Home Sales in Sumter, SC August 16-31, 2009

Home Sales Data, August 16-31, 2009 Sumter, SC


This information was for residences; I did not include land or commercial properties. I looked only at Sumter and the surrounding area.

For the period August 16-31, 2009 there were 88 new listings posted. Lowest list price is $27,000 for a 64-year-old 900-square-foot privately owned bungalow with the possibility of owner financing. Highest list price is $408,000 for a 103-year-old home that was listed as on the market, pending and closed all on the same day. The sale price was $400,000.

Twenty one of the 88 new listings were listed at or below $100,000, 50 were listed for above $100,000 and below $200,000, 7 were listed for above $200,000 and below $300,000, 9 were listed for above $300,000 and below $400,000, and one was listed for above $400,000 and below $500,000. Nine of the new listings are new construction (a few of which have been on the market for upwards of a year). Seven of the new listings have already gone pending: one on the same day it was listed (a quick sale), one after one day on the market, one after 3 days, one after 8 days, two after 9 days on the market (one of them being an REO, or real-estate owned, e.g. bank-owned), and one after 17 days on the market. One new listing was withdrawn after being on the market 3 days and another was withdrawn after being on the market for 12 days; I have no idea why. One new listing went under contract after being on the market 12 days. Four of the new listings are duplexes.

Forty-eight properties sold (closed) during August 13-31, 2009. One was a condo/townhouse, one was a duplex, 13 were new construction, and three were REO properties.

Eleven of the properties sold were listed at or below $100,000. Average days on market was 124 (ranged from 9 to 317). Average list-to-sales price percentage was 88.44% (ranged from 57.84% to 101.88%).

Twenty-eight of the properties sold were listed above $100,000 and below $200,000. Average days on market was 151 (ranged from 23 to 392). Average list-to-sales price percentage was 97.68% (ranged from 82.28% to 107%).

Eight properties sold were listed above $200,000 and below $300,000. Average days on market was 164 (ranged from 53 to 431). Average list-to-sales price percentage was 96.01% (ranged from 83.61% to 101.41%).

The remaining listing was a pre-sold listed for $408,000 and sold for $400,000.

In contrast, for the same period a year ago (August 16-31, 2008), 65 properties were new listings. Lowest list price was a then 18-year-old bank-owned 1,081 square foot ranch-style house that originally listed for $46,000 and went through three price reductions before selling for $19,000 after being on the market for 157 days. Highest list price was $409,900 for a then two-year-old custom-built home in an upscale subdivision which was withdrawn after being on the market for 189 days. It has not gone back on the market since. Ten of the new listings have expired, 16 have been withdrawn, 10 are still active, one was deleted, and one has been rented rather than sold. Twelve of the new listings were new construction, and one was a duplex. Two were listed as bank-owned properties (REO) and one was listed as a short sale.

During August 16-31, 2008 50 properties sold (closed). Lowest list price was $25,000 for an at the time 25-year-old mobile home which sold for $22,500 cash after being on the market for 31 days. Highest list price was $589,900 for an at the time 3-year-old upscale home in a gated community that sold for $580,000 after being on the market for 239 days. One property was a condo, one was a duplex and ten were new construction.

Ten of the properties sold during that period were listed at or below $100,000. Average days on market was 89 (ranged from 28 to 163). Average list-to-sales price percentage was 93.03% (ranged from 67.57% to 100.91%).

Twenty-nine were listed above $100,000 and below $200,000. Average days on market was 159 (ranged from -5 -- a pre-sold, perhaps, but the entry date was wrong -- to 465). Average list-to-sales price was 98.35% (ranged from 91.48% to 103.09%).

Ten properties were listed above $200,000 and below $300,000. Average days on market was 176 (ranged from 38 to 638). Average list-to-sales price was 99.11% (ranged from 93.75% to 105.15%).

The remaining home was listed above $500,000 and below $600,000. It was the highest priced listing mentioned above. Listed for $589,900 it sold for $580,000 after being on the market for 239 days.

That's all for now. Almost time to do the next one.

(Based on information from the Sumter Board of Realtors®/MLS, September 12, 2009)