Charleston SC Homes For Sale : August 2015 National Housing Trends

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Charleston SC Homes For Sale : August 2015 National Housing Trends

Charleston SC Homes For Sale : August 2015 National Housing Trends

Housing Market Strong Through July, Continuing Springtime Momentum
The strong springtime housing market continued into the summer, with various metrics outpacing levels seen a year ago, according to results from the latest Campbell/Inside Mortgage Finance HousingPulse Tracking Survey.
Sales-to-list price ratios remained elevated, indicating strong demand, particularly from current homeowners.
The sales-to-list price ratio for non-distressed properties was 98.5% in July, based on a three-month moving average. The ratio was level compared with the previous month and up from 97.7% in July 2014.
As prices on non-distressed properties have increased, buyers have put an increased emphasis on lower-priced homes. “The minute a good home listed between $125,000 and $150,000 comes on the market it’s like ants on sugar, with multiple offers and the price zooms up,” said an agent in Texas.
All three states on the west coast had average sales-to-list price ratios above 100% in July, an uncommon event. In California, the sales-to-list price ratio averaged 102.9% during the month while the Industrial Midwest had the lowest average sales-to-list price ratio at 96.7%.
The average time on market for non-distressed properties continued to decline, hitting 8.2 weeks in July, down from 8.5 weeks in June and 8.4 weeks in July 2014.  The Pacific Northwest had the lowest time on market for non-distressed properties during the month at an average of 4.6 weeks while the South had the longest average time on market for non-distressed properties at 10.3 weeks.  Learn more about the August 2015 National Housing Trends here.

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