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House sales in SC rose 19% in January, as prices soared more
South Carolina home sales did not decline during normally cooler sales in January each year, as record sales, low inventory and rising prices continued into the new year.
Across the state of Palmetto, residential real estate transactions increased 19 percent during the first month of the year compared to the same month in 2020, according to the SC Realtors Association.
In January, 6,752 houses changed hands in January at an average price of $ 255,000, a price of almost 16%, or $ 35,000 more than last year, at the same time.
The state reported 15,562 homes on the market in January, a decline of nearly 42 percent from 12 months earlier. For comparison, in January 2019, more than 30,000 homes were listed for sale in South Carolina.
All major metropolitan areas in the state reported increased sales.
Charleston showed a jump of almost 25%, Greenville 22%, Columbia 10% and Myrtle Beach 20%.
The expensive Hilton Head had particularly rising sales, up 56% compared to last year, and the average price there jumped nearly 17% to more than $ 390,000, the highest in South Carolina.
“Homes are selling at a record pace and have a very, very scarce supply,” said Phil Nagley, vice president of the group of realtors who work for the Coastal Realty Group, the Nagley team, in Bluffton.
“I believe this will continue in the foreseeable future, as South Carolina has become the place to be, and the south coast is right on the fly,” he said. “Not only have houses been popular, but land purchases are rapidly increasing in steam. We are seeing a lot of transactions involving ‘invisible’ properties, houses and land.”
The scarcity of homes continues to plague the market and raise prices.
“The stock is simply not there, which is one reason why homes are selling faster than ever,” said Morris Lyles, president of the group of real estate agents working at ERA Wilder in Columbia.
“This time, last year, the houses were sold in an average of 85 days,” he said. “Currently, the state average is 65 days”.
Nationally, the stock fell nearly 26 percent, according to the National Association of Realtors.
A five-bedroom home called Roosevelt is among three to five bedroom offerings in a new rental housing community called Blackstone Preserve, now open south of Moncks Corner. Rendering / American Homes 4 Rent
Opening of new rental homes in Berkeley County
American Homes 4 Rent, based in California, is now offering 107 new rental homes on Cypress Gardens Road, south of Moncks Corner.
By the numbers
6: Number of new restaurants, cafes or bars and steakhouses open now or on the way in the Charleston area.
200: Number of meters that the proposed mini-storage developments must be from a mixed-use residential neighborhood in Charleston, a regulation that prevents U-Haul Moving and Storage from constructing a six-story building that it wants to add on the upper King Street.
535: Number of new homes for the 55+ age group arriving in Myrtle Beach in a new development.
This week in the real estate market
+ From the ice to the office: An old North Charleston ice distribution site is slated to be transformed into a $ 17 million mixed-use office and a retail development on Spruill Avenue.
+ Affordable investment: Bridgeview, a low-income apartment complex with 300 units on the upper peninsula of Charleston, is now under new management.
+ Affordable infusion: More than 400 affordable apartments are arriving on the Charleston peninsula.
Doris Lancaster, 92, talks about growing up on Sullivan’s Island and going to the cinema in the old theater that was built to serve soldiers and their families in Fort Moultrie. Brad Nettles / Team
New meaning for ‘home movies ‘
An old cinema built for soldiers could become a new home on Sullivan’s Island. Doris Lancaster, 92, remembers growing up on the island and going to the cinema that served the military and their families in Fort Moultrie.
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Catch up Warren L. Wise at 843-937-5524. Follow him on Twitter @warrenlancewise.