Some of the quick facts for real estate for 2011. First of all it was not the recovery year it started out to be or was expected to be. For the Anderson, SC buyer it was a great year to buy, prices were still a record low and interest rates remain low. In December, the final month of 2011 the new listings decreased 16.5% to 350 units. The pending sales were down 33.3%, to 126 and inventory levels shrank to 11.1%
However home prices finished the year on an up note. The Median Sales Price increased 6.2% to $116,777, day on the market remained flat at 177 days.
Absorption rates improved as the Months Supply of Inventory was down 5.7% This means in the Western Upstate it takes an average of 16.9 months to sell a house, which is an improvement.
The final number of sold homes in Anderson county for 2011 was 1315. This is a decrease of 4.3% from 2010.
As we head past the first quarter of 2012 sales have improved, which for Anderson and Oconee Counties this is a welcome change.