Sales Data for Sumter, SC 1-15 March 2009
I’m late again. Seems to be a trend.
For the period 1-15 March, there were sixty seven new listings posted. These were all residences; I did not include land or commercial properties. I looked only at Sumter and the surrounding area.
The lowest list price was $6,000 for an as-is where-is property that was an estate sale and listed, sold and closed all on the same day. Highest was $780,000, a rebuilt (in 1969) colonial that was on the market a couple of years ago and never sold; looks like they’re trying again, and asking a bit less than they were before.
Twenty-seven properties sold (closed). The lowest list price was the $6,000 as-is where-is I mentioned in the previous paragraph. The highest list price was for a new construction that listed for $179,900 and sold for $184,245. Probably had some upgrades. It was on the market 155 days. Of the new listings, four were new construction, one of which went pending the same day it was listed (probably a pre-sold). Three of the new listings were duplexes and three were condos (one being tenant-occupied). One new listing was on the market 7 days when it went pending.
Ten of the 27 sold were listed at or below $100,000. Average days on market was 188 (ranged from 1 to 474). Average ratio of list-to-sales price was 90.26% (ranged from 67.27% to 100.11%).
The remaining 17 were listed above $100,001 and below $200,000. Average days on market was 193 (ranged from 41 to 549). Average ratio of list-to-sales price was 98.73% (ranged from 90.49% to 103.42%).
In contrast, for the same period a year ago there were 86 new listings posted. The lowest list price was $29,900 for an as-is where-is bank-owned property that eventually was lowered to $7,900 and sold for $7,500 after being on the market for 156 days. The highest list price was $449,900 for a two-story colonial in an established subdivision. It’s still on the market, and they’ve come down $40,000 on the list price in that time; it’s now listed for $409,900. Of these 86 new listings, 11 were new construction, two were condos (one of which was withdrawn at five months) and three were duplexes (one was withdrawn at 7 months and one was withdrawn and deleted after 12 days on the market — no idea why).
Forty-six properties sold (closed) between March 1-15, 2008.
Twenty-three of them were listed at or below $100,000. Average days on market was 148 (ranged from 1 to 1,150 — yikes). If we eliminate the 1 and the 1,150 — yikes — the average was 107 days on the market. Average list-to-sales ratio (including all 23 of them) was 96.59% (ranged from 81.59% to 119.72%).
Seventeen of them listed between $100,001 and $200,000. Average days on market was 206 (ranged from 36 to 738). Average list-to-sales ratio was 98.45% (ranged from 70.04% to 104.07%).
The remaining 6 listed between $200,001 and $300,000. Average days on market was 271 (ranged from 141 to 502). Average list-to-sales ratio was 95.88% (ranged from 88% to 101.25%).
Still hanging on and waiting for the pendulum to swing the other way.
(Based on information from the Sumter Board of Realtors®/MLS, March 2009)
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