Residential sales still down 50 percent, but prices holding steady

Published 3:56 pm Thursday, March 5, 2009

Saluda statistics are only lightly represented as most Saluda sales are reported through the Henderson County Board of Realtors, according to Paul Pullen, president, co-owner and broker-in-charge of Coldwell Banker Town & Country Realtors.

There were 64 residential sales recorded by the Tryon-Polk County Board of Realtors in the local market in the last six months of the year, and 127 for the entire year, about 50% of the sales of 2007.

However, the number of days houses are staying on the market actually decreased by 29 days from the first six months average to an average of 166 days.

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Active residential listings stood about the same during the year, with 329 at June 30 and 322 at Dec. 31.

Sellers have also continued to receive most of their asking price in sales. The percent of the list price that sellers attain at the time of sale has remained constant, with sellers attaining 92% of their asking price at the end of 2008, as compared to 94% at June 30.

The average residential sale price remained constant through the last six months of 2008. At June 30, the average price stood at $271,971. At the end of the year, it was $272,701.

&uot;The average residential sales price in local communities may be somewhat skewed by the limited number of sales,&uot; Pullen said. However, he said in those communities with &uot;a reasonable number of sales,&uot; averages prices were up. Those include Tryon Township, Columbus Township and Upper Greenville County.

Average sales prices were stable in Landrum and Columbus.

&uot;With a look back to pre-recession, in December, 2006, average sales prices are up in Tryon, Tryon Township and down in Columbus, Columbus Township, and the Mill Spring-White Oak Township,&uot; Pullen said. &uot;Prices stayed closed to 2006 levels in Green Creek and Landrum.&uot;

The total dollar volume and the number of residential sales are down 60% compared to pre-recession levels.