Prices increase, inventory tight through April

COLUMBIA, S.C. (May 14, 2020) – RealEstateRama – South Carolina REALTORS® (SCR) today released its April market data. The report reflects some expected downward trends due to the Coronavirus pandemic, but showed positive ones as well.

South Carolina saw a 7% decrease in year-to-date closed sales according to the latest data with 26,734 homes sold compared to 28,732 at this time last year.

“Realtors® continue to do business, but it is not business as usual,” said SCR CEO Nick Kremydas. “Realtors® have been following CDC, WHO and National Association of REALTORS® (NAR) safety guidelines as they continue to work and help keep the South Carolina economy going.”

As inventory remains tight, prices increased by almost 11% to $229,900, year-to-date. And despite the pandemic, homes sold more quickly with an almost 8% decrease in days on market.

“We expect the South Carolina real estate market will continue to be impacted by coronavirus as we go into late spring and early summer. But, while we know that social distancing, higher unemployment and overall economic activity will constrain these numbers, we believe there will be a lot of pent up demand and activity as soon as the economy starts to churn again,” said SCR CEO Nick Kremydas.

The statewide reports are attached. FastStats are also available at screaltors.org/marketreports.

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South Carolina REALTORS® (SCR), the largest professional trade association in the state, serves as the voice of real estate for more than 24,000 members involved in all aspects of the residential and commercial real estate industries. REALTOR® is a registered trademark that identifies a professional in real estate who subscribes to a strict code of ethics as a member of SCR and the National Association of REALTORS®.

Contact: Sharon Delia Stone 803-772-5206