According to a recent release from South Carolina Realtors (SCR), the state of South Carolina had a healthy selling season in March.
SCR analyzed the figures connected to the state’s housing market numbers from earlier this year. The real estate included in the analysis was local, but pending sales and new construction sales have been occurring throughout the country.
In South Carolina alone, new listings rose by 2.9 percent, a jump of 11,079. Pending sales within the state rose by 8.7 percent (6,766), the state’s inventory decreased by 6 percent (40,345 units) and median sales price increased by 5.8 percent to $165,000.
The number of days properties spend on the market fell by 3.4 percent or 115 days, and for the 12th month in a row, months supply of inventory decreased by 15.7 percent, amounting to seven months.
Compared to March 2014, averages illustrate that there are higher employment rates and higher earning rates in South Carolina. Thanks to the housing market prices and job rates, experts estimate that mortgage rates will continue to hold steady until at least June.
SCR is South Carolina’s largest professional trade association, serving approximately 15,000 real estate members who are active in every aspect of the real estate industry, from commercial to residential. As a registered trademark, Realtor identifies professional members of the real estate industry, and SCR members agree to a high standard of conduct and code of ethics.
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