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

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


Christmas looms. I'm not ready. I never am. It comes anyway. Onward to sales, and such.

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 December 1-15, 2009, there were 87 new listings placed on the market. Lowest list price was $20,300 for a 57-year-old 1,357-square-foot bank owned brick home on one acre. Highest list price was $399,900 for a 3,713-square-foot 7-year-old colonial on a little over an acre, which has an unfinished basement (a rarity in these parts; the water table is pretty high in some places). Twenty-two of the new listings are new construction (one a pre-sold and 13 are bank-owned), two are condos/townhouses, and three are duplexes. Twenty-four of the new listings are REO (bank-owned) including the 13 new construction listed above, and two were listed as short sales. Two new listings are pending after being on the market one to two days, one was a FSBO (For Sale By Owner) quick-sale, and five were HUD homes which have all closed after being on the market from 1 to 45 days.

Forty properties sold (closed) from December 1-15, 2009 (including the HUD quick-sales, the FSBO quick-sale, and the pre-sold new construction listed above). Lowest list price was $11,500 for a 60-year-old bank-owned bungalow that sold for $10,000 cash after being on the market for 78 days. Highest list price was $253,000 for a five-year-old 2,361-square-foot ranch which originally listed for $263,900 and underwent one price reduction before selling for $250,000 after being on the market for 226 days. Eight of the sales were new construction and one was a condo/townhouse. Ten of them were listed as REO (bank-owned) and none were listed as short sales.

Of the 40 properties sold, 15 were listed for at or below $100,000. Average days on market was 66 and median days on market was 45 (ranged from 1 to 280). Average list-to-sales percentage was 94.06% and median list-to-sales was 96.84% (ranged from 76.69% to 110.01%).

Twenty-one of the 40 sold properties were listed above $100,000 and below $200,000. Average days on market was 196, and median days on market was 116 (ranged from 7 to 851). Average list-to-sales percentage was 98.2% and median list-to-sales was 98.6% (ranged from 85.84% to 102.24%).

The remaining four listings which sold were listed above $200,000 and below $300,000. Average days on market was 166 and median days on market was 177.5 (ranged from 81 to 226). Average list-to-sales percentage was 98.25% and median list-to-sales was 98.78% (ranged from 96.23% to 99.22%).

In contrast, for the same period a year ago (December 1-15, 2008), 54 properties were newly listed. Lowest list price was $9,999 for a then 70-year-old privately-owned bungalow which originally listed for $15,000, underwent two price reductions and sold for $8,000 cash after being on the market for 129 days. Highest list price was $469,900 for a then 3-year-old executive home in an upscale subdivision which was withdrawn after being on the market for 5 days and which has not reappeared on the MLS anywhere. Eight of these listings have expired, 12 were withdrawn, two were deleted, and 5 remain active. Five of them were new construction, 4 were listed as REO (bank-owned) properties and three were listed as short sales.

Between December 1-15, 2008 29 properties sold (closed). Note that this means in 2009 for the same two-week period, we had an increase of roughly 38% in sales over last year; I don't know if it's a trend but at least it's good news. Lowest list price was $13,900 for a then 6-year-old bank-owned mobile home which was originally listed for $19,900 and underwent one price reduction before it sold for $11,000 cash after being on the market for 85 days. Highest list price was $373,000 for a then 37-year-old two-story 3,553-square-foot home which was originally listed for $449,900 and underwent three price reductions before selling for $330,000 after being on the market for 193 days. Two were new construction, there were no duplexes or condos. Ten were listed as REO (bank-owned), none were listed as short sales.

Of the 29 properties sold, 11 were listed at or below $100,000. Average days on market was 99, median days on market was 100 (ranged from 27 to 196). Average list-to-sales price percentage was 89.02% and median list-to-sales was 95.59% (ranged from 55.14% to 100.44%).

Fifteen of the 29 sold properties were listed above $100,000 and below $200,000. Average days on market was 138 and median days on market was 111 (ranged from 35 to 318). Average list-to-sales price percentage was 96.22% and median list-to-sales was 98.04% (ranged from 71.04% to 100%).

Two listings were listed for above $200,000 and below $300,000. Average days on market was 89 and median days on market was also 89 (ranged from 73 to 105). Average list-to-sales-price percentage was 97.75% and median list-to-sales was 97.63% (ranged from 97.63% to 97.87%).

The remaining listing was listed for above $300,000 and below $400,000 and was the highest priced listing mentioned above. It was on the market for $373,000 and sold for $330,000 (88.47% of list price) and was on the market for 193 days.

At the moment there are 842 residential properties on the market in Sumter County. There were 90 homes that sold (closed) in the past 30 days. That means, unless something changes, we have about 9.35 months of inventory on the market.

Here's hoping for a better year in 2010.




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