Recap of 2020 Local Government Activities Anderson Anderson County approved new subdivisions as well as some rezoning of tracts of land. These include: Woodglen Housing Development including 592 units built in two phases 19-acre tract along Welpine road to include an apartment complex with 252 units 675 single-family residences on a tract of land in Piedmont along SC 86 and Blossom Branch Road (pending sewer access) A 141-acre tract of land along Liberty Hwy was rezoned for Single Family Residential  A 10-acre tract of land along the Hwy 81 Scenic Route was rezoned for Mixed Family Residential Valley Oaks Subdivision...

Are you guilty of a possible license law violation? Let’s check and see! SC Real Estate License Law Section 40-57-135 (H) states: (H) With regard to offers to purchase real estate, a licensee shall: (1) upon receipt, prepare all offers in writing and promptly present them to the seller; Have you been presenting oral offers?  Text offers? Email offers? Not using a written document in compliance with the law?  If the answer to that is “yes”, a complaint could be made to LLR and you could be found guilty of a license law violation.  This could result in a fine,...

Inventory remains constrained in most segments of the market, while buyer activity remains strong. With the holiday season upon us, both buyer and seller activity typically follow seasonal slowdowns before rebounding in the new year. For the 12-month period spanning December 2019 through November 2020, Pending Sales in the Western Upstate region were up 4.1 percent overall. The price range with the largest gain in sales was the $300,001 and Above range, where they increased 34.1 percent. The overall Median Sales Price was up 12.9 percent to $205,000. The property type with the largest price gain was the Single-Family Homes...

Interest rates set new record lows again in October, and are helping to maintain buyer purchasing power in the face of rising home prices driven by multiple offers across many segments of the market. While seller activity in some segments has improved, available inventory remains tight in many areas. For the 12-month period spanning November 2019 through October 2020, Pending Sales in the Western Upstate region were up 4.4 percent overall. The price range with the largest gain in sales was the $300,001 and Above range, where they increased 30.3 percent. The overall Median Sales Price was up 13.3 percent...

Strong buyer activity has continued into the fall and the constrained supply of homes for sale, speedy sales, and multiple offers across many segments of the market will remain common so long as buyer demand remains at elevated levels. For the 12-month period spanning October 2019 through September 2020, Pending Sales in the Western Upstate region were up 2.1 percent overall. The price range with the largest gain in sales was the $300,001 and Above range, where they increased 22.5 percent. The overall Median Sales Price was up 10.9 percent to $199,500. The property type with the largest price gain...

The housing and stock markets continue to be the leaders in the economy. In August, showings and pending sales remained at strong levels. Housing inventory remained limited in many segments, continuing the competitive bidding we have seen across much of the market in recent months. Nationally, the Commerce Department and U.S. Housing and Urban Development report total housing production is up 22.6% to a seasonally adjusted annual rate of nearly 1.5 million units, the highest rate since February. According to the National Association of Home Builders estimates, lumber prices have surged more than 110% since mid-April, adding approximately $14,000 to...

Strong buyer demand in the face of a constrained supply of homes for sale continues to be the story again this month. New construction activity, in the form of housing starts as reported by the Department of Commerce, has picked up in recent weeks but remains well below levels required to substantially increase the number of homes for sale. Continued low interest rates are expected to maintain healthy buyer activity, while reluctant sellers and the changing season are likely to drag the inventory of homes for sale lower into the late summer and early fall market. For the 12-month period...

Nationally, June showing activity as tracked by ShowingTime was up notably from the COVID-19 depressed levels in recent months but was also up from June 2019, reflecting pent-up demand by prospective home buyers. While buyer activity continues to be robust, seller activity continues to be a bit softer, with fewer homes being listed for sale than a year ago. Until sellers regain confidence, housing inventory will continue to be constrained during what is expected to be an active summer selling season. For the 12-month period spanning July 2019 through June 2020, Pending Sales in the Western Upstate region were up...

Housing Supply Overview Sellers are taking a more cautious approach to entering the housing market, even as buyers are returning in force due to near-record low interest rates. As the country continues to reopen, seller activity is likely to continue to improve however, continued concerns around COVID-19 may keep some reluctant sellers on the sidelines for now. For the 12-month period spanning June 2019 through May 2020, Pending Sales in the Western Upstate region were down 1.0 percent overall. The price range with the largest gain in sales was the $200,001 to $300,000 range, where they increased 13.9 percent. The...