A M. Appraisals Blog

This year, 2020, has truly been unique in many ways. As we reached the halfway point, here are a few NATIONAL/INTERNATIONAL stats that have affected the current economic state of affairs and led to a hot real estate market:

Key Economic Data and Events in July 2020
  • The last FOMC Meeting concluded with the Fed continuing its current Monetary Policy
  • 2nd Quarter GDP showed the Economy Contracted 32.9%
  • The Economy added 4.8 million jobs, and the Unemployment Rate fell to 11.1%
  • The 10 Year Treasury Security yield is bouncing around 0.6%
Housing Market Data Released in July 2020
  • Existing Home Sales (closed deals in June) rose 20.7% to an annual rate of 4,720,000 homes, down 11.3% in the last 12 months. The median price for all types of homes is $295,300 - up 3.5% from a year ago. The median Single Family Home price is $298,600 and $262,700 for a condo. First Time Buyers were 35%, Investors 9%, Cash Buyers 16%. Homes were on the market for an average of 24 days, and 62% were on the market for less than a month. Currently, 1,570,000 homes are for sale, down 18.2% from 1,920,000 units a year ago.
  • New Home Sales (signed contracts in June) rose 13.8% to a seasonally adjusted annual rate of 776,000 homes - up 6.9% YoY. The median New Home price is $329,200, and the average is $384,700. There are 307,000 New Homes for sale, which is a 4.7 month supply.
  • Pending Home Sales Index (signed contracts in June) rose 16.6%, up 6.3% YoY.  
  • Building Permits (issued in June) rose 2.1% to a seasonally adjusted annual rate of 1,241,000 - down 2.5% YoY. Single-Family Permits rose 11.8% to an annual pace of 834,000 units, down 1.1% YoY.    
  • Housing Starts (excavation began in June) rose 17.3% to an annual adjusted rate of 1,186,000 units - down 4.9% YoY. Single-Family Starts rose 17.2% to 831,000 units - down 3.9% in the last 12 months. 
  • Housing Completions (issued in June) rose 4.3 to an annual adjusted rate of 1,250,000 - up 5.1% YoY. Single Family Completions rose 9.6% to 910,000 units - up 4.0% in the last 12 months.
  • S&P/Case-Shiller 20 City Composite Home Price Index rose 0.04% in May, up 3.7% YoY. 
  • FHFA Home Price Index fell 0.3% in May, now up 4.9% YoY. 
Labor Market Economic Data Released in July 2020
  • The Economy added 4,800,000 Jobs in June
  • The Unemployment Rate fell to 11.1% in June from 13.3% the previous month                                                                                   
  • The Labor Force Participation Rate rose to 61.5% in June from 60.8% the previous month The Average Hourly Wage fell 1.2% in June, up 5.0% YoY
Inflation Economic Data Released in July 2020
  • CPI rose 0.6%, up 0.6% in the last 12 months
  • Core CPI (ex-food & energy) rose 0.2%, up 1.2% in the last 12 months
  • PPI fell 0.2%, down 0.8% in the last 12 months
  • Core PPI (ex-food & energy) fell 0.3%, down 0.1% in the last 12 months
GDP Economic Data Released in July 2020
  • Retail Sales rose 7.5% during June, now up 1.1% in the last 12 months
  • Consumer Confidence Index fell to 92.6 from 98.1 the prior month         
  • Consumer Sentiment Index (U of M ) fell to 72.5 from 78.1 the previous month 
Energy, International, and Things You May Have Missed   
Oil Prices are up slightly as they bounce around $42 a barrel. WTI Crude (West Texas Intermediate) is trading around $41/barrel, and Brent Crude is trading around $44/barrel.
  • The US Dollar weakened against the Euro, now about $1.18 vs the Euro.
  • The USMCA (US Mexico Canada Agreement) became effective July 1.
  • Eurozone GDP dropped 12.1% in the 2nd quarter. Germany's GDP was down 10.1%, France down 13.8%, Italy down 12.4%, Spain down 18.5%.
  • China's GDP grew 3.2% YoY in the 2nd quarter - if you can trust their data.
 
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The material provided is for informational and educational purposes only and should not be construed as investment, legal, financial, or mortgage advice. The information is gathered from sources believed to be credible. The source for most of the information, Act Appraisal Inc and Mortgage Elements Inc, do not guarantee or warrant its completeness or accuracy and there is no guarantee it is without errors.

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Posted by Ashley Martin on August 6th, 2020 6:01 AMLeave a Comment

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MEDIAN SALES PRICES







Here is a link to current market activity for the COLUMBIA MLS market by area for November 2019:

https://files.constantcontact.com/b2ef073b701/93375195-04f3-46ac-9155-f198447b006c.pdf






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Posted by Ashley Martin on December 18th, 2019 8:32 AMLeave a Comment

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For the 12-month period spanning August 2018 through July 2019, Pending Sales in the CMLS region were up 4.3 percent overall. The price range with the largest gain in sales was the $300,001 and Above range, where they increased 17.4 percent.

