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Housing market rolls as Columbia sales climb 14% in August

Agriculture
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Staff Report
colanews@scbiznews.com
Published Sept. 18, 2015

The number of residential homes, condos and villas sold year-to-date in the Greater Columbia area is up 19.4% in 2015, part of a strong momentum toward an improving housing market, South Carolina Association of Realtors said in its August housing market report.

The median price of residences sold in Greater Columbia is up 1.5% from 2014, with the average price coming in at more than $150,000. The 99 average days on the market until sale has not changed from the previous year.

In year-over-year comparisons, number of homes sold rose 13.8% to 1,086 in August compared with 954 for the same month in 2014. Meanwhile, the median price climbed 3.3% to $155,000 while the average days on market dropped to 91 days in August compared with 93 day for August 2014.

A period of inactivity on the market is, however, expected to hit soon, the association noted.

“Like school busses in a darker dawn, the typical seasonal slowdown is imminent,” the organization said. “Numbers may be a bit in flux, but no drastic year-over-year drops or rises are anticipated across most markets.”

Statewide, new listings are up 5.7% year-to-date from 2014, with more than 78,000 residences hitting the market. Pending sales are also up 15.3%. In August median sales price was up 6% across the state to $174,900, and the days on market decreased 11% to 97 days, the 12 consecutive month of year-over-year declines.

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