Home Sales Data for Sumter, SC September 1-15, 2009

Home Sales Data, September 1-15, 2009 Sumter, SC

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

For the period September 1-15, 2009, there were 77 new listings posted to the Multiple Listing Service (MLS). Lowest list price was $24,900 for a 24-year-old 1,067 square foot ranch-style bank-owned property. Highest list price was $475,000 for a 119-year-old colonial home on 20 acres with a stable and dressage ring, among other amenities. Two of the new listings were duplexes/condos/townhouses, twelve were new construction. Three of the new listings are already under contract, one of those a new construction (pre-sold). One listing was withdrawn from the sales market when it was rented out. Six new listings are already pending and one has closed (a for-sale-by-owner that was an out of town sale).

Thirty-eight properties sold (closed) from September 1 - 15, 2009. Lowest list price was $33,900 for a bank-owned five-year-old mobile home with no air conditioning or appliances, which listed originally for $36,900 and sold for $30,000 after being on the market for 63 days. Highest list price was for a new 1 1/2 story executive home with lots of bells and whistles located in an upscale subdivision; it originally listed for $465,000, went through one price reduction to $399,900 and sold for $365,000 after being on the market for 376 days. Ten of the sales were new construction. Four of them were listed as REO (bank-owned) and two were short sales.

Of the 38 properties sold, ten were listed for at or below $100,000. Average days on market was 185 and median days on market was 93.5 (ranged from 31 to 557). Average list-to-sales percentage was 97.1% and median list-to-sales was 96.31% (ranged from 79.75% to 129.1%).

Twenty-three of the sold properties were listed above $100,000 and below $200,000. Average days on market was 179, and median days on market was 125 (ranged from 25 to 756). Average list-to-sales percentage was 98.08% and median list-to-sales was 99.45% (ranged from 83.71% to 103.71%).

Three of the 38 properties sold were listed above $200,000 and below $300,000. Average days on market was 115 and median days on market was 116 (ranged from 35 to 195). Average list-to-sales percentage was 96.49% and median list-to-sales was 95.66% (ranged from 89.36% to 104.46%).

The remaining two listings were listed for above $300,000 and below $400,000. Average days on market was 363 and median days on market was 362.5 (ranged from 349 to 376). Average list-to-sales percentage was 93% and median list-to-sales was also 93% (ranged from 91.27% to 94.74%).

In contrast, for the same period a year ago (September 1-15, 2008), 62 properties were newly listed. Lowest list price was $20,000 for a then 54-year-old bank-owned bungalow which underwent one price reduction to $13,000 before selling for $11,750 after being on the market for 68 days. Highest list price was $374,900 for a then seven-year-old custom-built home in a gated subdivision which was withdrawn from the market after 288 days on the market with one agency and then re-listed with another agency where it remains active after being with them for 88 days at the same price it didn't sell at before. Make 'em an offer, they might take less. Eleven of these listings have expired, fourteen were withdrawn, one was rented, one is pending and three remain active. One was a condo, eight of them were new construction and ten were listed as REO (bank-owned) properties.

Between September 1-15, 2008 39 properties sold (closed). Lowest list price was $19,900 for a then 68-year-old bank-owned 1,106 square-foot bungalow which sold for $16,000 after being on the market for 32 days. Highest list price was $299,500 for a then 27-year-old 3,000 square-foot home which sold for $289,000 after being on the market for 71 days. Five of the 39 properties sold were new, one was a duplex. Eight were listed as REO, none were listed as short sales.

Of the 39 properties sold, 15 were listed at or below $100,000. Average days on market was 146, median days on market was 116 (ranged from 32 to 410). Average list-to-sales price percentage was 93.94% and median list-to-sales was 97.1% (ranged from 74.3% to 101.69%).

Twenty of 39 sold properties were listed above $100,000 and below $200,000. Average days on market was 154 and median days on market was 118.5 (ranged from 38 to 593). Average list-to-sales price percentage was 99.17% and median list-to-sales was 98.7% (ranged from 92.05% to 112.87%).

The remaining four listings were listed for above $200,000 and below $300,000. Average days on market was 142 and median days on market was 54.5 (ranged from 3 to 456). Average list-to-sales-price percentage was 97.92% and median list-to-sales was 97.59% (ranged from 96.49% to 100%).

The weather is cooling a bit here in South Carolina, and we’re all grateful. In a couple months I’ll be whining because I’m too cold.

(Based on information from the Sumter Board of Realtors®/MLS, September 23, 2009)