The overall Median Sales Price was up 6.3 percent to $176,500. The property type with the largest price gain was the Single-Family Homes segment, where prices increased 7.1 percent to $182,000. The price range that tended to sell the quickest was the $100,001 to $150,000 range at 39 days; the price range that tended to sell the slowest was the $300,001 and Above range at 79 days.

Market-wide, inventory levels were up 5.0 percent. The property type that gained the most inventory was the Single Family segment, where it increased 5.7 percent. That amounts to 2.9 months supply for SingleFamily homes and 2.6 months supply for Condos.












Posted in:MARKET REPORT and tagged: MARKET REPORT
Posted by Ashley Martin on August 20th, 2019 3:31 AMLeave a Comment

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January 5th, 2017 8:21 AM

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Posted by Ashley Martin on January 5th, 2017 8:21 AMLeave a Comment

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 New ListingsSold Listings  
AreaAvailable InventoryNewAvg List PricePendingSalesAvg Sale Price% SP/LPAvg DOMWithdrawnExpired
Area 0012,7412,120172,8521,5541,458156,20196.6872438288
Area 0021,6841,293151,0411,019966141,54496.6780243145
Area 003945681114,569393381105,61292.8393198158
Area 0045,1833,945215,9882,6672,496192,38697.5987881591
Area 005816619190,630382357175,26994.958317092
Area 006612461319,646356339309,68494.797212339
Area 0071,006724210,521446413202,17894.7285191135
Area 008860607154,197485472144,27596.289415583
Area 00913285132,7906156102,51791.051262915
Area 010405297105,879201206101,89695.81756770
Area 0113,7642,970217,4862,2582,195203,44598.5876504351
Area 012432305176,982230213165,02894.921057842
Area 014895722252,953522481236,34198.437513077
Area 0152520238,4851110136,34093.388135
Area 020328235600,161147133562,34094.321216940
Area 021165107493,5165349308,56993.961362939
Area 0226946302,5873030270,91294.391561315
Area 023202144569,6058073538,92394.631253731
Area 02465259,7001247,4501001812
Area 030943709181,737538531168,39098.168612992
Area 031744467219,597282265167,24593.50134123112
Area 0409773115,780424085,39196.7069219
Area 05010070223,6694028153,22596.03761820
Area 060178119191,0525343128,76393.281393739
Area 0702314154,22577143,97597.5410038
Area 0808562186,5044040111,51590.631171315
Area 090430298120,386210208122,36893.371076364
Area 100346213207,066128115167,12791.301516850
Area 110266199164,003967998,01692.32965251
Residential29,71717,610208,9391,34111,686185,68296.67853,8862,678
Auction23621287,0121410679,46291.12775030
Commercial-Indust897415346,5031890268,52786.10225118220
Lots and Acreage6,4642,869135,34114684180,71987.042767421,496
Multi Family318180207,3351584173,67691.631193555
Proposed Construction14649231,261000004122
Rental3,2351,8341,40419532,0463,751.442738681


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Posted by Ashley Martin on October 3rd, 2016 11:49 AMLeave a Comment

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November 16th, 2015 8:31 AM

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Posted by Ashley Martin on November 16th, 2015 8:31 AMLeave a Comment

