Columbia, SC Real Estate Snapshot – February Edition (January Data)

Total Sales in 2011: 6,449
Total Sales in 2010: 7,209

Change: Down 10.5%
Total Sales in January 2012: 417

Total Sales in January 2011: 350
Change: Up 19.1% 

Foreclosure Sales in January 2012: 75
Foreclosure Sales in January 2011: 65
Change: Up 15.4%
January 2012 Foreclosure Sales as a Percentage of Total Sales: 18% 

New Construction Sales in January 2012: 104
New Construction Sales in January 2011: 86
Change: Up 20.9%
January 2012 New Construction as a Percentage of Total Sales: 24.9% 

Current Inventory on the Market: 7,685
Current Absorption Rate: 500 units per month (based on 6 months sales)
Months of Inventory: 15.4 months 

The Market is: A Buyers Market (WEAK)

Pricing Pressure is: Downward

 

Source: Hurst Appraisal, Lexington SC using CMLS sales data.