Historic Beattie House For Sale

The Beattie House, constructed in 1834, is the third oldest structure in Greenville, and is located in the East Park Avenue Historic District in downtown Greenville. The property and house are up for sale, with the Offering Memorendum available on October 21st. Click here for more details.

Existing Home Sales Rise to Pre-Recession Level

Existing home sales, as reported by the National Association of Realtors, increased in June to the highest level since February 2007. Although the June percent share of first-time buyers declined from May to 30%, that share remained at or above 30% for the fourth consecutive month. Total existing home sales increased by 3.2% in June to a seasonally adjusted rate of 5.49 million units combined for single-family homes, townhomes, condominiums and co-ops, up from a downwardly revised 5.32 million units in May. Junel existing sales were up 9.6% from the same period a year ago, and have increased year-over-year for nine consecutive months.

Existing sales increased in all regions, ranging from 4.7% in the Midwest to 2.3% in the South. Year-over-year, all four regions also increased, ranging from 12.7% in the Midwest to 7.3% in the South.
Total housing inventory in June increased by 0.9% from May, and is very slightly above its level a year ago. At the current sales rate, the June unsold inventory represents a 5.0-month supply, lower than the 5.1-month and 5.3-month supply the previous two months. Some 47% of existing homes in June were on the market for less than a month, the highest share since June 2013.
The distressed sales share decreased to 8% from 10% in May, and are well below the 11% share during the same month a year ago. Distressed sales are defined as foreclosures and short sales sold at deep discounts. June all cash sales fell to 22%, matching the lowest share since December 2009. Individual investors purchased a 12 share of homes in June, down from 16% during June of 2014. The accelerating withdrawal of cash investors will create more opportunity for first-time buyers.
The June median sales price of $236,400 was 6.5% above the same month a year ago, represented the 40th consecutive month of year-over-year price increases, and surpassed the peak median sales price set in July 2006. The median condominium/co-op price increased to $226,500 in June, and was up 5.5% from the same month a year ago.
The Pending Home Sales Index increased for the fifth consecutive month in May. The continued increase in existing sales is expected to increase throughout the year, as first-time buyers return to the market.

Article courtesy of NAHB's Eye on Housing 

GSA Business: South Carolina Home Sales Up 22 percent in September

According to a report in GSA Business this week, South Carolina home sales were up 21.9 percent in September.  The report was based on data compiled by South Carolina Realtors from South Carolina-based multiple listing services.  Sales were up in Greenville by 24.9 percent to 767, and 31.3 percent in Spartanburg to 227.  Statewide 5,267 homes were sold in September.

Read more at GSA Business by clicking here.

GGAR: Greenville Home Sales Up 23 Percent

Greater Greenville Association of Realtors reports that existing home sales rose 23.3 percent in June, compared to June 2012; 936 homes listed in the Multiple Listing Service sold in June.  Home prices edged up .1 percent to $160,000.

The average time on market fell 15.9 percent to 78 days.

Read the complete report at GSA Business by clicking here.

Study shows increase in South Carolina home sales for July

The S.C. Realtors said in their monthly home sales report that sales are up by 13.4% statewide. Which indicates a trend toward rising prices and more homes sold in a shorter time on the market. This is great for many sellers who have waited to place their homes on the market as new listings in South Carolina increased 2% and pending sales were up 11%. Another great sign for optimistic sellers is that the inventory of unsold homes has gone down 15.1% and low interest rates have helped as they dipped below 3.49% for a 30-yr fixed mortgage.  However, we still have a ways to go before sustained recovery as consumers are still lacking confidence in both the economy and their family finances.
The strongest increases in the number of homes sold were in the Spartanburg and Hilton Head markets reaching 25% in both areas.

Here are some market facts:

• The strongest price range was $200,001-$300,000 with a 15.4% increase in sales during July, compared with the year-earlier month.
• The bedroom count with the strongest sales in July was 4 bedroom or more, and sales up 15.1%.
• Condominiums were the property type with the strongest sales, up 11.4%. 

Builder: Greenville New Home Sales Continue to Rise, but More Slowly

According to Builder magazine, new home sales continued to rise, but the pace of growth is slowing a bit.  According to Builder's data, new home sales grew 21.3 percent in October, compared to the same month in 2010.  That growth follows a 48.6 percent increase the month before.

New home sales made up 15.7 percent of all home sales in October, up 12.5 percent in October 2010.

You can review Builder's report for Greenville at builderonline.com by clicking here.

GSA Business: South Carolina Home Prices Up 2.8 Percent, Second Highest in Nation

According to GSA Business, home prices rose in South Carolina in 2011 at the second highest rate in the nation.  Including distressed sales, home prices rose 2.8 percent.  Excluding distressed sales, home prices rose 4.9 percent.

Read the entire report at GSABusiness.com by clicking here.

Wall Street Journal: Realtors to Restate Home Sale Estimates

The National Association of Realtors announced this week that it will restate its estimates of existing home sales for the past four years.  The group said its overstated estimate of existing home sales was caused by reliance on inaccurate data from local multiple listing services, and some sales being counted more than once.

Read the full report at the Wall Street Journal by clicking here.

UPDATE: CNBC weighs in, says numbers may be 20 percent high.  Click here to read the CNBC.com report.
UPDATE: Fox Business News weighs.  Click here to read the foxbusiness.com report.

GSA Business: Homes sales up in August

According to the Greater Greenville Association of REALTORS®, homes sales jumped 42 percent in August, compared to the same month in 2010.  This was the second consecutive monthly increase, although home sales for the year are still down about 9 percent.

Read the entire report at GSA Business by clicking here.