SC MLS Stats – Second Quarter 2007
According to the South Carolina Association of REALTORS® (SCAR) homes sales estimates for the second quarter of 2007, inventories rose by ten percent in the second quarter, while overall prices are holding steady. Total sales dipped by 8.3 percent for the first half of the year, with signs that many markets are building momentum. Half of the regions of the state report stable or positive growth. Inventories are approaching traditional levels which is necessary to sustain a healthy real estate market.
Compared to second quarter sales in 2006, total sales from April through June declined to 18,120. Despite the overall decline, only five of the 15 reporting regions showed significant declines in sales this quarter, according to the Multiple Listing Service (MLS) data from SCAR. The Rock Hill (+18%) area continues to lead the state in growth, followed by the Pee Dee (+11%). Home prices show changes in each region of the state, but overall prices are rose by $1,000 to $164,000.
Nick Kremydas, SCAR’s CEO, explained, “This year’s sales figures indicate an expected correction in our housing market. I think we’ve seen the worst of it. I expect significant improvements in the next quarter. Prices are holding steady, and homes are staying on the market longer. That’s why, especially now, it’s crucial to work with a REALTOR® whether you’re buying or selling a home.”
