Updated Market Data Report from SCAR

South Carolina REALTORS® (SCR) has released its September Statewide Market Reports. Normalcy is returning to the housing market and all major indices showcase a fairly robust price recovery.  New Listings in the state of South Carolina increased 9.9 percent to 8,165. Pending Sales were up 8.7 percent to 4,655. Inventory levels shrank 6.2 percent to 46,597 units. Prices moved higher as the Median Sales Price increased 3.2 percent to $159,500. Days on Market was down 9.1 percent to 115 days. Absorption rates improved as Months Supply of Inventory was down 20.3 percent to 8.9 months.  There’s some evidence that it’s not just first-time home buyers fueling the recovery. Move-up buyers are also pulling their weight. Some baby boomers are ready to look for less space while the younger generation seeks bigger space. For more information please visit www.screaltors.org