About Sumter County, SC

Many residents of Wintergreen are aware of the Remote Control Car Race track in the Shaw Memorial Park next door to the subdivision. On a bright sunny Sunday, I decided to go over and check it out for myself. What a found was a bunch of really nice Sumterites with guests from as far away as Raleigh, NC and Savannah, GA.

I was greeted by several members of the Sumter Area Radio Control Car Club. I quickly got a quick education on the club, their website and what was happening this weekend. First, most of these are car drivers are amateurs and do things like keep our electricity flowing during the week or manage retail stores. There are some professional racers, but most of the attendees were amateurs looking for family enjoyment.

This weekend, the race was for the South Carolina State Championship. Normally the races cover a three day weekend. Friday is open practice for all the racers. Saturday is for qualifying heats for qualifying points. Sunday normally consists of the main events. The final class races are run for 30 minutes. Most cars hold about 6 minutes worth of fuel, so there are even pit stops during these races. The races are scored by the number of laps completed and then by the best time. Unlike many races, the cars crash and spotters turn them back on their wheels in the right direction and they are off racing again. You get to see some good action with cars flipping through the air and crash landing.

Sunday had five class races. The classes were buggy, truggys, 1/10^th scale gas trucks, sports man and pro class.

The goal for the weekend for most participants is to have fun. Some racers take it very serious and attend the event with their trailers full of spare parts and equipment for preparing their cars. But then again you might just see a car with the trunk open and the parts and equipment lying in there.

To start out with a basic two wheel drive remote control car would cost under $500. To move up to a gas truck costs a little over $500. There are racers there from 5-years-old on up. It truly is for all ages.

The next big race for the Sumter Area R/C Car Club is May 16-18^th. This race is part of the RC Races Series and will be one of the largest races in the South East. In prior years this even has attracted 100-200 races. It should be a fun weekend for everyone. I strongly recommend that everyone mark the days on their calendars. The races are really fun to watch!

2008 is starting out in a traditional fashion for Sumter County Real Estate. Traditionally we have seen a ramp up in our sales in January through the summer and then a slower sales rate in November and December. There are many reasons for this. My experience has shown that in the first quarter, I am working for many first time home buyers looking to use their income tax returns to purchase a home. This is a great investment of that money and it provides many families the ability to purchase a home that otherwise might not be able to gather the funds to purchase. Sumter also begins to experience many families PCS'ing into Shaw. Many families also choose this time to move as school will be ending soon. No matter what the reason, most Realtors® refer to the coming months as selling season. Below are the newest statistics for the Sumter, SC real estate market.

The number of units sold in February 2008 was 100 in Sumter County. During the same month in 2007, 131 units were sold and 133 units were sold in 2006. February 2005 had numbers very similar to 2008 with 103 units sold. The data follows:

Days on market increased to 161 Year to Date over the Year End average of 142 for 2007.

The median home price increased to $127,000 in February vs. $120,000 for January. The average home price also rose from $120, 691 in January to $126,123 in February.

The number of new listings in February also increased to 206. January 2008 had 192 new listings. These numbers are still on par with the listings for Sumter County during 2007. Below is a break down by month of the number of homes listed.

You can see in the chart above that the number of homes listed in 2008 continues to be at levels higher or equal to 2007, 2006, 2005 and 2004. 2008 is running about even with 2007 levels so the next few months will be able to show us if we are going to see a decrease in the number of listings in 2008. Below is a chart showing the year to date number of homes listed:

Currently, there are 161 properties under contract or pending in the Sumter County area. This is a good indicator that March will also be a positive month for the number of units closed.

Yes, we are still in a buyers market, but Sumter statistics are remaining steady as are our housing prices. Foreclosure levels are not rapidly rising as in other areas of the country. We remain in a buyers' market, but homes are selling and for reasonably close to the list price.

(c) 2008 Kim Peasley-Parker, All Rights Reserved

Crowndale has seen a significant drop in the number of homes available for sale during the month of February. Several homes were put under contract and at least one other home was taken off the market to become a rental. Below is a list of homes available for sale as of March 4, 2008.

If you have any questions or would like more information on either of these homes, please contact me.

Kim Peasley-Parker, The AgentOwned Realty, Co.

Cell Phone 803-840-7519, Email Kpeasley@ftc-i.net

Web Page: www.SumterHomePros.com

Ok, I have been bad about posting lately. I will admit it the past two months, I have not posted as regularly as I would like, but for good reasons. I have been working with buyers! I had a try spell the end of last year and many agents that I know experienced the same thing. Things changed after the first of the year though.

I have all ready closed one buyer transaction in February and I have two more on track for next week (all working with buyers). I also have a definate for the middle of March and a good possible for the end of March.

I began to wonder is it me or is it the market. Sumter's numbers for January were not that spectacular. So today, I decided I wanted to know, is it my turn or is it something else. As of February 20th, there are 161 homes listed as pending or under contract in our MLS. Just nine days ago this number was 151. Next I looked at the number of homes sold so far in February, 51 properties have been sold in Sumter County so far this month! So not only has the number of pendings and under contracts increased, we have sold an additional 51 properties!

Looking at these numbers, I have to say it isn't just myself who is busy, it is a lot of agents who are busy working with buyers and sellers. But then...

Why is this happening? First there are a lot of fence sitters who have decided real estate is not as bad as the national media makes it out to be. Interest rates are very favorable at below 6% so it is a good time to purchase. There is a large inventory of homes available and buyers have many choices. I have also found that buyers are enjoying the buyer's market and are not feeling rushed into making a snap decision about their purchase.

So if you are ready to purchase, now is the time to move forward. Prices on homes in Sumter are remaining steady and if you have decent credit, we can find you a home to meet your needs. If you have any questions, please give me a call, I would be glad to talk with you about specifics in our market.

Kim Peasley-Parker,

The AgentOwned Realty Co, Preferred Group

Cell 803-840-7519

Reports from many Realtors® and loan officers in Sumter are indicating that activity is picking up. Personally, I have watched more and more buyers driving through my neighborhood picking up fliers and looking at houses. For buyers, it is a great time to be looking for a home. The inventory of homes remains high, while the 30 Year Fixed rate mortgage is low.

The January 2008 number of units sold was 69. Comparing this with prior January units closed, 2008 fell between 2004 and 2005 numbers. The number is down considerably from January 2006 and January 2007, but consistent with the year end results for 2007.

With the numbers of homes closing in January being lower than in December 2007 and the level of activity higher, I wondered if what we were seeing was just activity or actually plans to purchase. As of February 8, 2008, there are 151 homes listed under contract in Sumter. This translates into seeing a large jump in closings in February. I will be adding homes under contract to help follow the Sumter market better in future months.

In our journey of watching the Sumter market, we have been looking at the number of new listings per month. In January 192 new listings were added to the MLS. This indicated a slight increase of three properties from December. As a Realtor®, I would expect to see the number of new listings increase over the next few months as we get into "selling season". Looking back over the past several years, the increase in new listings between December 2007 and January 2008 is not nearly has high in prior years. It might take a few months to see a trend, but it might be that the number of new listings has leveled off in our market.

Sumter is still in a buyers' market, but home values are still steady. Sumter county homes are selling for 97% of list price. As a Realtor®, if these trends hold over the next few months, I expect to see our market improve and the balance between buying and selling markets become more balanced.

I have not included charts in this blog as the charts were difficult to read with only the January data for 2008 on them. The charts should return next month.

©2008 Kim Peasley-Parker, All Rights Reserved