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SC home prices surge in April

Thursday night the Community Development Committee will present their 5-year sustainable and...
Thursday night the Community Development Committee will present their 5-year sustainable and inclusive growth plan for affordable housing in Charleston.(Live 5)
Updated: May. 19, 2021 at 5:18 AM EDT
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GEORGETOWN, S.C. (WCSC) - The Coastal Carolinas Association of Realtors says home sale prices are continuing to rise in 2021.

CCAR released their April 2021 real estate market report, which revealed a busy spring market combined with strong buyer demand and a limited housing supply was continuing a trend of rising prices.

Reports say coastal Carolina’s median sales prices is $280,000, the highest it’s been since January 2016. CCAR says closed sales of single family homes in April increased by 54.8% and by 133.2% for condos. They also say pending sales increased by 100.5% for single family homes and by 263.3% for condos.

Supply decreased by around 76% for both single family homes and condos, the association says.

“REALTORS are seeing many multiple offer situations, which drives sales prices above asking prices,” CCAR CEO Laura Crowther said. “And, often, by the time a property sale closes, the market already moves higher than that that sold price suggests.”

More information about April CCAR market stats and insight into more 2021 real estate trends can be found at the CCAR’s website.

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