Home Sales Data for Sumter, SC March 16-31, 2009
In the last two weeks of March (16-31 March 2009):
For the period 16-31 March, there were 111 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 $8,900 for an as-is where-is mobile home that went pending after nine days on the market. Highest was $440,000, a five-year-old home described as “highly upgraded,” measuring 3,200 square feet, four bedrooms and four and a half baths, blue pearl granite (doesn’t say where, I’m assuming counter tops), mouldings, “plush” carpeting, security system, all the bells and whistles. I do hope the agent will be holding an agent open house, I’d really like to see it. The photos are lovely but probably don’t do it justice. Of the new listings, two were condos/townhouses, six were duplexes (one of which was pulled off the market the same day it was listed, three of which are selling only the one side of the duplex and one of those is a short sale, and one listing selling the entire duplex in a short sale). Eleven are new construction.
Forty-five properties sold (closed). The lowest list price was $14,900 for an as-is/where-is brick home built in 1964, which had no HVAC. It was on the market for 234 days and originally listed for $39,900; it sold for $14,900. The highest list price was for home built in 1997 (listing says it’s a “Southern Living Home” – that may mean one of their floor plans was used to build it) that was on the market for 57 days and originally listed for $282,600 and it sold for that amount.
Fourteen of the 45 properties sold were listed at or below $100,000. Average days on market was 166 (ranged from 17 to 393). Average ratio of list-to-sales price was 86.88% (ranged from 40.13% to 110.22%).
Twenty-eight of the 45 properties sold were listed above $100,001 and below $200,000. Average days on the market was 151 (ranged from 12 to 544). Average ratio of list-to-sales price was 98.03% (ranged from 83.81% to 109.32%).
The remaining three listings were listed for above $200,001 and below $300,000. Average days on the market was 77 (ranged from 12 to 161). Average ratio of list-to-sales price was 98.94% (ranged from 96.81% to 100.00%).
In contrast, for the same period a year ago there were 81 new listings posted. The lowest list price was $10,500 for an as-is/where-is bank-owned mobile home that sold for $8,250 and was on the market for 32 days. The highest list price was $349,300 for a 2,898 square foot four-bedroom three-bath three-year-old patio home in a nice subdivision that hasn’t moved much – in fact this home is still on the market and the price remains the same as it was a year ago. Make an offer – they might take less. Of these 81 new listings, 16 were new construction, one was a condo and three were duplexes. Of the condos/duplexes only one sold. The rest were rented, expired or were withdrawn from the market.
Sixty-one properties sold (closed) between March 16-31, 2008.
Thirteen of them were listed at or below $100,000. Average days on market was 89 (ranged from 19 to 253). Average list-to-sales ratio was 94.7% (ranged from 50% to 111.43%).
Forty-four of them listed between $100,001 and $200,000. Average days on market was 179 (ranged from 29 to 726). Average list-to-sales ratio was 99.01% (ranged from 80.04% to 106.05%).
Three listed between $200,001 and $300,000. Average days on market was 128 (ranged from 35 to 188). Average list-to-sales ratio was 99.04% (ranged from 98.26% to 100.44%).
The remaining listing was priced at $349,000 and sold for $313,000 after being on the market for 599 days.
I’ve been reading reports (and I know you have too) that indicate the economy is beginning to swing back. I hope so. I hope it’s the beginning of the recovery – and not a dead-cat bounce.
(Based on information from the Sumter Board of Realtors®/MLS, March 2009)
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