Sumter, SC

August 2009 Sumter, SC Market Report

09-22-09

Kim Peasley-Parker

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Office: (803) 840-7519

Mobile: (kpe) kpe-kpea

August 2009 Sumter, SC Market Report

Hope everyone had a good August and part of September. From my talks with many Realtors^®, we are seeing a very different market than what we have experienced in the past. Yes, you can say "Duh, Kim, we all know that." But I am not talking solely about the level of sales. I am talking about what is getting buyers' attention in properties. All the Realtors^® I have spoken with have found that homes they think will sell quickly do not. Homes they think might linger on the market go under contract. Buyers are being fickle (sorry buyers, I don't mean this as an insult, it is just a fact). As Realtors^® we once could tell a seller exactly what would sell a home price, location, preparation for the sale and several other items. These rules seem to have been thrown out in today's market. In asking all the Realtors^®, what they find are selling homes and the answer is the same. They don't seem to have a good answer as it changes from buyer to buyer. With that being said, here are the August Sumter, South Carolina Market Statistics.

Summary of the Market Thru August 31, 2009

Market Statistic	July 2009	August 2009	Trend
Median Price of Homes Sold	$137,250	$140,000	+
Average Price of Home Sold	$140,366	$151,923	+
Least Expensive Home Sold	$15,000	$30,000
Most Expensive Home Sold	$390,000	$400,000
Price/ Sq. Ft.	$75.69	$78.41	+
Average Days of Market (DOM)	191	165	-
Total Active Inventory	1337	1345	+
Median Home Size	1742	1789
Median Number of Bedrooms	3	3
Median Number of Bathrooms	2	2

The number of homes sold in Sumter during July 2009 was 106 and in August that number decreased to 83. While we did see the units closed or sold decrease, the units was only 4 units less than August 2008. The number of pending units is still strong so we expect to see more units closing over the next several months too.

The total number of homes sold in 2009 has lagged behind the year to date total for 2008. This is to be expected as the monthly numbers with some exceptions have fallen behind.

Year to Date Listing Sumter SC Real Estate Market

While days on the market decreased in August, this put the Days on Market back down to where it was before the spike we saw in July.

The number of new listings in Sumter increased in August 2009. July had shown Sumter the lowest number of new listings in since January 2009. Listings are cyclical and historically July and August have proven to been months where a large number of listings come onto the market.

The Year To Date listings in the Sumter market for 2009 is following very closely with the 2005 Year To Date listings as far as overall trends. If Sumter continues to follow this trend, I would expect to see the number of listings level off for the remainder of the year.

A combination of units sold during the month and the increase in homes listed resulted in a upward movement of the total number of homes available. This statistic is new to the report and it gives buyers and sellers a feeling for what is on the market. I am still watching it to determine what it is showing.

The median home price continues to increase over time in Sumter. The current price of $140,000 has only seen one month higher since January 2004. During the fall and winter of 2008-2009, we did see the median home price down, but in the past six months the median home prices have come back. Much of the fluctuation during these months was due to the mix of properties being sold.

The average price per sq. foot continued to climb in August as it had over the past seven months. In comparing the price per square foot, you notice it closely mirrors the median home price. This would lead me to believe that we saw many investors buying lower priced homes over the fall and winter and more owner occupied properties being sold during the spring and summer.

Remember all real estate markets are local. There is no National rules that every market in the United States follows when it comes to the ups and downs. Consumers are best served by an educated Realtors^® who understands the market and how to help them buy or sell a home.

I hope you find this real estate market report for Sumter County, SC interesting. If you have any suggestions, please email me at kim@agentowned.com and I will see what I can do.

Kim Peasley-Parker

Realtors^®/Shareholder

AgentOwned Realty,

Heritage Group, Inc.

