Sales of residential homes and condominiums rose 24% in October, South Carolina Realtors reported, describing 2012 as a “comeback year.” In the report published in the Columbia Regional Business Report, The association said 4,608 homes sold last month compared with 3,717 in October 2011.
In the large markets, Greenville had the strongest percentage gain, up 35% to 660 homes sold in October, compared with 489 a year earlier. Charleston sales rose 30.7%, to 894 from 684 a year earlier. Columbia posted 663 homes sold, up 29.7% from 511 in October 2011. Compared with October 2011, new listings in South Carolina increased 10.1% to 7,888, while pending sales were up 26.7% to 4,676. Inventory levels shrank 13.4% to 46,776 units.
Prices were fairly stable, the association said, as the median sales price increased 0.1% to $149,900. Days on the market was down 10.8% to 131 days. Absorption rates improved as months’ supply of inventory was down 24.7% to 10.2 months. The price range for homes with the strongest sales statewide was $200,001 to $300,000, with a 19.5% sales gain in that category. The property type with the strongest sales gains was condos, up 18%.