Housing Supply Overview A RESEARCH TOOL PROVIDED BY SOUTH CAROLINA REALTORS February 2019 Although inventory continues to show signs of improvement across the country especially in markets in the western part of the U.S. the national increase seems to be coinciding with a reduction in sales. This could be because the inventory increases are in higher price ranges that many buyers cannot currently afford. For the 12-month period spanning March 2018 through February 2019, Pending Sales in the Western Upstate region were down 0.9 percent overall. The price range with the largest gain in sales was the range, where they increased 6.6 percent. The overall Median Sales Price was up 4.8 percent to $174,000. The property type with the largest price gain was the segment, where prices increased 8.9 percent to $132,500. The price range that tended to sell the quickest was the range at 96 days; the price range that tended to sell the slowest was the range at 136 days. Market-wide, inventory levels were up 7.8 percent. The property type that gained the most inventory was the segment, where it increased 35.0 percent. That amounts to 4.2 months supply for Single-Family homes and 4.9 months supply for. Quick Facts + 6.6% + 0.3% - 0.9% Price Range With the Strongest Sales: Bedroom Count With Strongest Sales: Pending Sales Days on Market Until Sale Median Sales Price Percent of List Price Received Inventory of Homes for Sale Months Supply of Inventory Property Type With Strongest Sales: Single-Family 2 3 4 5 6 7 Current as of March 10, 2019 All data from the Western Upstate Association of REALTORS Multiple Listing Service. Provided by South Carolina REALTORS. Report 2019 ShowingTime. 1
Pending Sales A count of properties on which offers have been accepted. Based on a rolling 12-month total. 981 868 1,239 1,121 1,109 1,124 1,051 1,054 951 1,004 2,990 2,949 4,871 4,829 1,498 1,485 731 733 33 21-11.5% - 9.5% + 5.5% + 6.6% + 5.6% + 0.3% -1.4% -0.9% -0.9% - 36.4% All Properties Change Change Change 981 868-11.5% 881 773-12.3% 7 3-57.1% 1,239 1,121-9.5% 1,069 986-7.8% 15 9-40.0% 1,051 1,109 + 5.5% 1,000 1,041 + 4.1% 4 5 + 25.0% 1,054 1,124 + 6.6% 1,001 1,059 + 5.8% 4 2-50.0% 951 1,004 + 5.6% 920 970 + 5.4% 3 2-33.3% All Price Ranges 5,276 5,226-0.9% 4,871 4,829-0.9% 33 21-36.4% Change Change Change 731 733 + 0.3% 553 556 + 0.5% 15 10-33.3% 3 Bedrooms 2,990 2,949-1.4% 2,858 2,804-1.9% 9 8-11.1% 4 Bedrooms or 1,498 1,485-0.9% 1,404 1,411 + 0.5% 9 3-66.7% All Bedroom Counts 5,276 5,226-0.9% 4,871 4,829-0.9% 33 21-36.4%
Days on Market Until Sale Average number of days between when a property is listed and when an offer is accepted. Based on a rolling 12-month average. 75 97 96 97 53 55 71 114 102 136 82 99 98 61 80 128 70 108 42 119 + 29.3% + 81.1% + 76.4% + 60.6% + 33.3% + 20.7% + 60.7% + 60.0% + 54.3% + 183.3% All Properties Change Change Change 75 97 + 29.3% 74 95 + 28.4% 21 82 + 290.5% 53 96 + 81.1% 55 95 + 72.7% 50 164 + 228.0% 55 97 + 76.4% 53 95 + 79.2% 121 145 + 19.8% 71 114 + 60.6% 71 114 + 60.6% 11 31 + 181.8% 102 136 + 33.3% 102 138 + 35.3% 0 32 -- All Price Ranges 70 108 + 54.3% 70 108 + 54.3% 42 119 + 183.3% Change Change Change 82 99 + 20.7% 83 96 + 15.7% 43 57 + 32.6% 3 Bedrooms 61 98 + 60.7% 60 98 + 63.3% 63 128 + 103.2% 4 Bedrooms or 80 128 + 60.0% 83 128 + 54.2% 5 231 + 4520.0% All Bedroom Counts 70 108 + 54.3% 70 108 + 54.3% 42 119 + 183.3%