Sumter, SC

Cell 803-840-7519

Serving all of Sumter County including Sumter, Dalzell, and Shaw Air Force Base area

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Real Estate Brokerage Sumter SC

09-08-09

Liz Loadholt Realtor--Broker-in-charge - Trainer--Relocation Director Covering SC

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Office: (843) 725-5007

Mobile: (843) 709-8488

Real estate brokerage in Sumter SC is an AgentOwned Realty office located in an old warehouse with concrete ceilings. This has made an absolutely beautiful real estate office.

Sumter SC AgentOwned Realty office

Kirk McLeod serves as COO of the Heritage Group of AgentOwned Realty as well as broker-in-charge of the Sumter real estate brokerage.

Kirk is very community minded --- he is very involved in the community recreation activities of the children --- he serves often as a coach. He is also very family oriented. Kirk has a lovely wife and 2 boys. Also, this real estate brokerage is quick to support many functions that support the community --- they are a big player in the Sumter Chamber of Commerce, also.

Kirk McLeod

Using his coaching abilities, Kirk has coached his agent-owners right to the top of the Sumter MLS. Yes, AgentOwned Realty is # 1 in the Sumter MLS -- and this real estate brokerage has only been officially open just a little over a year. How have the agent-owners achieved this?
1) by offering outstanding service to their clients
2) being able to offer the "true one stop shop" to their customers & clients &
3) giving back to the community.

Sumter is a military town and the group of agent-owners at this real estate brokerage is very knowledgeable of the customs and requirements of the Air Force so that they can give that 100+% to their military families. Training of the agent-owners is very important --- not just the real estate side, but also of the needs of the Air Force families.

The real estate brokerage in Sumter, SC each offers training, free marketing, no monthly charge for E&O as well as "sister" companies so that the agent-owner can offer their clients true one stop shopping (real estate, mortgage, insurance,and business brokerage).

You may want to check out the below posts:

http://activerain.com/blogsview/1224919/real-estate-brokerage-summerville-sc

http://activerain.com/blogsview/1223666/real-estate-brokerage-charleston-sc

http://activerain.com/blogsview/1223650/real-estate-brokerage-goose-creek-and-summerville-sc

http://activerain.com/blogsview/1223624/real-estate-brokerage-isle-of-palms-sc

http://activerain.com/blogsview/1228332/real-estate-brokerage-north-charleston-sc

Mama Liz's Signature

Liz Loadholt
Broker, SC Certified Trainer, Relocation Director
Co-founder of AgentOwned Realty
Liz@AgentOwned.com
843-725-5007

The AgentOwned Realty serves your real estate needs for:

Charleston, Johns Island, James Island, Mt. Pleasant,
Isle of Palms, Sullivan's Island, Daniel Island, North Charleston,
Summerville,Goose Creek, Moncks Corner, Santee, Manning, Sumter, Florence, & Myrtle Beach, all in South Carolina

If you are over 60 years of age, please sign up for our new group:

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July 2009 Sumter, SC Market Report

08-30-09

Kim Peasley-Parker

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Office: (803) 840-7519

Mobile: (kpe) kpe-kpea

As I stated back in June, my report is under transition. I have been working on it over the summer and what a summer this has proven to be. The number of units sold in Sumter County has increased and many Realtors^®, including myself, have been very busy. My report is still in transition and I am open to any suggestions you might have. You can email me at kim@agentowned.com. I am trying to provide you the consumer with information to make an informed decision about the real estate market in the Sumter, SC area.

Summary of the Market Thru July 31, 2009*

Market Statistic	July 2009	June 2009	Trend
Median Price of Homes Sold	$137,250	$128,900	+
Average Price of Home Sold	$140,366	$141,765	-
Least Expensive Home Sold	$15,000	$14,500
Most Expensive Home Sold	$390,000	$397,500
Price/ Sq. Ft.	$75.69	$73.70	+
Average Days of Market (DOM)	191	158	+
Total Active Inventory	1337	1386	-
Median Home Size	1742	1754
Median Number of Bedrooms	3	3
Median Number of Bathrooms	2	2

The information above starts to show the picture of the Sumter, SC market, but it isn't a complete picture. The number of homes sold in Sumter during June 2009 was 85 and in July that number increased to 106. This is the first time since June 2008 that the number of units sold in a month has been over 100! Many Realtors^®, are seeing the increase in buyer traffic. Also note on the chart that year to year, the number of units sold in July 2009 compared to July 2008 was actually higher. This is the first time we have seen this in a chart since 2006 numbers over 2005!

