June South Carolina Housing Market Busy for Buyers
Monday, July 20th, 2020
South Carolina REALTORS (SCR) released its June 2020 market data. While the statewide reports reflect continued constrained seller activity, buyers are increasingly active.
“During the shut downs across the country and in South Carolina many began to re-evaluate how and where they live. This mindset is a factor in driving the South Carolina real estate market," said SCR President Owen Tyler.
In comparing June of 2020 to June of 2019, pending sales increased 4.5% to 9,541. New listings were down almost 7.5% to 10,523. Inventory shrank 24% to 23,870 units, causing prices to move higher. The median sales price was up almost 8% to $242,000. Houses were on the market an average of 77 days. Months Supply of Inventory was down 23% to three months, indicating that demand increased relative to supply.
"Monthly indicators are steadily improving. When comparing June 2019 numbers to June 2020, we’ve had many instances of sales increases throughout the state. As we head into the summer months, it looks like South Carolina’s real estate market will be as hot as the weather," said SCR CEO Nick Kremydas.
SCR’s statewide reports are attached. FastStats are also available at screaltors.org/marketreports.