Home Sales Increase Nationally But What About Chapin

Home Sales Increase Nationally But What About Chapin

Some good news out of the The Commerce Department today that should bring smiles to homeowners all across the greater Columbia, South Carolina area, including Chapin, Irmo and Lexington as well. New-home sales increased 6.8 percent last month to a seasonally adjusted annual rate of 517,000. Meanwhile year-to-date, sales of existing homes were up 6%. 

Rising demand though has created a supply crunch. The market has a modest 4.8-month supply of new homes, sharply below the average of six months that economists say indicates a healthy market. Contrast that with Chapin for instance where there was only 4 months of active inventory at the end of April. That means if you are a homeowner it is a great time to think about selling. Curious as to what your home might sell for?  Find out here. Additional highlights from the Chapin real estate market include:  

Chapin, South Carolina Real Estate Activity 

Month April 2014 Month April 2015 Year to date April 2014 Year to date April 2015 % variance YTD
# Homes sold 4636137132-4%
Avg. sales price $258,698$272,553$254,426$268,498+6%
Avg. # days on market  144103131109-17%
List to sales price ratio 80778581-5%

If you are thinking  of buying  great news on the mortgage front too where average 30-year fixed rates were 3.84 percent last week, according to the mortgage giant Freddie Mac. That average has risen slightly in recent weeks, but it has dropped from 4.14 percent last year and is well below the 10 year average as illustrated in the table below. 

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Gary Heiligman Real Estate Professional advocating and negotiating on behalf of  Buyers and Sellers in  communities surrounding Lake Murray South Carolina including, ChapinIrmo, Lexington and Timberlake . Real Estate with Gary Heiligman associated with EXIT Midlands Realty, email garyscexit@gmail.com or call 803-271-9544 

Maria Kitchens Headshot
Phone: 803-467-1694
Dated: May 26th 2015
Views: 1,229
About Maria: Maria Kitchens is a Real Estate Professional who has lived in Chapin, SC, for the past nine years wi...

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Location & Address

EXIT Midlands Realty
PO Box 807
Chapin, SC