Columbia Home Sales Up 19% in July

Greater Columbia home sales climbed nearly 19% in July compared with the same month in 2014, the South Carolina Association of Realtors reported.

The number of residential homes, condos and villas sold last month totaled 1,160 compared with 976 for July of 2014, the trade group said.

For the second quarter, home sales climbed 19.6% to 3,185 units compared with 2,662 for the second three-month stretch of 2014. Through the first half of the year sales are up 20.4% or 6,591 units over the first half of 2014.

Meanwhile, the median price for July rose 5.3% to $176,450 compared with $167,500 for the same month in 2014. Prices for the second quarter rose 9.5% to $174,000 compared with the second quarter of 2014 while for the first half prices rose 7.6% over the first half of 2014.

The sales pace remains brisk as the average number of days a home is on the market dropped 13.3% to 65 days in July compared with July 2014.

Statewide July market data showed new listings rose 6% to 10,141 while pending sales increased more than 7% to 6,502. Inventory shrank almost 6% to 40,625 units.

Prices moved higher as median sales price was up almost 8% to $180,000, while the number of days on market dropped 10% to 99 days and the months’ supply of inventory was down 18% to seven months.

“We're glad to see that many economic trends are continuing, revealing a stable housing market and even more opportunity for South Carolina's citizens to achieve the dream of homeownership,” said Nick Kremydas, CEO of the association.