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S.C. home sales down 4.7 percent in January

Feb 15, 2011 2:33:00 PM - thestate.com
January home sales slid in South Carolina compared to the same month last year and sellers typically got less than they asked when their houses did sell -- on average, five months after being listed, according to the monthly report released today by the South Carolina Realtors trade group.

Sales slipped 4.7 percent statewide in January to 2,542, and median price of homes that sold was down 4.1 percent to $141,900, with sellers getting an average of 94 percent of their asking price. But the news was worse in Columbia, which has been slower to recover from the downturn than coastal areas. Sales fell 13.5 percent in the Midlands to 341. Median price, however, was up 3.3 percent to $142,100 as sellers held out for their asking prices.

Most coastal areas continued to see a rebound in home sales in January as investors snapped up foreclosed properties, but sales declined in most areas of the state.

And a rebound is not looking good as real estate professionals’ ramp up for the spring selling season.

Pending home sales – in which a contract has been signed but a closing has not taken place -- fell 17.8 percent compared with January 2010, according to the report, with 2,992 agreements signed statewide.

USA, South Carolina: (Latest Stories)