COLUMBIA, S.C. – RealEstateRama – South Carolina REALTORS® (SCR) today released its statewide real estate market reports. The reports show home sales increasing by almost 15% throughout the month of June, compared to this time last year. New listings were up almost 8% to 11,428.
Inventory declined by 57% as buyers continue to struggle to find available homes for sale. With a lack of inventory, competitiveness in the market remains strong. The number of days a house remains on the market has declined by 42% statewide, compared to this time last year.
“Homes are selling at an average of 44 days statewide. In this market you have to be able to move quickly,” said Morris Lyles, SCR 2021 president and Realtor® at ERA Wilder in Columbia.
Myrtle Beach (+34%), Hilton Head (+25%) and Charleston (+21%) experienced the highest sales across the state throughout June. These areas have consistently led the state throughout the past year in sales, proving that the South Carolina coast is a major draw for buyers.
“With virtual working environments becoming more common place the appeal of coastal SC for buyers from across the US continues to skyrocket. Buyers are able to realize their dreams of living on the scenic coast in a moderate climate and having a sundry of outdoor activities,” said Owen Tyler, SCR immediate past president and broker in charge at The Cassina Group in Charleston.
Median sales prices climbed 18% to $285,000, a trend that is also happening nationwide.
According to the National Association of REALTORS® (NAR) throughout May, median existing home sales price exceeded $350,000, a 24% increase and the largest year-over-year increase since 1999.
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 26,000 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®.