Columbia, SC home prices and housing market

More than one in five home sellers in Columbia has already cut their asking price, and that tells you where this market is leaning. The typical home is worth about two hundred thirty-eight thousand dollars, up around 2.3 percent over the past year, so values are still inching up. But the median asking price sits near two hundred fifty-eight thousand dollars, roughly twenty thousand above that typical value, and nearly 22 percent of listings have taken a cut to close that gap. Meanwhile buyers have room to shop. There are just over a thousand homes for sale, with about 520 new listings coming on, and homes are taking forty-two days to sell. That combination, a wide gap between asking prices and actual values, plenty of choice, and a six-week selling pace, gives buyers real negotiating power. If you are selling, the homes that move are the ones priced at the market from day one. Aim high in Columbia right now and you will likely end up in the one in five making a cut.