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October Real Estate Market Update for September 2018 – Lexington, Irmo, Chapin, and West Columbia

Show Me the Market

There is one question REALTORS® hear when they first begin talking to a potential client: What’s happening in the market?

The market changes with the seasons. It changes due to economic crisis (or booms). It might even change simply because a factory closed down. The real question buyers and sellers have about the real estate market is: is it the right time to move?

Below are the key metrics for the real estate market in the greater Columbia area.

New Listings: How many people put their house up for sale?

Pending Sales: How many houses had contracts submitted and accepted?

Closed Sales: How many houses had ‘SOLD’ in their yards?

Median Sales Price: The ‘middle man’ sales price.

Average Sales Price: On average, how much did the homes in this area sell for?

Pct. Of List Price Received: How much of the original asking price are home sellers netting?

Market Breakdown by Area

While the above chart gives us a great view of what is happening across a large market, each area has its own smaller market affected by local happenings.

Lexington and Surrounding Areas (Area 11)

While the new listings and closed listings have significantly decreased compared to September 2017, there are some positives in the Lexington market. Sellers are receiving 99% of their asking price. The days on the market has also decreased slightly, implying buyer demand is still high here. In addition, the median sales price has also increased, hitting $203,000 for Lexington. If you are thinking of selling in the Lexington area, now is a great time.


Irmo/St. Andrews/Ballentine

While Irmo is not as hot of an area as Lexington, it has been in increasing demand over the month of September 2018New listings are down by over 10% over this time last year. But the buyers are still buying here, closed listings going up by almost 12%. The decrease of new listings and the increase of closed listings is leading to less inventory of homes for sale, meaning less options for buyers. If you are thinking of selling in the Irmo area, now is the time to list!

Cayce/West Cola/Airport/South Congaree


In the Cayce/West Columbia/Airport/South Congaree area, new listings are also up compared to this time last year. The closed listings have decreased significantly, almost a quarter of September 2017. The gap has also widened between asking price and selling price. Days on the market is steady in the month of September. Right now is a great time to buy in West Columbia area.


Northeast Lexington County and Chapin


The Northeast Lexington County and Chapin area is slower than we have seen in the past. New listings are half of what they were in 2017. Even closed listings decreased for Chapin in September 2018. Days on the market are up, meaning the houses are sitting on the market longer rather than being snatched up. On the positive side, sellers are still getting over 99% of their asking price. The median sales price in Chapin is also the highest around the area at $246,226.

Credit for statistics is given to EXIT REC Broker-in-Charge, Craig Summerall.

Written by Exit Real Estate Consultants on . Posted in Market Update


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EXIT Real Estate Consultants
5175 Sunset Blvd, Ste 3
Lexington, SC 29072
Phone: 803-707-8595
Fax:  803-358-0889
Email: salliechester@exitrec.com

Client Testimonials

Sallie Chester helped us look for our perfect lake home on and off for four years. She would point out issues with homes that sometimes we did not notice. We never felt pressured by her to buy a home. When we finally found the home we wanted and issues arose, Sallie worked diligently to help resolve them. Whenever we had questions, Sallie was always available to answer them. If anyone asks for a reputable REALTOR, I would urge them to use Sallie Chester. Tricia and Tim G. ~August 2018
Sallie Chester was referred to us, by Carolina One Realty. She is a personable, hardworking REALTOR that shares her faith. Sallie is quite a negotiator with her clients needs in her heart. Burnette and Ken W. ~August 2018
I can truly say Sallie Chester was of great help to us. From the moment we first met Sallie, she was very professional and courteous. She could not have done more to assist us with all our needs. I personally can't thank her enough for all her help. Sandy and Jay J. ~August 2018
Sallie was a great asset while selling our home. She communicated often and provided needed information. Her assistance alleviated much of the stress associated with selling our home of 25 years. Lisa and Mel M. ~July 2018
Moving from out of state can be stressful! Barbara LeRoux did everything she could to make our experience as stress free as possible from beginning to end. She was great about helping with anything we needed prior to our move that we couldn't do ourselves because of our location. We would highly recommend Barb to anyone who wants the best possible real estate experience! Melanie and Bill P. ~May 2018
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