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Real Estate Columbia Area News March 2020
Real Estate Columbia Area Market News
March 2020 by Southern Shores Real Estate Group - Midlands
If you're new to the Columbia Area, let us welcome you too! Although we are also new to the Midlands, we are seasoned agents with over 20 years of experience. Our sister offices are located in West Ashley, Florence, and Summerville and they serve the LowCountry area.
Real Estate market reports vary not just by region of the country, but even in each state. Our CEO's Chris Barnette and Cheryl Ludman, were discussing this exact thing in our office recently. When the recession hit, the Midlands didn't suffer like the LowCountry did. Our market here is a lot more stable than it is elsewhere. For the most part that has to do with our job markets and leading industries.
The average days on the market here is about 90 days, however recently anything that goes on the market sells within days - Literally! You will here a lot about Absorbtion rate.
"Absorption rate is a term most commonly used in the real estate market to evaluate the rate at which available homes are sold in a specific market during a given time period. It is calculated by dividing the average number of sales per month by the total number of available homes."
Inventory and Sales Year-to-Year Report Single Family Homes
Richland, Lexington, & Newberry Counties
|Qty Sold||% Chg||Volume Sold||% Chg||Average Sale||% Chg||Median Sale||% Chg||Qty Active||% Chg|
|One Year Ago||2,131||459,408,195||215,583||187,000||5,923|
|Increase / (Decrease)||(795)||-37 %||(169,596,224)||-37 %||1,342||1 %||(2,000)||-1 %||(1,383)||-23 %|
For more information about your home value and specific neighborhood statistics contact us directly.
Yvonne Torres-Baatz is a local real estate agent servicing the Columbia-Chapin SC market for Southern Shores Real Estate Group in the Midlands. No one makes oatmeal raisin cookies that taste as go....
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