Despite inventory shortage, South Carolina housing sales strong

Dated: March 17 2021

Views: 194

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 ->  screaltors.org/marketreports
 
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. 

INSTANTLY Find Out what your Home Value is ->  MY HOME VALUE NOW

If you are planning on Buying or Selling, let's talk soon!

Work with Wayne! 

Call me 843-603-5552

Blog author image

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 ....

Latest Blog Posts

Will Home Prices Keep Rising?

HOMEBUYER'S ADVICE  Will Home Prices Keep Rising?Homebuyers are getting a lot of mixed messages this year. Interest rates are near record lows, but housing prices are still rising. So

Read More

Home Sales Boom in Myrtle Beach and entire Grand Strand

If you're thinking about selling your home:1️⃣ STOP what you're doing 2️⃣ Follow this link to instantly calculate your home’s value in today’s market based on recent sales in The

Read More

Why This Is a Great Year to Sell Your Vacation Home

Why This Is a Great Year to Sell Your Vacation HomeAs vaccines are administered and travel resumes, many of us are beginning to plan for those long-awaited vacations we missed out on over the past

Read More

April 2021 Myrtle Beach Real Estate Market

In the past 7 days REALTORS in the Grand Strand have place over 800 homes and condo's under contract. If you are looking in this fast paced market, work with REALTOR who can help you put your best

Read More