December 2009 Sumter, SC Market Report

By
Real Estate Agent with AgentOwned Realty, Heritage Group, Inc.
 
 
Market Summary Thru December 31, 2009
 

Market Statistic

November 2009

 December 2009

Trend

Median Price of Homes Sold

$129,900

 $122,500

-

Average Price of Home Sold

$135,428

 $124,936

-

Least Expensive Home Sold

$7,000

$10,000

+

Most Expensive Home Sold    

$333,500

 $249900

-

Price/ Sq. Ft.

$74.56

$70.74

-

Average Days of Market (DOM)

169

148

-

Total Active Inventory

1314

 1256

-

Median Home Size

1664

 1571

-

Median Number of Bedrooms

3

3

 

Median Number of Bathrooms

2

2

 

 

Sumter county in December 2009 had 64 units closed.  This is down from November and December, but considering the time of year and holidays, this is not unusual.  There was a lot of buyer activity though with many buyers moving into the area.  The question that only time will tell is if we see an increase January and February.  We are currently a week and half into January and we are seeing closings.  This might not seem significant, but most home buyers close at the end of the month not near the beginning to avoid interim interest. 
Units Sold Per Month Sumter, SC
 
The total number of homes sold in Sumter, South Carolina for 2009 was 937.  In 2008 there were a total of 1025 units close for the year.  So even though we have fallen short of the total number of units, sold we still need to look closely at the number of closings per month.  In October, November and December 2009, Sumter had more units closed by the month than the same months in 2008.  Does this mean the market has turned around?  It might be a very good indication that we are seeing changes in the market.  
 
Year To Date Units Sold
 
The days on market decreased dramatically in December down from 169 in November to 148 days in December.  With the changes we are seeing in the number of units sold by month and the days on market, we very well might be seeing the market turn.  
 
Days on Market Sumter, SC
The number of new listings in Sumter increased in December 2009 by 10 units.  We normally see a decrease in the number of new listings during November and December, but many home sellers are getting their homes on the market earlier to prepare for a spring sale.  This allows buyers more time to preview their homes online before arriving for house hunting. 
New Listings Sumter, SC
 
Even with the increase in the number of new listings in December, we fell short of the 2008 number of new listings. 2009 had 1854 units listed and 2008 had 1969.     
 
Year to Date Listing Sumter SC Real Estate Market
The total number of listings available decreased from November to December.  Since this is a newer statistic to the report, we are still watching it for trends and how it interacts with the other statistics.     
Active Listings Sumter SC
 
The median home price decreased in Sumter.  The current price of $122,500 is an indication of the homes being sold.  Along with the median home price being lower in December, the average home price, $ per square foot and median home square footage also decreased.  These statistics continue to trend along with each other. 
Median Home Prices Sumter, SC
 
The average price per sq. foot decreased in December.  This is no surprise given the median home price, average home price and square footage also decreased.  December showed smaller homes with fewer upgrades being closed.   
 
$/Sq Foot Average Sumter, SC
As I recommend every month, please consult a local Realtor® about the local market.  Every real estate market is local.  There is no National rules that every market in the United States follows when it comes to the ups and downs.  
 
I hope you find this real estate market report for Sumter County, SC informative.  If you have any suggestions or questions, please email me at kim@agentowned.com and I will help you in any way possible. 
 
Kim Peasley-Parker
Realtors®/Shareholder
AgentOwned Realty,
Heritage Group, Inc.
Sumter, SC
Cell 803-840-7519
Serving all of Sumter County including Sumter, Dalzell, and Shaw Air Force Base area
 
Copyright, Kim Peasley-Parker January 2010
 
 

 

Posted by

Information and Content in this blog is original to Kim Peasley-Parker unless otherwise stated.

Kim Peasley-Parker, Sumter Real Estate

 

 

Kim Peasley-Parker

Realtor (R) /Shareholder

AgentOwned Realty Company

Heritage Group, Inc.

Cell 803-840-7519

Email: kim@agentownedrealty.com

 

 

 

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Rainmaker
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Liz Loadholt
Liz Loadholt- AgentOwned Realty- Covering SC - Mount Pleasant, SC
Realtor--Broker-in-charge - Trainer--Relocation Director Covering SC

Kim ---- this is an excellent report on Sumter county real estate -- you have given such details -- I know your consumers are thrilled to get such a report -- excellent job.
                                                                                     
                                                                                    

Jan 13, 2010 04:16 PM #1
Rainmaker
1,876,834
Lou Ludwig
Ludwig & Associates - Boca Raton, FL
CRB, CRS, CIPS, GRI, SRES, TRC, e-PRO

Kim

Thanks for sharing the market update.

Good luck and success.

Lou Ludwig

Jan 13, 2010 09:50 PM #2
Anonymous
Boyd Loadholt

Kim,

This an Excellent report!  Great Job!

Boyd

Jan 14, 2010 11:31 AM #3
Rainmaker
663,497
Jim & Maria Hart
Brand Name Real Estate - Charleston, SC
Charleston, SC Real Estate

Hey, Kim

Those are some great stats. Lets make 2010 a great year. All my best, Jim

Jan 15, 2010 12:01 PM #4
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Rainmaker
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Kim Peasley-Parker

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