S.C. median home price up 6% from last year, sales pace slips

By Ashley Barker
Published June 24, 2014

The median sales price of residential properties in the Palmetto State last month was $133,000, which is up 6% from last year, according to RealtyTrac’s May 2014 Residential and Foreclosure Sales Report.

Single-family homes, condominiums and townhomes in South Carolina sold at an estimated annual pace of 91,201 in May, according to data from RealtyTrac.

The housing data company said the pace is about the same as April’s estimate and 2% lower than last May. Nearly 10% of the property sales were short sales, real-estate owned sales or public foreclosure auction sales.

In the United States, properties sold at an estimated annual pace of 5,147,550 last month, an increase of less than 1% from May 2013, and the median sales price was $180,000. The county’s median sales price jumped 13% from May 2013, marking the largest annual increase since U.S. home prices bottomed out in March 2012, RealtyTrac said.

The median price of distressed sales, which includes properties in the foreclosure process or bank-owned properties, was $120,000. About 14% of all U.S. residential sales last month were distressed and short sales, down from nearly 16% in May 2013, according to RealtyTrac.

Read more at: http://www.gsabusiness.com/news/51763-s-c-median-home-price-up-6-from-last-year-sales-pace-slips?rss=0

cohesiveS.C. median home price up 6% from last year, sales pace slips