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South Carolina real estate best since 2009

South Carolina's real estate market has been improving over the last few years, and the new annual market report says lots about the local economy and home sales. The 2015 report claims that South Carolina has had its best year since the end of the recession in 2009; that's good news for homeowners who want to sell their homes for more and for those who want to move into populated, bustling areas.

Real estate sales are up in the state by around 11.5 percent, and fewer homes were on the market than in 2014 with only 33,731 open for purchase. If you're trying to sell your home with your attorney and realtor's assistance, you may be glad to know that the median sales price has also improved by around six percent. Now, homes in the state average a $172,000 sale price. That's the highest sale price median since 2005, so that could mean you get more money out of your home if you sell.

Hilton Head was the area with the second highest change in pending sales. It had an increase in pending sales of 19.2 percent, and the number of homes for sale went down 7.2 percent from the 2014 numbers.

If you're looking to buy or sell in the state, the healthy economy means you're likely to find a good property with some searching or find a buyer with less of a struggle than in the past. A solid economy also means fewer foreclosures and short sales, since homes are worth their mortgage prices more often and can be sold for homeowners to get out of debt.

Source: Island Packet, "SC Realtors releases 2015 annual market report," Feb. 10, 2016

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