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December 9th, 2014 4:22 PM

Number of Residential Homes, Condos & Villas Sold

10-2013

10-2014

% Change

Q3-2013

Q3-2014

% Change

2013

2014

% Change

Aiken

120

151

+25.8%

445

481

+8.1%

1,312

1,421

+8.3%

Beaufort

125

136

+8.8%

337

401

+19.0%

1,122

1,255

+11.9%

Charleston Trident

1,048

1,260

+20.2%

3,803

4,067

+6.9%

11,087

11,994

+8.2%

Cherokee County

16

51

+218.8%

119

132

+10.9%

349

479

+37.2%

Coastal Carolinas

876

931

+6.3%

2,807

2,931

+4.4%

8,667

8,967

+3.5%

Greater Columbia

5,027

6,087

+21.1%

17,678

18,993

+7.4%

52,621

55,843

+6.1%

Greater Greenville

757

977

+29.1%

2,751

2,971

+8.0%

8,066

8,658

+7.3%

Greenwood

52

66

+26.9%

206

206

0.0%

609

581

-4.6%

Hilton Head Area

5,027

6,087

+21.1%

17,678

18,993

+7.4%

52,621

55,843

+6.1%

North Augusta

75

94

+25.3%

311

368

+18.3%

901

1,029

+14.2%

Pee Dee

147

155

+5.4%

464

499

+7.5%

1,434

1,494

+4.2%

Piedmont Regional

233

245

+5.2%

860

862

+0.2%

2,458

2,486

+1.1%

Southern Midlands

29

20

-31.0%

74

72

-2.7%

253

252

-0.4%

Spartanburg

299

370

+23.7%

1,020

1,025

+0.5%

3,050

3,217

+5.5%

Sumter/Clarendon County

86

127

+47.7%

345

386

+11.9%

1,061

1,106

+4.2%

Western Upstate

271

318

+17.3%

1,006

1,103

+9.6%

2,930

3,165

+8.0%

State Totals*

3,910

4,825

+23.4%

13,728

15,018

+9.4%

40,811

44,083

+8.0%

Median Price of Residential Homes, Condos & Villas Sold

10-2013

10-2014

% Change

Q3-2013

Q3-2014

% Change

2013

2014

% Change

Aiken

$130,000

$145,000

+11.5%

$141,500

$144,650

+2.2%

$141,450

$143,150

+1.2%

Beaufort

$176,000

$183,500

+4.3%

$190,000

$200,000

+5.3%

$180,676

$189,900

+5.1%

Charleston Trident

$190,000

$215,000

+13.2%

$209,423

$215,000

+2.7%

$202,000

$216,000

+6.9%

Cherokee County

$37,500

$76,751

+104.7%

$84,900

$70,750

-16.7%

$74,500

$74,301

-0.3%

Coastal Carolinas

$145,000

$156,000

+7.6%

$152,000

$156,379

+2.9%

$145,500

$154,000

+5.8%

Greater Columbia

$153,000

$160,500

+4.9%

$160,000

$164,000

+2.5%

$155,000

$160,000

+3.2%

Greater Greenville

$152,900

$162,000

+6.0%

$160,000

$164,000

+2.5%

$154,900

$159,500

+3.0%

Greenwood

$120,500

$121,250

+0.6%

$120,000

$125,000

+4.2%

$115,000

$114,900

-0.1%

Hilton Head Area

$153,000

$160,500

+4.9%

$160,000

$164,000

+2.5%

$155,000

$160,000

+3.2%

North Augusta

$129,000

$133,900

+3.8%

$140,000

$150,713

+7.7%

$139,900

$140,000

+0.1%

Pee Dee

$122,000

$122,900

+0.7%

$119,900

$115,000

-4.1%

$120,000

$116,000

-3.3%

Piedmont Regional

$137,550

$156,500

+13.8%

$152,000

$155,000

+2.0%

$145,000

$150,750

+4.0%

Southern Midlands

$54,900

$59,000

+7.5%

$76,500

$86,000

+12.4%

$72,000

$80,000

+11.1%

Spartanburg

$120,000

$120,000

0.0%

$128,000

$131,000

+2.3%

$122,000

$124,900

+2.4%

Sumter/Clarendon County

$140,500

$120,000

-14.6%

$141,500

$127,000

-10.2%

$131,900

$128,500

-2.6%

Western Upstate

$137,500

$140,000

+1.8%

$135,000

$140,000

+3.7%

$133,000

$137,500

+3.4%

State Totals*

$150,000

$160,000

+6.7%

$159,428

$163,000

+2.2%

$153,000

$159,900

+4.5%

Average Days on Market Until Sale (DOM)

10-2013

10-2014

% Change

Q3-2013

Q3-2014

% Change

2013

2014

% Change

Aiken

163

196

+20.6%

191

188

-1.7%

197

202

+2.6%

Beaufort

159

136

-14.3%

194

179

-7.5%

190

176

-7.4%

Charleston Trident

84

81

-4.1%

81

77

-4.7%

87

81

-7.4%

Cherokee County

116

141

+22.1%

169

118

-29.7%

155

139

-9.8%

Coastal Carolinas

158

156

-1.6%

166

161

-3.1%

167

162

-2.9%

Greater Columbia

116

113

-2.8%

119

112

-5.6%

123

117

-5.2%

Greater Greenville

84

79

-6.4%

85

74

-12.9%

89

82

-8.3%

Greenwood

177

181

+2.4%

178

163

-8.1%

169

157

-6.9%

Hilton Head Area

116

113

-2.8%

119

112

-5.6%

123

117

-5.2%

North Augusta

141

155

+9.6%

144

165

+15.2%

162

175

+8.3%

Pee Dee

106

120

+13.3%

106

101

-4.1%

111

109

-1.8%

Piedmont Regional

126

129

+2.5%

145

130

-10.4%

141

136

-3.8%

Southern Midlands

208

223

+7.4%

219

187

-14.6%

214

190

-11.2%

Spartanburg

124

134

+8.5%

138

130

-5.8%

141

135

-4.1%

Sumter/Clarendon County

154

177

+14.3%

173

158

-8.6%

173

173

-0.2%

Western Upstate

108

123

+14.0%

108

110

+1.4%

112

111

-0.9%

State Totals*

117

116

-1.0%

122

114

-6.8%

126

120

-4.7%

Key Metrics 10-2013 10-2014 Percent Change YTD 2013 YTD 2014 Percent Change

 


