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Columbia-area home sales spike 10 percent in August

Sep 15, 2011 12:29:00 PM - thestate.com
Real estate could be headed for a rebound in Columbia.

Midlands’ home sales made a double-digit comeback in August – jumping 10 percent compared to the same month a year ago as buyers snapped up discounted homes. That stopped a months-long slide that started as a federal tax credit for first-time buyers came to an end in July 2010.

Home sales increased to 617 in August from 563 the same month last year in the Columbia area, according to a report release today by the S.C. Realtors trade group. The median price buyers paid for those homes slid 10 percent to $137,000, the report said. Home builders also took out 17 percent more building permits for new homes for the period, according to a report from the Home Builders Association of Greater Columbia.

In South Carolina, sales were down 12 percent for the month as the state’s 15 regions saw mixed results. The median price statewide was down 5 percent to $147,000.

One Northeast Richland community manager said his company is building more homes than it had planned this year as demand has risen.

USA, South Carolina: (Latest Stories)