Columbia SC Home Prices Up in September

Columbia SC home prices were up in September, while prices nationwide were up 5 percent year-over-year and home sales posted a 4 percent annual increase.

According to Redfin’s analysis of activity across many major U.S. markets, these increases come even as housing metrics began their typical seasonal declines.

Redfin CEO Gelnn Kelman points out that “September is usually the month that real estate goes on sale, like Christmas toys in January. Whatever didn’t sell in the summer gets marked down for a September closing. This September however, we saw only a modest decline in prices, with inventory still dropping and demand fairly steady.”

Homes on the market continue to sell quickly, according to Redfin. The company’s study shows the percentage of listings that sold within 14 days of their debut held at 27 percent in September.

Redfin says price declines in some areas have been as low as 0.8 percent, a smaller decline than is customary at this time of year. Over the same period, home sales dropped in some areas by around 17 percent — a figure the company says represents “a typical seasonal decline.”

Redfin’s real-time tracker provides monthly data on home prices, sales, and inventory, based on the local databases used directly by real estate agents to list properties and record sales. Redfin has access to dozens of Multiple Listing Services (MLSs) used by agents, which means the company gets its data within minutes of a sale, pending sale, or listing activation.

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