September had 74 residential properties close. An increase of 12 units over August 2010. Looking at the Monthly Units Closed chart, one might expect to see a peak in November as we did last year, but I would feel confident in saying we won't see that peak this year. That peak was generated with the end of the 2009 First Time Home Buyer Tax Credit at the end of November and then that was extended with a newer version that ended in having a house under contract in April 2010. There are some Federal Employees and Active Military who might qualify for that tax credit, contact me for details!
The Year To Date Closings for 2010 have lagged behind 2009 numbers in the past few months, but this month saw that gap decreasing. Due to the influence of the tax credit at the end of the year in 2009 and a tax credit no longer available, I expect that the gap between 2009 and 2010 will increase over the few months of 2010.
Days on Market for Sumter County, South Carolina increased from 160 in August to 181. This indicates that homes that have been on the market longer were selling in September.
Listings per month increased from 124 in August to 145 in September. These new listings indicate fewer homes going on the market during the months of August and September than we have seen in prior years. The trend appears that homes were placed on the market earlier in the summer to increase their exposure and to compensate for longer time on the market.
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 available homes being actively marketed decreased by 28 units. Many sellers are choosing to rent their homes in the current market vs keeping them on the market. Rentals in Sumter are currently being rented quickly.
There was a slight decrease in the Median home price in Sumter County during the month of September. The median home price shows great fluctuation in the Sumter Market and as we enter the winter, I expect to see that median home price decrease as investors are normally more active in purchasing properties.
The average $ per square foot increased in September slightly over the August average. This increase broke the trend of following the median home price, but the median square footage did increase .
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