Home sales continue to improve in Columbia, SC

From staff reportsSeptember 16, 2013 

— Home sales continued to rebound in August in Columbia and throughout most of South Carolina.

Sales spiked 19 percent in the Columbia area to 947 sales last month from 793 the previous August. Statewide, sales climbed nearly 15 percent to 6,093, compared to 5,314 in August 2012, according to a report Monday from the S.C. Realtors trade group.

The median price for homes sold last month rose 6.5 percent statewide to $164,950, with a big spike in the Hilton Head Island area. In Columbia, median price dipped 1 percent to $143,000, according to the report.

Pending sales also rose last month, putting the state and the Columbia area on pace to finish the year strong. Those sales – in which a contract has been signed, but the deal has not been completed – should close in the coming months.

In Columbia, pending sales rose 16 percent from last August to 858. Statewide, pending sales increased 7 percent to 5,404.

Inventory also is down statewide and in the Columbia area to 9 months worth of homes on the market. A balanced market usually has about six months worth of inventory for sale. In August 2011, the market was saturated with more than 15 months worth of inventory in Columbia and more than 14 months statewide.

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