The South Carolina Realtors' August housing market report indicates that as summer is ending, the housing market in the Palmetto State continues to be on an upswing.
New listings were up 3.9 percent to 9,172 statewide, while pending sales increased 3.2 percent to 5,991. Inventory dropped 5.8 percent to 39,091 units.
The median sales price was up 6 percent to $174,900, average days on market decreased 11 percent to 97 days, and the month's supply of inventory was down 18.8 percent to 6.5 months.
Statistics released jointly by the U.S. Census Bureau and the Department of Housing and Urban Development showed privately owned housing starts rose 0.2 percent when comparing July 2015 to the prior month and 10.1 percent when compared to July 2014 -- the highest numbers since October 2007.
South Carolina Realtors is the largest professional trade association in the state, serving more than 16,000 members.
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