Despite inventory shortage, South Carolina housing sales strong

Dated: March 17 2021

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COLUMBIA, S.C. (March 17, 2021) -- South Carolina REALTORS® (SCR) today released its February 2021 statewide real estate market data revealing inventory has hit an all-time low, with half of the number of available homes on the market compared to last year. Despite the shortage, home sales remain high with sellers receiving 14% more for money for the sale of their home than this time last year.
The average sale of residential homes, condos and villas across South Carolina was up 13% in February compared to the same time last year. Hilton Head (+39.4%), Charleston (+27.9%), Beaufort (20%) and Myrtle Beach (18.7%) continue to lead sales throughout the state. 
See detailed market stats for your South Carolina County ->
Median sales price was up statewide throughout February to $259,475. Last year, the statewide average price was $226,800. 

Buyer demand continued to be robust in February, leading to many multiple offer situations as housing supply continues to remain severely constrained in most areas. This imbalance of prospective buyers to available homes for sale will continue to support multiple offers and with it, higher home sales prices, as we enter a typically busy spring market.

Strong sales market are predicted to continue throughout the spring. Inventory levels should rise as sellers who were apprehensive about listing during the pandemic may be more comfortable putting their home on the market. 

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Wayne Gaddy

Wayne is a Local Real Estate Broker/REALTOR® representing folks with buying or selling Residential Homes, Condos, Vacation Homes, New Homes, Land and Investment Property. Grand Strand specialist who ....

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