REALTORS® hit record-high closed sales in 2017
January 29, 2018
South Carolina REALTORS® (SCR) released its 2017 annual market report. The reports show 2017 as a record-setting year for closed sales by Realtors®. At 83,570, this is the highest number of closed sales ever recorded.
Prices also were up compared to last year at this time, with a median sales price increase of 5 percent to $189,250. Sellers got the price they asked for, as the original list price received at sale rose to 97 percent since last year. These numbers also reflect the nation as a whole, with the National Association of REALTORS® recently reporting 2017 as the best year for existing home sales in eleven years. With prices on the rise, 2018 could also become a strong seller’s market.
Although year-over-year inventory levels continue to decline, builder confidence has improved and construction job gains are higher giving prospective homebuyers more options.
Days on market, months supply of inventory and housing affordability also were down in year-over-year comparisons. Days on market decreased five percent to 28,774 units, while months supply of inventory was down almost 11 percent to four months.
“2017 turned out to be the best year in a long time for real estate sales. And when we look at the economic indicators as a whole, we’re optimistic that 2018 will be another strong year for South Carolina’s real estate market,” said SCR CEO Nick Kremydas.
South Carolina REALTORS®
South Carolina REALTORS® (SCR), the largest professional trade association in the state, serves as the voice of real estate for more than 21,000 members involved in all aspects of the residential and commercial real estate industries. REALTOR® is a registered trademark that identifies a professional in real estate who subscribes to a strict code of ethics as a member of SCR and the National Association of REALTORS®.
