Current Update of Columbia SC Real Estate Market
Posted Nov 3rd, 2015
The third quarter of 2015 has ticked its last tock with the hands pointing firmly upon a reliable clock of a market. Although noon and 6:30 fluctuations are present even within the same states and cities, the overall tempo of real estate potential is experiencing a healthy number of good omens. The job market has shown continual improvement, jobless rates are down, real average hourly and weekly earnings have been up and there has been good news in new household formation.
New Listings were up 19 percent to 1368. Pending Sales decreased 7.6 percent to 802. Inventory grew 17.4 percent to 5829 units.
Prices moved higher as Median Sales Price was up .6 percent to $149,882.
Days on market decreased 16.8 percent to 84 days, the tenth consecutive month of year-over-year declines. Monthly Supply of Inventory remained flat at 6.2
With positive economic news coming from many angles, there are no imminent factors to prepare for beyond the typical seasonal drop-off. From the mouths of market analyzing pundits, we are in the midst of one of the healthiest housing markets in the past 15 years. The one thing we were anticipating in September, an increase in interest rates, did not happen.
It most likely will before year’s end,
Until then Enjoy the Ride and Keep Selling, Selling, And Selling!!
Information courtesy of CMLS*
