Anderson County SC Real Estate Market Report October 26 2014

13 Homes Sold in Anderson County

There were 10 homes in Anderson, 1 in Honea Path, 1 in Townville and 1 in Williamston reported as sold this week.

11 single family home and 2 mobile homes were reported as sold this week in Anderson County.

The average price of the homes reported sold this week was $126,292.

The median price of the homes reported sold this week was $113,000.

The average days on market was 62.

Remember this is for only 1 week and 13 homes!

Because these statistics are for only one week and all of Anderson County, it may not tell you what is possible for a specific home.

This is only the basics of what happened last week in Anderson County real estate.

 

Least Expensive Home Reported Sold in Anderson County

The least expensive home reported sold this week was a 1580 SF 4 bedroom 2 bath mobile home on 0.78 acres in Anderson. It sold for $11,000 CASH after being on the market for 54 days. Originally hit the market at $19,900.

Located in the 29626 Zip Code and the Crescent High, Starr-Iva Middle and Starr Elementary school district per MLS info.

Sold As-IS, no heat or air and the listing says it needs work. Also no pictures of the interior so it must really be bad. Not a foreclosure according to the listing.

Remember, if a home sells for less than many people paid for their car, it is probably NOT that nice a home. Or it has serious condition issues. Or it is in a location that many buyers are not interested in. Or it could be any combination of the three negatives I listed…

 

Most Expensive Home Reported Sold in Anderson County

The most expensive home reported sold this week was a 3501 SF 4 bedroom 4 bath house on 0.64 acres in Anderson. It sold for $465,000 after being on the market for 83 days if I combine both of the consecutive listings with the same agent/company. Originally hit the market at $574,900.

Located in the 29626 Zip Code and the Westside High, Robert Anderson Middle and McLees school district per MLS info.

Waterfront Hartwell Lake home with covered dock in place. Being sold to settle estate. Fresh paint inside and the decks have been painted and stained. 2 story foyer. Additional 2068 SF of unfinished space that only needs drywall and “finishing touches” ( whatever the freak that means ). Master suite on the main has walk in closet, jetted tub, granite counter tops, tile shower. Great room with fireplace. Concrete path to the dock. 2 car attached garage plus detached carport for RV or boat.

 

  Sold Deal of the Week in Anderson County

In my opinion, the best deal of the homes sold this week was a brick 2228 SF 4 bedroom 3 bath house on less than 0.49 acres in Williamston. It sold for $89,870 after being on the market for 187 days. Originally hit the market at $120,000.

Located in the 29697 Zip Code and the Palmetto High, Palmetto Middle and Palmetto Elementary school district per MLS info.

Foreclosure. Needs work but I think the real reason it took so long to sell is the method the bank selected for selling the home. For some reason, some banks think that using one of the various online auction websites is a better option. I would point to the 187 days and say they are wrong.

Anyway, if you are realistic about the work the home needs, and can overlook some hideous wall paper to see the potential, then this could be a great deal. I would not be surprised to see this home hit the market in about 90 to 180 days after it has been rehabbed.

 

Foreclosures and Short Sales in Anderson County

2 of the homes reported sold this past week were foreclosures.

None of the homes reported sold was a short sale.

Today there are 82 foreclosed homes for sale in Anderson County.

Today there are 24 homes listed as a short sale in Anderson County.

 

Inventory and Absorption Rate in Anderson County

Today there are 1476 homes for sale in Anderson County.

  If homes in Anderson County continue to sell at the same pace and no more homes hit the market, it will take 794 days to sell all the available homes. This statistic is for all homes in Anderson County and based only on this week’s activity. Most people consider a housing market healthy if there is less than 6 months of inventory.

Depending on the home/location/price range, this may not tell you what is possible or realistic for a specific home! It could be better or worse!

 

New Listings in Anderson County

There were 69 new listings to hit the MLS this week in Anderson County.

  This Week’s Hot New Listing in Anderson County

The best deal in my opinion of this week’s new listings is a brick 3372 SF 4 bedroom 2 bath house on 0.55 acres in the city limits of Iva. Hit the market at $94,900.

Located in the 29655 Zip Code and the Crescent High, Starr-Iva Middle and Iva Elementary school district.

Foreclosure. Needs work and updating. Still this is a big home for the money. Wooded corner lot. Fireplace. 2 car attached carport. Be realistic and ready to roll up your sleeves…

 

Looking Forward

19 homes were reported as going Under Contract (Pending) this week.

Currently there are 225 homes in the MLS with an Under Contract (Pending) status.

 

The Fine Print:

This report covers what happened for the week ending October 26 2014 based on information from the Western Upstate Multiple Listing Service for the period October 19 2014 through October 26 2014. As always there may have been more closings but the agent has not turned in the closing sheet to the WUAR MLS yet. All this data is from the Western Upstate Association of REALTORS® Multiple Listing Service.

Any snarky or sarcastic comments are from your truly…

Mortgage Rate Update October 18 2014

Freddie Mac mortgage rate chart october 16 2014

It has been way too long since we looked at the average mortgage rates. Lets look at the average mortgage rates reported by Freddie Mac, the MBA and Bankrate.com Freddie Mac Reported: 30 year fixed rate mortgages averaged 3.97% with an average … [Continue reading]