Summerville SC Real Estate Market Report

March 2020- What Happened in Summerville SC Real Estate Last Month?

The Spring Market has arrived in Summerville Real Estate ! Our current reports continue to show a strong seller's market. According to our Summerville real estate market reports, we now have 16% less homes for sale in Summerville then we did this time last year and the average sales price for homes in Summerville last month closed out at $276,727, which is 8%  up from this time last year.


We saw  260 homes for sale in Summerville sell after an average of 56 days on the market. The number of days it takes for a home to sell in Summerville is similar to this time last year.


The average price per square foot in Summerville held steady at $133/square foot last month due to the lack of inventory.




The real estate market has seen a tremendous increase in new homes for sale in Summerville as the demand grows and the supply of resale homes dwindles.  

New home developments and master planned communities, such as Cane Bay Plantation, Nexton, and Summers Corner are meeting the needs of many people desiring to live in Summerville with amenity centers and schools within the communities.


We are still quite low with the months supply of homes for sale in Summerville dipping below 2.5 months. (A balanced market averages 5-6 months of home inventory.)


   



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Foster Smith
Foster Smith
Realtor
900 North Main st Summerville SC 29483