Western Upstate Home Sales Statistics through 4th Qtr 2011

Each quarter I pull the numbers from MLS, do the math and create this report for you. The Western Upstate MLS is made up of Anderson, Pickens, & Oconee Counties.

There are currently 3207 homes for sale in the tri-county area, not including mobile homes. The number of homes on the market was -14% (down) verses the previous December. This is good news for home Sellers. As the inventory of homes is sold down, home prices will increase because Buyers will not have as many homes to choose from. Once the home inventory is sold down, we will start to see lots/land start to sell again. Only 77 lots sold in Anderson County in 2011 out of which 14 were waterfront lots. Compare this to when new homes sales were at their peak in 2006. In 2006, 231 lots sold in Anderson County of which 56 were waterfront lots.  Only 33.3% of the number of lots sold in 2011 verses 2006, only 25% of the waterfront lots sold this past year verses 2006, and the price of the waterfront lots was -46.3% (down) verses the average price of the sold lots in 2006.

Below is a chart with the actual numbers which shows the statistics for the waterfront homes and Anderson County homes separately:

Year	Homes Sold through Dec 31, 2011 in Units	Percent change vs previous year	Average Sold Price	Percent change vs. previous year in sold price	Average Days on Market
All Western Upstate Homes through Dec  2011	2571	-5.9%	$169,698	-1.8%	182
All Western Upstate Homes through  Dec 2010	2470	+3.6%	$171,786	+1.3%	155
Anderson Co Homes YTD through Dec 2011	1213	-3.5%	$141,520	+.4%	206
All Western Upstate Waterfront Homes through Dec 2011	307	+7.9%	$427,464	+1.5%	206
All Western Upstate Waterfront Homes through Dec 2010	277	+38.5%	$438,779	-7.1%	188
Anderson Co WF Homes through Dec 2011	96	+7.9%	$272,772	-4.3%	173

Here is the percent of homes selling in each price range in the tri-county area:

Price Range	Percent of Homes Sold
Up to $200,000	75.7 %
$201,000-$275,000	10.2 %
$276,000-$350,000	5.5%
$351,000-$500,000	4.9 %
$501,000-$850,000	2.4%
More than $851,000	1.2 %

This year the percent of homes sold in each price range above $201,000 are increasing and the percentage of homes selling for up to $200,000 is decreasing.  Out of the 32 homes that sold in 2011 for over $851,000 three were in Anderson Co, seven-teen in Oconee Co and twelve in Pickens County. In 2010, only 21 homes closed above $851,000.