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Additional inventory slightly cools Pee Dee real estate market

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FLORENCE, S.C. – The Pee Dee real estate market may have slightly cooled off in June.

The latest data from the Pee Dee Realtor Association indicates that the average sales price has declined from $213,725 in May to $210,922 in June.

The monthly data from the Pee Dee Realtor Association includes data from Florence, Darlington, Marion, Williamsburg, Dillon, Marlboro and Chesterfield counties.

The numbers provided by the realtor association suggest that more homes have come on the market, adding more inventory and thus, slowing the market down.

The association’s data indicates the number of new listings has increased from 268 homes in May to 301 homes in June, the number of pending sales has increased from 43 in May to 56 in June, the number of closed sales has increased from 214 in May to 284 in June, the number of days a home sits on the market has increased from 86 days to 97 days, the percentage of list price received has decreased from 98.2% in May to 97.6% in June and housing affordability index has increased from 125 in May to 135 in June.

Even still, the June 2021 real estate market shows significant growth from June 2020.

The association’s data indicates that the number of new listings has increased by 9.1%, the number of pending sales has decreased by 80.5%, the number of closed sales has increased by 18.3%, the number of days on the market has decreased from 128 to 97, the average sales price has increased by 18.5%, and the housing affordability index has decreased by 7.5%.

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