STATEWIDE HOME SALES INCREASE 16% IN MAY

Wednesday, 24 June 2009

Staff Report

COLUMBIA – While overall home sales are still down compared to last year’s levels, most regions in the state enjoyed an increase in the number of homes sold in May.

"With the first-time home buyer tax credit expected to boost sales, Realtors in South Carolina are already seeing summer activity heating up,” said Nick Kremydas, CEO of the S.C. Association of Realtors.

The association is reporting 3,704 homes were sold in May, about a 16.5% increase over homes sold in April. Still, May 2009 sales are down 21.4% compared to May 2008.

Fifteen regions report home sales for the association and all but three posted increases. Cherokee County, Spartanburg and Western Upstate MLS all reported a slight decrease in home sales for May.

Of the state’s three major metropolitan areas, Charleston reported an increase in sales in May over April of 28%. Columbia and Greenville reported increases of 16% and 14%, respectively.

The median price of homes in South Carolina was $142,000 and the average number of days homes stayed on the market was 155.

Nationwide, home sales also increased in May, with the National Association of Realtors reporting the 2.4% increase over April represented the first back-to-back monthly gain since September 2005. Still, year-over-year numbers were down 3.6%.

Published June 24, 2009

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