COLUMBIA, S.C. – RealEstateRama – The market in South Carolina remains strong in the first quarter according to South Carolina REALTORS® (SCR) March 2021 statewide real estate market data.
Median sales price increased from $234,000 to $265,000, a 13% increase compared to this time last year, and sellers are seeing top dollar for their homes. Sales were up an average of 22% from last year with almost every area of the state experiencing significant gains.
“The data show what we’ve been expecting–big jumps over March of 2020 as well as significant growth during the 1st quarter of 2021,” said Morris Lyles, SCR 2021 president and Realtor® at ERA Wilder in Columbia.
Coastal areas led the state in sales including Hilton Head (47.9%), Charleston (+27.9%) and Myrtle Beach (+43.5%).
Beaufort had a record +56% increase in year-over-year sales. Locally, Realtors® are reporting that some houses are only on the market for less than two weeks. Statewide, homes are averaging around 60 days on the market; a drop of almost 29% compared to this time last year. Inventory has dropped 58.8% compared to this time last year.
“Like everywhere else, we have very little inventory. Many agents have buyers for homes before they even hit the market. Realtors® have limited time for showings as agents are lined up outside for the next appointment,” said Phill Nagley, SCR region 2 vice president and Realtor® at Coastal Realty Group, the Nagley Team.
Up-to-date and archived reports are available at screaltors.org/marketreports.
South Carolina REALTORS® (SCR), the largest professional trade association in the state, serves as the voice of real estate for more than 25,000 members involved in all aspects of the residential and commercial real estate industries. REALTOR® is a registered trademark that identifies a professional in real estate who subscribes to a strict code of ethics as a member of SCR and the National Association of REALTORS®.