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S.C.’s median home price jumps nearly 10% in January to $170,000

Real Estate - Residential
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By Ashley Heffernan
aheffernan@scbiznews.com
Published Feb. 24, 2016

Across the Palmetto State, 4,272 homes were sold in January, a 3.7% increase from January 2015. The median price of those homes jumped 9.7% from the same time period to $170,000, according to a monthly report from the S.C. Association of Realtors.

“The market seems to be moving steadily into the new year as we predict slightly more sales with slightly higher prices in 2016,” S.C. Realtors CEO Nick Kremydas said in a news release.

The state’s most-expensive homes in January were found on Hilton Head Island, where the median price was just over $300,000; the least-expensive homes were in the Southern Midlands, selling for about $70,000, the association’s report said.

New listings in January totaled 8,735, which is 11 fewer than the total in January 2015. Pending sales dropped 8.4% to 4,850 in January, and closed sales increased nearly 4% to 4,272, according to the association.

Homes were staying on the market about 118 days in January 2015, but that figure decreased to 107 days last month. Sellers, on average, walked away with 96.2% of the list price, a slight increase from last year, the report said.

The inventory of homes available in South Carolina fell from 37,084 in January 2015 to 34,411 last month, a 7.2% decrease, leaving a supply of 5.6 months of inventory, the report said.

Residential real estate data for S.C. regions


Location

Aiken

Beaufort

Charleston Trident

Cherokee County

Coastal Carolinas

Greater Columbia

Greater Greenville

Greenwood

Hilton Head Area

North Augusta

Pee Dee

Piedmont Regional

Southern Midlands

Spartanburg

Sumter/Clarendon County

Western Upstate

State totals

Homes sold
Jan. 2015

121

149

897

31

661

674

613

48

227

419

126

191

24

255

86

230

4,119

Homes sold
Jan. 2016

125

149

964

32

655

685

667

55

280

410

121

150

20

241

78

241

4,272


% chg.

+3.3%

0.0%

+7.5%

+3.2%

-0.9%

+1.6%

+8.8%

+14.6%

+23.3%

-2.1%

-4.0%

-21.5%

-16.7%

-5.5%

-9.3%

+4.8%

+3.7%

Median
Jan. 2015

$125,250

$145,000

$210,000

$75,050

$149,950

$134,781

$160,021

$87,650

$236,000

$140,000

$113,450

$144,778

$74,400

$126,250

$115,777

$146,450

$155,000

Median
Jan. 2016

$154,500

$160,000

$217,500

$84,950

$162,050

$149,900

$166,699

$122,750

$300,650

$155,000

$118,856

$151,500

$70,500

$135,000

$127,500

$135,000

$170,000


% chg.

+23.4%

+10.3%

+3.6%

+13.2%

+8.1%

+11.2%

+4.2%

+40.0%

+27.4%

+10.7%

+4.8%

+4.6%

-5.2%

+6.9%

+10.1%

-7.8%

+9.7%

Source: S.C. Association of Realtors

Reach staff writer Ashley Heffernan at 843-849-3144 or @AshleyBHeff on Twitter.

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