Sales Data for Sumter, SC May 1-15, 2009
This information was for residences only; I did not include land or commercial properties. I looked only at Sumter and the surrounding area.
From May 1st through the 15th, there were 86 new listings placed on the market. The lowest list price was $12,500 for a seventy-nine-year-old bungalow with no electric or water systems, a rusty metal roof, and the listing included a warning that the property is unsafe and it's not recommended to go inside, but if you do you're on your own. The highest list price was $499,450 for a two-year-old waterfront home with lots of upgrades and custom features.
Of the new listings, five are duplexes or condos/townhouses (one of which was a quick sale and was posted, sold and closed all on the same day, even though the "Days on Market" says 35). One duplex went under contract after being on the market for two days. Ten of the new listings are new construction; three of those went under contract the same day they were listed (pre-solds). One new listing that is not new construction was listed and pended on the same day - may have had a buyer lined up already. Another new listing, a home that was built the same year I was born (never mind how old I am!) went pending three days after it was listed - either priced right, or someone had their eye on it already. One new listing is in a subdivision that historically has no movement at all unless someone dies (sorry if that seems a bit blunt), so it's rare to see something for sale there. Two of the new listings I recognized as having been on the market before and being withdrawn when they didn't sell. One was on the market for 795 days before the owners threw in the towel. They've waited eight months and are trying again, having raised the price (in defiance of common sense) by $2,000. The other listing was on the market previously for almost a year, the owners rented it, and are now listing it for sale again for the same price they were asking before, when it didn't sell.
Thirty-six properties sold between May 1-15. Fourteen were listed for at or below $100,000. Average days on market was 82 (ranged from 27 to 221). Average list-to-sales price percentage was 97.01% (ranged from 72.37% to 118.35%).
Eighteen properties were listed for above $100,000 and below $200,000 (including a duplex that's been on the market for, no kidding, 1,198 days; I eliminated it from the quick stats as it skews things a bit). Average days on the market was 134 (ranged from 28 to 427). Average list-so-sales price percentage was 97.53% (ranged from 85.78% to 100.05%).
The remaining four listings were listed for above $200,000 and less than $300,000. Average days on the market were 99 (ranged from 56 to 181). Average list-to-sales price percentage was 99.9% (ranged from 95.71% to 105.78%).
In contrast, for the same period a year ago (May 1-15, 2008), there were 105 new listings placed on the market. Two of them were duplexes; one sold after being on the market for 23 days and the other is went pending a few days ago. The lowest list price was $15,900 for a bank-owned 74-year-old (at the time) bungalow that sold for $12,000 after being on the market for 188 days. The highest list price was $551,000 for a twenty-year old (at the time) waterfront home on a bit over 7 acres; that listing expired after 240 days and has not been put back on the market and according to the tax records the owners have filed bankruptcy. Yikes. Of those 105 listings three are still active, 30 have been withdrawn, nineteen expired, one was rented, and one, a new construction, was deleted and then re-entered five days later under the same agent, same company, for the same price. Don't ask me why; builders can be funny critters.
During May 1-15, 2008 43 properties sold (closed). That's only seven more than this year, so maybe we're seeing an upswing. We can hope. Of those sold, 16 were priced at or below $100,000. Average days on market was 186 (ranged from 28 to 846 - yow). Average list-to-sales price percentage was 91.61% (ranged from 53.85% to 105.6%).
Nineteen were listed from $100,001 to $200,000. Average days on market was 153 (ranged from 1 to 350). Average list-to-sales price percentage was 98.43% (ranged from 88.76% to 107.78%).
Seven were listed from $200,001 to $300,000. Average days on market was 174 (ranged from 25 to 336). Average list-to-sales price percentage was 96.92% (ranged from 88.38% to 101.32%).
One was listed above $300,000 and less than $400,000. It was listed at $367,000 and sold for $340,000 after being on the market for 62 days.
The remaining property that sold was listed for $425,000 and sold for that price after being on the market for 23 days.
Happy house hunting!
(Based on information from the Sumter Board of Realtors®/MLS, May 2009)
