About Sumter County, SC

Home Sales Data, October 16-31, 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 October 16-31, 2009, there were 75 new listings on the market. Lowest list price was $10,000 for a 56-year-old 720-square-foot house with no heating or air system, in need of electrical work. Highest list price was $285,900 for a 3-year-old 3001-square-foot home in a golf-course community. Nine of the new listings are new construction, and one is a duplex (although it's in the MLS as a condo/townhouse, it's not; it's a duplex). Three of the new listings are REO (bank-owned) and two are listed as short sales.

Fifty-one properties sold (closed) from October 16-31, 2009. Lowest list price was $24,900 for a five-year-old bank-owned home that originally listed for $63,500, underwent three price reductions before finally selling for $22,000 after being on the market for 120 days. Highest list price was $327,000 for a new construction home in a new subdivision which originally listed for $332,000 and underwent one price reduction before selling for $297,000 after being on the market for 279 days. Seven of the sales were new construction, one was a duplex and six were condos/townhouses. Eleven of them were listed as REO (bank-owned) and none were listed as short sales.

Of the 51 properties sold, 25 were listed for at or below $100,000. Average days on market was 144 and median days on market was 120 (ranged from 30 to 266). Average list-to-sales percentage was 92.21%
and median list-to-sales was 94.44% (ranged from 25.04% to 113.71%).

Twenty-two of the sold properties were listed above $100,000 and below $200,000. Average days on market was 108, and median days on market was 76 (ranged from 28 to 355). Average list-to-sales percentage was 98.95% and median list-to-sales was 99.09% (ranged from 96.06% to 105.54%).

Three listings which sold were listed above $200,000 and below $300,000. Average days on market was 239 and median days on market was 266 (ranged from 135 to 316). Average list-to-sales percentage was 97.05% and median list-to-sales was 96.63% (ranged from 94.51% to 100%).

The remaining listing was mentioned earlier. It listed originally for $332,000, underwent one price reduction to $327,000 and sold for $297,000 after being on the market for 279 days.

In contrast, for the same period a year ago (October 16-31, 2008), 83 properties were newly listed. Lowest list price was $10,000 for a then 59-year-old bank-owned bungalow which sold for $10,000 cash after being on the market for 29 days. Highest list price was $698,000 for a new construction in an upscale community; it underwent one price reduction for $640,000, which is where it's listed now. It's been on the market for 372 days, make 'em an offer, they might take less. Twenty of these listings have expired (seven of them were condos/townhouses listed under one MLS number and which I counted as seven, not one), 22 were withdrawn, two are pending, one was rented rather than sold and 8 remain active. Seven of the new listings were condos, all listed under the same MLS number (see "expired" above), and three were duplexes. Six of them were new construction, and 15 were listed as REO (bank-owned)properties. None were listed as short sales.

Between October 16-31, 2008 54 properties sold (closed). Lowest list price was $26,900 for a then 16-year-old mobile home which underwent three price reductions to end up at $9,500 before selling for $2,000 cash after being on the market for 277 days. Highest list price was $575,000 for a then 12-year-old bank-owned executive home that underwent two price reduction before selling for $517,500 after being on the market for 321 days. Twelve were new construction; there was one duplex. Twelve were listed as REO (bank-owned), none were listed as short sales.

Of the 54 properties sold, 20 were listed at or below $100,000. Average days on market was 158, median days on market was 135 (ranged from 30 to 803). Average list-to-sales price percentage was 85.91% and
median list-to-sales was 92.93% (ranged from 21.05% to 102.86%).

Twenty-seven of the 54 sold properties were listed above $100,000 and below $200,000. Average days on market was 172 and median days on market was 148 (ranged from 8 to 533). Average list-to-sales price percentage was 97.98% and median list-to-sales was 98.85% (ranged from 84.95% to 107.15%).

Six listings were listed for above $200,000 and below $300,000. Average days on market was 170 and median days on market was 151 (ranged from 68 to 292). Average list-to-sales-price percentage was 97.99% and median list-to-sales was 97.99% (ranged from 94.76% to 102.02%).

The remaining listing was listed for above $500,000 and below $600,000 and was the highest list price mentioned above. It listed for $575,000 originally, underwent two price reductions and sold after being on the market for 321 days for $517,000 (94.26% of the list price).

At the moment there are 735 residential properties on the market in Sumter County. There were 121 homes that sold (closed) in the past 30 days. That means, unless something changes, we have about 6.07 months of inventory on the market.

Not a bad place to be. Here's hoping it doesn't get worse when the next wave of foreclosures hits.


(Based on information from the Sumter Board of Realtors®/MLS, November
4, 2009)

Home Sales Data, October 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.

