For all of April (1-30), as I was unable to do a market report mid-month:
For the period 1-30 April, there were 151 new listings posted. These were all residences; I did not include land or commercial properties. I looked only at Sumter and the surrounding area.
The lowest list price was $13,900 for an as-is where-is bungalow that sold for $14,500 after 19 days on the market. Highest was $749,500 for a thirty-seven-year-old home with four bedrooms, four and a half baths, 4,281 square feet on a bit over 1.8 acres and includes part ownership in an 8-acre pond. Of the new listings, two are condos/townhouses and three are duplexes.
Thirty-three are new construction, of which two went pending or closed the same day they were listed (pre-solds), and one went pending after being on the market for one day. Also, of the 33 new construction listings that went on the market during April, ten of them are short sales or in foreclosure, with 6 of them being in one subdivision and the remaining 4 in another.
Seventy-two properties sold (closed). The lowest list price was $8,900 for an as-is/where-is sixteen-year-old mobile home which sold for $8,500. It was on the market for 34 days. The highest list price was $385,000 for a five-year-old home on 12 acres, which sold for $353,500 after being on the market for 226 days.
Twenty-six of the 72 properties sold were listed at or below $100,000. Average days on market was 128 (ranged from 19 to 393). Average ratio of list-to-sales price was 92.71% (ranged from 66.89% to 104.32%).
Thirty-four of the 72 properties sold were listed above $100,001 and below $200,000. Average days on the market was 207 (ranged from 17 to 714). Average ratio of list-to-sales price was 99.17% (ranged from 87.78% to 106.67%).
Eight of the 72 properties sold were listed for above $200,001 and below $300,000. Average days on the market was 154 (ranged from 1 to 384). Average ratio of list-to-sales price was 94.75% (ranged from 86.67% to 100.00%).
The remaining four listings sold were listed for above $300,001 and below $400,000. Average days on the market was 140 (ranged from 49 to 226). Average ratio of list-to-sales price was 95.46% (ranged from 91.55% to 100.00%).
In contrast, for the same period a year ago there were 173 new listings posted. The lowest list price was $13,000 for an as-is/where-is mobile home which had been vandalized, the wiring, HVAC and well pump stolen, and sheetrock destroyed. It sold for $13,100 after being on the market for 46 days. The highest list price was $835,000 for a 4,667 square foot four-bedroom three-bath and two half-bath two-story eleven-year-old home in a nice subdivision; it's been on the market 396 days as of today and they've lowered the price to $799,000. Of these 173 new listings, 25 were new construction. There were no duplexes or condos newly listed during that period. Of the new listings, 26 expired, 38 were withdrawn, two were deleted, 13 are still active, one was rented and still available (tenants' rights apply, although the listing says it's vacant, which is interesting), and one went pending the same day it was listed and remains pending over a year later. I guess it's taking awhile to get it built.
Ninety properties sold (closed) between April 1-30, 2008.
Thirty-six of the 90 sold properties were listed at or below $100,000. Average days on market was 105 (ranged from 4 to 455). Average list-to-sales ratio was 92.84% (ranged from 50% to 111.36%).
Forty-five of the 90 properties sold were listed between $100,001 and $200,000. Average days on market was 165 (ranged from 1 to 726). Average list-to-sales ratio was 98.2% (ranged from 85.51% to 103.27%).
Seven of the 90 properties sold were listed between $200,001 and $300,000. Average days on market was 107 (ranged from 1 to 263). Average list-to-sales ratio was 98.13% (ranged from 95.94% to 100.00%).
One listing was priced at above $300,001 and below $400,000 (specifically, $279,000) It sold for $350,000 after being on the market for 233 days.
The remaining listing was priced at $419,000 and sold for $412,000 after being on the market for 293 days.
I wish I had some words of wisdom for you, but I'm still a bit wonky. People who know me would say this is not much of a change. I'm not really in a position to argue.
(Based on information from the Sumter Board of Realtors®/MLS, April 2009)