Median Sales Price Median price point for all closed sales, not accounting for seller concessions. Based on a rolling 12-month median. $265,000 $271,633 $174,000 $166,000 $170,000 $176,000 $155,000 $163,490 $121,636 $132,500 $88,000 $95,000 + 8.0% + 5.5% + 2.5% + 4.8% + 3.5% + 8.9% All Properties All Properties Change Change Change $88,000 $95,000 + 8.0% $84,500 $92,000 + 8.9% $113,500 $114,500 + 0.9% 3 Bedrooms $155,000 $163,490 + 5.5% $155,025 $164,000 + 5.8% $145,500 $141,000-3.1% 4 Bedrooms or $265,000 $271,633 + 2.5% $274,000 $280,000 + 2.2% $120,000 $140,000 + 16.7% All Bedroom Counts $166,000 $174,000 + 4.8% $170,000 $176,000 + 3.5% $121,636 $132,500 + 8.9% Current as of March 10, 2019 All data from the Western Upstate Association of REALTORS Multiple Listing Service. Provided by South Carolina REALTORS. Report 2019 ShowingTime. 1
Percent of List Price Received Percentage found when dividing a property's sales price by its last list price, then taking the average for all properties sold, not accounting for seller concessions. Based on a rolling 12-month average. 97.1% 97.6% 97.8% 97.9% 97.5% 97.4% 95.9% 96.5% 97.3% 96.7% 96.6% 96.7% 96.2% 96.7% 92.7% 93.4% 93.7% 94.4% 95.2% 95.3% + 0.8% + 0.5% + 0.1% - 0.1% + 0.6% + 0.7% + 0.6% + 0.1% + 0.5% + 0.1% All Properties Change Change Change 92.7% 93.4% + 0.8% 92.4% 93.2% + 0.9% 92.5% 94.6% + 2.3% 97.1% 97.6% + 0.5% 97.1% 97.8% + 0.7% 96.8% 94.7% - 2.2% 97.8% 97.9% + 0.1% 97.9% 98.0% + 0.1% 98.8% 95.2% - 3.6% 97.5% 97.4% - 0.1% 97.4% 97.4% 0.0% 100.0% 98.9% - 1.1% 95.9% 96.5% + 0.6% 95.8% 96.5% + 0.7% 0.0% 97.5% -- All Price Ranges 96.2% 96.7% + 0.5% 96.2% 96.7% + 0.5% 95.2% 95.3% + 0.1% Change Change Change 93.7% 94.4% + 0.7% 93.1% 94.0% + 1.0% 93.5% 94.6% + 1.2% 3 Bedrooms 96.7% 97.3% + 0.6% 96.7% 97.3% + 0.6% 96.1% 96.4% + 0.3% 4 Bedrooms or 96.6% 96.7% + 0.1% 96.6% 96.8% + 0.2% 98.8% 93.8% - 5.1% All Bedroom Counts 96.2% 96.7% + 0.5% 96.2% 96.7% + 0.5% 95.2% 95.3% + 0.1%
Inventory of Homes for Sale The number of properties available for sale in active status at the end of the most recent month. Based on one month of activity. 604 656 773 868 666 703 1,598 1,681 258 229 233 300 316 265 366 359 233 246 117 158-11.2% + 28.8% + 19.2% - 1.9% + 8.6% + 5.6% + 12.3% + 5.6% + 5.2% + 35.0% All Properties Change Change Change 258 229-11.2% 217 181-16.6% 36 37 + 2.8% 233 300 + 28.8% 191 255 + 33.5% 38 43 + 13.2% 265 316 + 19.2% 246 275 + 11.8% 17 40 + 135.3% 366 359-1.9% 349 343-1.7% 17 14-17.6% 604 656 + 8.6% 595 627 + 5.4% 9 24 + 166.7% All Price Ranges 1,726 1,860 + 7.8% 1,598 1,681 + 5.2% 117 158 + 35.0% Change Change Change 233 246 + 5.6% 174 177 + 1.7% 53 60 + 13.2% 3 Bedrooms 773 868 + 12.3% 726 798 + 9.9% 45 62 + 37.8% 4 Bedrooms or 666 703 + 5.6% 645 663 + 2.8% 19 36 + 89.5% All Bedroom Counts 1,726 1,860 + 7.8% 1,598 1,681 + 5.2% 117 158 + 35.0%
Months Supply of Inventory The inventory of homes for sale at the end of the most recent month, divided by the average monthly pending sales from the last 12 months. Based on one month of activity. 3.2 3.2 3.2 3.4 3.0 2.3 4.2 3.8 7.6 7.8 3.8 4.0 3.1 3.5 5.3 5.7 3.9 4.2 3.6 4.9 0.0% + 39.1% + 13.3% - 9.5% + 2.6% + 5.3% + 12.9% + 7.5% + 7.7% + 36.1% All Properties Change Change Change 3.2 3.2 0.0% 3.0 2.8-6.7% 4.6 4.7 + 2.2% 2.3 3.2 + 39.1% 2.1 3.1 + 47.6% 2.8 4.0 + 42.9% 3.0 3.4 + 13.3% 3.0 3.2 + 6.7% 3.7 7.5 + 102.7% 4.2 3.8-9.5% 4.2 3.9-7.1% 3.6 2.7-25.0% 7.6 7.8 + 2.6% 7.8 7.8 0.0% 3.1 8.7 + 180.6% All Price Ranges 3.9 4.3 + 10.3% 3.9 4.2 + 7.7% 3.6 4.9 + 36.1% Change Change Change 3.8 4.0 + 5.3% 3.8 3.8 0.0% 3.7 4.2 + 13.5% 3 Bedrooms 3.1 3.5 + 12.9% 3.0 3.4 + 13.3% 4.3 5.2 + 20.9% 4 Bedrooms or 5.3 5.7 + 7.5% 5.5 5.6 + 1.8% 2.5 6.1 + 144.0% All Bedroom Counts 3.9 4.3 + 10.3% 3.9 4.2 + 7.7% 3.6 4.9 + 36.1%