in April, the average home price, $ per square foot and median home square footage decreased. These statistics show a very strong tendancy to move together.
The average $ per square foot decreased in April. We see a tendency for this to follow along with the median and average price of the homes for the month.
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 email@example.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 May 2010