Posted by Ashley Martin on December 9th, 2014 4:22 PMLeave a Comment

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Month Year Units
Listed
Listed
Volume
Listed
Average
Units
Sold
Sold
Volume
Sold
Average
Average
DOM
Jan 2013 1414 256,316,027 181,270 542 86,286,387 159,199 117
Feb 2013 1386 246,788,506 178,058 578 86,372,999 149,434 120
Mar 2013 1544 307,099,099 198,898 755 127,439,376 168,793 119
Apr 2013 1623 308,757,282 190,238 782 129,314,222 165,363 116
May 2013 1519 302,085,265 198,871 957 167,001,867 174,505 107
Jun 2013 1394 273,111,101 195,919 956 166,252,994 173,904 101
Jul 2013 1491 275,446,246 184,739 939 160,892,614 171,344 109
Aug 2013 1420 254,128,552 178,963 988 166,020,137 168,036 97
Sep 2013 1191 212,491,830 178,414 775 128,779,954 166,167 104
Oct 2013 1387 267,246,488 192,679 741 123,355,959 166,472 112
Nov 2013 1173 220,172,782 187,700 627 108,659,658 173,300 104
Dec 2013 913 167,586,077 183,555 673 115,124,134 171,061 107
Totals:   16455 3,091,229,255 187,860 9313 1,565,500,301 168,098 109

Total Listed:16455 Sold Units:9313 Remaining Units:7142 Inventory Accum.:9.20 *
Min Sold Price:
$1
Average Sold Price:
$168,098
Median Sold Price:
$143,500
Max Sold Price:
$1,590,000
Min List Price:
$0
Average List Price:
$187,859
Median List Price:
$150,000
Max List Price:
$2,999,000
* Inventory Accumulation (in months) = (# Remaining Units)/(# Sold Units/# Months)

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Posted by Ashley Martin on January 24th, 2014 1:33 PMLeave a Comment

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January 24th, 2014 1:31 PM


Month Year Units
Listed
Listed
Volume
Listed
Average
Units
Sold
Sold
Volume
Sold
Average
Average
DOM
Jan 2012 1403 235,975,094 168,193 425 71,699,367 168,704 115
Feb 2012 1335 237,298,420 177,751 462 69,656,568 150,771 127
Mar 2012 1562 292,045,270 186,968 637 98,502,300 154,634 123
Apr 2012 1427 269,460,024 188,829 646 103,534,643 160,270 126
May 2012 1437 264,098,052 183,784 729 115,706,070 158,718 119
Jun 2012 1309 241,868,212 184,773 725 122,780,737 169,352 112
Jul 2012 1357 238,808,252 175,982 730 120,514,562 165,088 113
Aug 2012 1406 255,475,474 181,703 792 129,193,790 163,123 120
Sep 2012 1164 204,049,833 175,300 595 100,500,379 168,908 111
Oct 2012 1255 219,674,643 175,039 687 109,601,544 159,536 113
Nov 2012 1022 185,014,878 181,032 616 94,038,171 152,659 116
Dec 2012 756 123,711,602 163,639 580 94,774,794 163,404 113
Totals:   15433 2,767,479,754 179,322 7624 1,230,502,925 161,399 117

Total Listed:15433 Sold Units:7624 Remaining Units:7809 Inventory Accum.:12.29 *
Min Sold Price:
$555
Average Sold Price:
$161,398
Median Sold Price:
$139,000
Max Sold Price:
$1,451,000
Min List Price:
$0
Average List Price:
$179,322
Median List Price:
$141,875
Max List Price:
$12,500,000

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Posted by Ashley Martin on January 24th, 2014 1:31 PMLeave a Comment

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Month Year Units
Listed
Listed
Volume
Listed
Average
Units
Sold
Sold
Volume
Sold
Average
Average
DOM
Jan 2012 1399 249,456,654 178,310 415 68,709,068 165,564 114
Totals:   1399 249,456,654 178,311 415 68,709,068 165,564 114

Total Listed:1399 Sold Units:415 Remaining Units:984 Inventory Accum.:2.37 *
Min Sold Price:
$6,750
Average Sold Price:
$165,564
Median Sold Price:
$139,000
Max Sold Price:
$960,000
Min List Price:
$5,000
Average List Price:
$178,310
Median List Price:
$140,000
Max List Price:
$2,300,000
* Inventory Accumulation (in months) = (# Remaining Units)/(# Sold Units/# Months)



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Posted by Ashley Martin on February 17th, 2012 12:45 PMLeave a Comment

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