Home Sales Data for Sumter, SC June 1-15, 2009
Sales Data for Sumter, SC 1-15 June 2009:
This information was for residences only; I did not include land or commercial properties. I looked only at Sumter and the surrounding area.
From June 1-15, 2009 there were 77 properties that went on the market. Lowest list price was $21,300 for a 32-year-old 3BR/2.5BA house being sold as-is/where-is; it’s not bank-owned. Highest list price was $499,999 for an (in my opinion) astoundingly overpriced home which, while it was a custom-built home (the sellers paid $395,900 for it a year and a half ago), is worth nowhere near the list price they were asking, which might explain why it was withdrawn from the market after 5 days and remains off the market now. Twelve of the new listings are new construction, one of those was withdrawn after 2 days on the market and two were pre-solds. One new listing went under contract the same day as it was listed (it’s bank-owned), one went pending the same day but is not bank-owned, and one went pending after two days on the market. One new listing was withdrawn after being on the market for one day; the sellers bought it a little over a year ago and paid $140,000 (it was listed then for $199,900), and they listed it for $319,000. I have no idea what they did to it that would make it worth over twice what they paid, apparently it’s been “completely renovated” and includes ten acres but the listing details don’t say anything about gold-plated fixtures or a household staff being included in the sale. Yes, that’s snippy you’re hearing. In any case, it’s no longer on the market. None of the new listings were condos or townhouses.
Thirty-nine properties sold (closed) between June 1st and the 15th.
Twelve of them were listed at or below $100,000. Average days on market was 153 (ranged from 1 to 263). Average list-to-sales price percentage was 92.25% (ranged from 72.86% to 100%).
Twenty-two were listed above $100,000 and below $200,000. Average days on market was 143 (ranged from 36 to 477). Average list-to-sales price percentage was 99.11% (ranged from 94.62% to 105.27%).
One was listed above $200,000 and below $300,000. It was on the market 40 days and the list-to-sales price percentage was 97.23%.
The remaining four were listed above $300,000 and below $400,000. Average days on market was 345 (ranged from 114 to 527). Average list-to-sales price percentage was 98.62% (ranged from 94.31% to 103.25%).
In contrast, for the same period a year ago (June 1-15, 2008), 76 properties went on the market (one less than this year - turnaround? Maybe, but there’s not enough data to say one way or the other). Lowest list price was $16,900 for a then 38-year-old house that sold for $17,550 as is (termite damage and all) after being on the market for 42 days. The highest list price was $399,000 for a then 14-year-old waterfront home in a highly desirable subdivision, which was withdrawn from the market after 177 days (and a price reduction of $20,000). Just FYI - after being withdrawn, it was listed again with a different agency, where it remained on the market for 139 days. It’s on the market now, with yet a third agency, and the price has been reduced another $29,100 to $349,900. They bought it in 2006 (ouch) for $309,900 and made significant upgrades. It could be they’ve upgraded it right out of the local market; it might be the only home in Sumter County with a reverse osmosis water filtration system. I have no idea why they decided they needed one; a lack of potable water isn’t one of our problems. It also has a Brazilian walnut wood deck.
People frequently baffle me.
To continue.
Of the 76 that went on the market a year ago, twelve of them have expired, twenty-four were withdrawn, five are still active, one was deleted and one is presently under contract. Eleven of the new listings were new construction and two were condos/townhouses.
Fifty-one properties sold (closed) between June 1st and 15th last year. Lowest list price was $24,900 for a bank-owned property that sold for $22,900 cash after being on the market for 225 days. The highest list price was $925,000 for a two-story colonial built in 2000; it sold for $800,000 after being on the market for 334 days.
Sixteen of the listings that sold were listed for at or below $100,000. Average days on market was 97 (ranged from 3 to 228). Average list-to-sales price percentage was 97.32% (ranged from 81.71% to 102.36%).
Twenty-two of the listings that sold were listed for above $100,000 and below $200,000. Average days on market was 130 (ranged from 18 to 491). Average list-to-sales price percentage was 97.88% (ranged from 91.76% to 102.71%).
Ten listings that sold were listed for above $200,000 and below $300,000. Average days on market was 199 (ranged from 17 to 543). Average list-to-sales price was 94.83% (ranged from 72.54% to 100%).
One listing was priced above $300,000 and below $400,000. It was on the market for 96 days and the list-to-sales price percentage was 97.79%.
One listing was priced above $400,000 and below $500,000. It was on the market for 120 days and the list-to-sales price percentage was 95.67%.
The remaining listing was the highest priced one, listed at $925,000. It was on the market for 334 days and the list-to-sales price percentage was 86.49%.
That’s it for now.
(Based on information from the Sumter Board of Realtors®/MLS, June 19, 2009)
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