"Price reductions swept through Columbia's housing market in the week ending Nov. 7, with 47.7% of active single-family listings showing reduced asking prices. The South Carolina metro's shift toward neutral market conditions, with 3.0 months of supply, signals a rebalancing that opens doors for buyers who have been waiting for better opportunities. The Columbia metro recorded 2,749 active single-family homes for sale, with sellers adjusting expectations as market dynamics evolve."
"Weekly market activity demonstrated equilibrium between supply and demand. The metro absorbed 229 homes while adding 213 new listings during the week. This near-balance in inventory flow contributed to the 3.0 months of supply, placing the market squarely in neutral territory. Properties spent a median of 63 days on market before going under contract. The 7.6% relisted rate remained within normal ranges, while only 1.7% of sellers increased their asking prices during the week."
Nearly half (47.7%) of active single-family listings in Columbia showed price reductions, as sellers adjust expectations amid shifting market dynamics. The metro had 2,749 active single-family homes, absorbed 229 homes and added 213 new listings during the week, yielding 3.0 months of supply and neutral market conditions. The median list price stayed at $315,000, with price per square foot at $156.2, both below state and national medians. Properties spent a median of 63 days on market, faster than the state (70 days) and national (77 days) medians. Relisted rate was 7.6% and only 1.7% of sellers increased prices.
Read at www.housingwire.com
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