The total number of homes sold in 2009 has lagged behind the year to date total for 2008. As the numbers increase, we may see this gap narrowing.

While days on the market increased, it also meant homes that had been on the market for many months were receiving offers and being sold.

The number of new listings in Sumter decreased in July 2009. This is the lowest number of listings we have seen since January 2009. Listings are cyclical and historically July has been a month where more listings are seen on the market. The lower number may be the result of sellers marketing their homes sooner, but one month doesn't make a trend.

The Year To Date listings in the Sumter market appears to be leveling off more. If the trend continues, we should see fewer homes on the market over the next several months.

A combination of units sold during the month and the decrease in homes listed resulted in a downward movement of the total number of homes available. This is the first decrease we have seen since April 2009.

The median home price continues to increase over time in Sumter. The current price of $137,250 has only seen two months higher since January 2004. During the fall and winter of 2008-2009, we did see the median home price down, but in the past six months the median home prices have come back. Much of the fluctuation during these months was due to the mix of properties being sold.

The average price per sq. foot continued to climb in July as it had over the past six months. In comparing the price per square foot, you notice it closely mirrors the median home price. This would lead me to believe that we saw many investors buying lower priced homes over the fall and winter and more owner occupied properties being sold during the spring and summer.

Most areas in Sumter have been able to maintain their values during the National Housing Down Turn. This is just a reminder that all real estate is local. Every market is local and consumers must find an educated Realtors^® who understands the market to help them buy or sell a home.

Again, this market report is still evolving and I hope you are finding the information helpful. If you have any suggestions, please email me at kim@agentowned.com and I will see what I can do.

Kim Peasley-Parker

Realtors^®/Shareholder

AgentOwned Realty,

Heritage Group, Inc.

Sumter, SC

Cell 803-840-7519

Serving all of Sumter County including Sumter, Dalzell, and Shaw Air Force Base area

2 Comments

Sumter, South Carolina Real Estate Market Update May 2009

06-12-09

Kim Peasley-Parker

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Office: (803) 840-7519

Mobile: (kpe) kpe-kpea

Wow, another month has gone by in the real estate market. Overall, we hear news that the markets are improving throughout many parts of the county and that is great news for many people especially sellers. And yes, I do mean real estate markets. Every state, county, town and subdivision is different so each is a market!

Buyers, now is the time to make the commitment and get off the fence. Uhm, aren't you getting sore from sitting on it for so long anyway? There is only 5 1/2 months left in the $8000 first time home buyers tax credit programs. Yeah, five months might seem like a long time, but remember plan for at least 30 days minimum to get your home closed and that is after locating one. As for the interest rate fluctuations, they are still great!!!! They may not be as low as they were a couple of months ago, but they are still historically low!

My market report this month is in transition. Please bear with me as I have added some charts and information. I am still working on the formats and working out the details but I wanted to get this information into a post so come back next month and I will hopefully have more bugs worked out in the formats.

As part of the new information, I have added the Monthly Median Sale Price and also Monthly Average $/Square Foot. These charts proved to be interesting. If you look at the data, you can see a direct relationship between the median sale price and $/square foot in January. The median sale price and average $/square foot dipped in January. We saw smaller, less expensive homes being sold and driving down both numbers. As we watch these charts over the next couple of months, I think we will see they continue to follow the same movements.

Days on Market is very important for sellers in planning moves. The Days on Market has increased over the past couple of years and continues fluctuate month to month. I do not see the days on market decreasing anytime in the near future for Sumter. It will be a gradual change as the number of listings decrease and the number of buyers increases.

