What happened in the South Carolina real estate market? How did 2017 compare to 2016? I’ll explain today.
How did the 2017 real estate market compare to the 2016 market here in South Carolina?
The market is continuing to move up.
In 2016, there were 16,158 properties listed for sale on the market in the Midlands. Out of those, 11,200 actually sold, which is 69%. In 2017, there were 16,452 properties listed for sale and out of that, 11,757 actually sold. That is a 5% increase over 2016.
That means that about 73% of inventory sold in 2017, which means the market is going in the right direction.
In 2016, the average sold price was $192,754. In 2017, the average price was $194,820, which is about a 1% increase.
That isn’t necessarily the total appreciation rate of properties in the Midlands. Appreciation rates vary from area to area. For example, homes near Lake Murray may appreciate at a more rapid pace than properties in other areas of town.
The good news is that sales are up and prices are up. If you are thinking about selling your house, now might be a good time to do so.
If you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon
The market is continuing to move up.
In 2016, there were 16,158 properties listed for sale on the market in the Midlands. Out of those, 11,200 actually sold, which is 69%. In 2017, there were 16,452 properties listed for sale and out of that, 11,757 actually sold. That is a 5% increase over 2016.
That means that about 73% of inventory sold in 2017, which means the market is going in the right direction.
Now might be a good time to put your home on the market.
In 2016, the average sold price was $192,754. In 2017, the average price was $194,820, which is about a 1% increase.
That isn’t necessarily the total appreciation rate of properties in the Midlands. Appreciation rates vary from area to area. For example, homes near Lake Murray may appreciate at a more rapid pace than properties in other areas of town.
The good news is that sales are up and prices are up. If you are thinking about selling your house, now might be a good time to do so.
If you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon
