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Staff Report
Published May 13, 2013

Charleston-area home sales rose 18% for the first four months of 2013 compared with the same time last year, according to recent data from the Charleston Trident Association of Realtors.

Closings were down 3.2% from March, which saw 1,062 homes sold in that month compared with 1,028 in April. The $200,000 median home price in April was a decline of $940 from March. Sales figures and median prices for March and April are still higher than February, which saw 732 homes sold at a median price of $181,750.

Year to date, the Realtors’ group reported 3,472 closings in the Charleston area through April. The numbers are being driven mostly by investors and relocations to the Charleston market, CTAR said in a news release.“Our region’s ability to create and retain quality jobs has been a crucial component to the recovery of our market,” said Dave Sansom, 2013 president of the Charleston Trident Multiple Listing Service. “Increased activity in the construction sector will continue to strengthen our local real estate economy and will create additional inventory as we expect the higher rate of home sales to continue as we enter the busy summer months.”

Inventory levels have somewhat stabilized with 5,636 homes currently for sale, which is about 100 fewer homes than the previous month, Charleston MLS numbers show.

Homes were on the market for an average of 90 days before a sale in the Charleston market, CTAR reported. The association said smaller pockets of the Charleston area are beginning to see shorter periods between putting a home up for sale and closing.

The area’s year-to-date median price is $191,275 through April, which is an increase from the first four months of 2012, CTAR reported.

“Our market continues to expand and progress in a positive direction. We have a stable inventory paired with prices increasing at a steady and healthy pace — up 7% year to date — which is a great indicator for the sustainability of our market,” CTAR President Owen Tyler said.

County figures for April

A county-by-county listing of residential real estate numbers for April from the Charleston Trident Association of Realtors.

Berkeley County
Sales:
210 homes sold.
Median price: $169,500.
Most active area: Jedburg Road, U.S. Highway 17A and College Park with 49 sales at a median price of $167,000.

Charleston County
Sales:
587 homes sold.
Median price: $239,000.
Most active area: 171 sales were in Mount Pleasant at a median price of $315,000.

Dorchester County
Sales:
196 homes sold.
Median price: $167,357.
Most active area: Summerville/Ridgeville was the most active area with 87 sales at a median price of $173,000.

http://www.charlestonbusiness.com/news/47664-residential-sales-increase-18-in-first-four-months-of-2013?rss=0

Staff Report
Published May 9, 2013

Foreclosure numbers across the U.S. hit a six-year low in April, according to data from national real estate listing firm, RealtyTrac. South Carolina, however, saw a 20% increase from April 2012 in the number of filings, pushing the state into the top five for the rate of foreclosures for the month.

RealtyTrac data found that one out of every 590 homes in South Carolina had at least a notice of default against it. While South Carolina’s rate jumped for the month, the state had a total of 3,587 filings for April. The state with the next highest rate of foreclosure, Illinois, had 10,544 filings.

The highest rate of foreclosures for the month was in Beaufort County, which saw one of every 275 homes in distress, with Richland County coming in second with one of every 332 homes with at least a filing.

RealtyTrac reported that foreclosure starts in the Palmetto State were up 3.9% from March and bank repossessions were down 0.39%.

With the exception of Greenville, Berkeley and Charleston counties, which saw year-to-year April foreclosure filings decline or remain unchanged, all of South Carolina’s most populated counties saw a percentage increase in the number of filings. But only one county, Horry, saw filings go above 500 filings for the month, and Charleston County, which had the lowest rate of foreclosures, also had the fewest filings at 190.

States with highest rates of foreclosures for April 2013

 

Rank
1.
2.
3.
4.
5.
State
Nevada
Florida
Ohio
Illinois
South Carolina
Rate (1 foreclosure for every number of homes)
360
363
427
501
590

Foreclosure numbers for select S.C. counties

The number of filings against homes in South Carolina’s largest counties was below 500 for every county but one in April. Here are actual year-to-year numbers for the month in order of highest rate.

County
Richland
Dorchester
Horry
Berkeley
Lexington
Greenville
Spartanburg
Anderson
Charleston
Total filings
482
154
501
169
254
360
216
136
190
Rate
332
352
365
426
443
538
568
620
888
% change from 2012
+392%
-23.38%
+7.74%
0%
+128.83%
-8.16%
+35.22%
+8.80%
-5.47%

Source: RealtyTrac, http://www.charlestonbusiness.com/news/47646-april-foreclosures-hit-6-year-low-nationwide-increase-in-s-c?rss=0

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