How has our real estate market improved in the past year? Here’s what you need to know.
Today we’re going to compare our 2018 numbers to our 2017 numbers to determine
where our real estate market is headed. The results are in, and for the most
part, they’re positive.
where our real estate market is headed. The results are in, and for the most
part, they’re positive.
In 2017, there were 15,391 active listings in the heart of the Midlands, including
Richland, Lexington, and Kershaw Counties. 11,009 of those listings sold that year, which
comes out to 71.53%
comes out to 71.53%
In 2018, only 14,902 properties were listed for sale, but 11,586 of them sold. That means
that 77.75% of these properties sold. The fact that the ratio of listed to closed properties
is going up is very good.
is going up is very good.
As for the average list price, 2017’s figure was $204,838. The average sold price in 2017
was $200,013. This means that homes sold for an average of 97.64% of list price, which is an
outstanding figure.
outstanding figure.
In 2018, the average list price was $214,426 and the average sold price was $209,550.
That comes out to a 97.73% list to sold ratio. The ratio remains pretty similar, but the
average sale price is up just over 9%, which is more great news for sellers. The bottom line is
that more houses are selling at higher prices.
average sale price is up just over 9%, which is more great news for sellers. The bottom line is
that more houses are selling at higher prices.
Finally, let’s look at our average days on market. In 2017, homes sold in an average of 67 days.
In 2018, that figure dropped to just 57 days.
All of these numbers are going the way we want them to go in a positive direction. However, every area and every neighborhood is different. If you want the specific numbers for your home, don’t hesitate to reach out and give us a call or send us an email. We would be happy to assist you.