In May there were a total of 153 new listings up from 151 in April. The new listings contributed to an overall increase in the number of active listing of 1363 at the end of May. This information was just added and will be continued on a monthly basis.

Sumter SC Real Estate Listings per Month

Sumter SC Active Real Estate Listings per Month

The number of units sold in May was 69 down from 72 in April and equal to the 69 units sold in March. June and July are traditionally the strongest selling months in Sumter County so we should expect to see these numbers increase the next two months.

I have added new charts this month and eliminated some other charts, but I hope you find the additions helpful. I am still working on tweaking the new charts and information so please bear with me on the changes. Hope to see you next month!

Kim Peasley-Parker

Realtor^®/Shareholder

AgentOwned Realty Co.

Sumter, SC

Cell 803-840-7519

Serving all of Sumter County including Shaw Air Force Base

2 Comments

Sumter, SC Real Estate Market Update April 2009

05-12-09

Kim Peasley-Parker

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Office: (803) 840-7519

Mobile: (kpe) kpe-kpea

Sumter, SC Real Estate Market Update April 2009

First let me apologize about being so bad about doing market reports this year. About the time I should have been doing February’s report, I had another project going on. The project was 7 lbs 2 oz and 19 ½” long and totally adorable. J Madeline Marie was born on February 2^nd, healthy and happy and that is all that mattered to her mom and dad. Mom went back to work February 12^th and hasn’t slowed down since. I have listed several homes, done several competitive market analysises and also had several transactions close. So I am trying my best to get back on track ya’ll. Bear with me!

The Sumter real estate market had a slow winter. Normally winters are slower, but our December, January and February were slower than normal. In December the number of pendings dipped to 94 and that showed in the number of units sold (closed) in January. I am posting a chart of the data below so you can see the numbers. After a slow winter, the numbers have shown an increase in March and April. The number of units sold and pending (under contract) has increased and this is good news. The number of phone calls for showings has also increased, but we are seeing a little slower activity in May. Showings do have a tendency to slow in May due to the end of the school year and many people being busy wrapping up the school year.

Month	Units Sold in Month	Pendings	New Listings
December 2008	57	94	107
January 2009	49	114	114
February 2009	57	127	163
March 2009	69	139	181
April 2009	72	152	151

The charts for Units Sold Per Month, Listings per Month and YTD Listings are included below. You can compare 2009 to prior years and see that we are off to a slow start. Will we catch up to prior years? It is hard to tell, but right now I would say no. But that doesn't mean it will be a horrible year. Sumter is still looking forward the the 3rd Army Headquarter relocation to Shaw Air Force Base and also the Shaw AFB PCS season has not yet gotten into full swing.

There are two questions after all this data. First, is it a good time to list my home for sale? My answer is if you need to sell, yes it is. As a seller, you need to make sure your home is ready to sell. The house needs to be spic and span and organized throughout and be ready to market. The competition is tough and you need to be ahead of them in order to get the buyer to make an offer. I wrote a series of blogs about houses selling in Sumter and what they have in common. (Are Houses Selling in Sumter?) Second, is it a good time to buy a home? YES!!!! No one has a crystal ball to say what the future holds, but it is an excellent time to purchase a home. We are seeing mortgage rates at record lows. No one has any idea how long they will stay there, so strike while the iron is hot. (This includes refinancing if you are remaining in the home.) Also if you are a first time home buyer, you can qualify for up to $8000 First Time Homebuyers Tax Credit. This credit doesn't have to be repaid like the 2008 tax credit, unless you sell the home in less than three years. If there is a chance you might sell the home before the three years, there are options to help you.

2009 promises to be another interesting year in Sumter, South Carolina as far as real estate. The best thing that both buyers and sellers can do is research, ask questions and deal with a professional who understands the market and keeps up to date on the trends.

If you would like any specific information about a segment of the market please feel free to contact me at 803-840-7519. I would be happy to talk with you about your real estate needs and concerns.

Kim Peasley-Parker, AgentOwned Realty, www.SumterHomePros.com

3 Comments