Eight-two properties were newly listed between October 1-15, 2009. Lowest list price was $25,500 for a 26-year-old mobile home on an acre; the appliances do not convey. Highest list price was $537,000 for a 25-year-old two-story home in an established subdivision of executive-type houses; it has a bit over 5,000 square feet, a vacuum system, a glassed-in porch, an in-ground pool and a lot of other spiffy amenities. Two of the new listings are condos/townhouses and three are duplexes (one of which went under contract after being on the market for 10 days). Twelve of the new listings are new construction (three of them have closed already, most likely pre-solds). Three of the new listings have already gone pending and three are under contract. One new listing was withdrawn after being on the market for four days, no idea why; it's not for rent in the MLS but it was listed as a short sale. One new listing was listed with a different agency last year for $319,000; the price was reduced to $315,000 and then the home was withdrawn from the market after being on the market for 328 days. Nine months later it was then listed with a different agency for $250,000 and then temporarily withdrawn from the market after only two days, no idea why. Five of the new listings are REO (bank-owned) and one was a short sale (the one mentioned above).

Fifty-nine properties sold (closed) between October 1-15, 2009. Lowest list price was $14,000 for a 16-year-old privately-owned mobile home that sold for $11,000 cash after being on the market for 64 days. Highest list price was $495,000 for a 36-year-old 1.5 story brick home that sold for $400,000 after being on the market for 80 days. Thirteen were new construction, four were REO (bank-owned) and one was a short sale.

Fifteen of the 59 homes sold were listed at or below $100,000. Average days on the market was 159, median days on the market was 153 (ranged from 22 to 322). Average list-to-sales price percentage was 95.15%, median was 96.92% (ranged from 78.57% to 103.71%).

Forty of the 59 properties sold were listed above $100,000 and below $200,000. Average days on the market was 124, median days on the market was 100 (ranged from 2 to 372). Average list-to-sales price percentage was 98.11%, median was 98.12% (ranged from 88.36% to 104.83%).

Three of the homes sold were listed above $200,000 and below $300,000. Average days on the market was 78, median days on the market was 52 (ranged from 7 to 176). Average list-to-sales price percentage was 98.29%, median was 100% (ranged from 90.04% to 104.84%).

The remaining home was the one mentioned above; it listed for $495,000 and sold for $400,000 (80.81%) after being on the market for 80 days.

In contrast, for the same period a year ago (October 1-15, 2008), 76 properties were newly listed. Lowest list price was $13,500 for a then 56-year-old bank-owned A-frame which sold for $13,500 cash after being on the market for 46 days. Highest list price was $439,000 for a then 9-year-old steel-framed brick home on a bit over one acre which underwent one price reduction to $399,995 and then was withdrawn after being on the market for 276 days. It first went on the market (for $439,000) a little over two years ago, was withdrawn a year ago and then the listing was deleted. It remains on the market now under a different MLS number (but the same listing agent) for $399,000. Ten of the new listings were new construction and two were duplexes. In the interim 22 have been withdrawn, 9 expired, one was deleted and one is pending. Ten are still active. Six were listed as REO (bank-owned) and there were none listed as short sales.

Thirty-five properties sold (closed) between October 1-15, 2008. Lowest list price was $14,900 for a then 62-year-old bank-owned A-frame that sold for $7,500 cash after being on the market for 74 days. Highest list price was $425,000 for a then 13-year-old cedar home on 50 acres that sold for $370,000 after being on the market for 69 days. Eleven of the homes sold were new construction. Four were listed as REO (bank-owned); there were none listed as short sales.

Eleven of the homes sold were listed at or below $100,000. Average days on the market was 144, median days on the market was 80 (ranged from 23 to 483). Average list-to-sales-price percentage was 89.23%, median was 92.31% (ranged from 50.34% to 100%).

Sixteen of the homes sold were listed above $100,000 and below $200,000. Average days on the market was 157, median days on the market was 90.5 (ranged from 24 to 530). Average list-to-sales-price percentage was 98.08%, median was 100% (ranged from 87.5% to 102.16%).

Four of the homes sold were listed above $200,000 and below $300,000. Average days on the market was 194, median days on the market was 169 (ranged from 43 to 395). Average list-to-sales-price percentage was 86.82%, median was 98.64% (ranged from 50% to 100%).

Three of the homes sold were listed above $300,000 and below $400,000. Average days on the market was 163, median days on the market was 145 (ranged from 127 to 217). Average list-to-sales-price percentage was 93.62%, median was 93.53% (ranged from 92.02% to 95.31%).

The remaining home sold was mentioned above. It was listed for $425,000 and sold for $370,000 (87.06%) after being on the market for 69 days.

As of today, October 23, 2009, we have 9.44 months of inventory on the market. Not as bad as the last report, but not as low as we'd like to see it.

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