SC REALTORS(R) release November 2021 market reports

COLUMBIA, S.C. – RealEstateRama – South Carolina REALTORS® (SCR) today released its monthly statewide real estate market reports. Closed sales were up almost five percent compared to the same time last year while pending sales decreased very slightly at 0.2% to 8,566.

New listings were up 3.5% to 9,323, inventory shrank 29% to 13,492 units, and prices again moved higher, up 12.4% to $286,000. The most recent data from the National Association of REALTORS® (NAR) reports the median single-family existing-home sales price rose 16% in the third quarter of this year to $363,700, with all four regions of the country experiencing double-digit price growth.

Homes also continue to sell at record speed with days on market decreasing 30% to 46 days. There continues to be competition with a dwindling month supply of inventory, which was down 35% to 1.3 months.

In new construction, builder confidence increased in November, surpassing
analyst expectations and rising to 83 on the National Association of Home Builders
(NAHB)/Wells Fargo Housing Market Index (HMI), the highest level since spring,
despite persistent labor and supply chain challenges and a shortage of available
Lots.

“The holiday season is typically a slow time for Realtors®, but with an improving economy and decreased unemployment we’re staying busy and seeing that the demand is still very strong,” said SCR 2021 President Morris Lyles.

Up-to-date and archived reports are 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 27,000 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®.