Local real estate officials said last week that May's lackluster home sales increase was partly the result of a decline in inventory.
Within that metric are varying levels of supply, depending on price and the type of residence.
A total of 6,113 homes that were listed for sale May 31 were classified as "active" in the Charleston Trident Multiple Listing Service. That's down 4.6 percent from a year ago.
The figure included 4,985 single-family homes, down 4.2 percent, or 221 fewer than in May 2013.
But a slightly larger decrease was in the condominium segment, which has been putting up strong sales numbers in the last several months. A total of 1,128 condos were for sale at the end of May, down 6 percent from the same month in 2013.
May's data also showed that homes in the most affordable price range are in high demand. The $100,000-and-below market has been losing the largest chunks of inventory in both single-family and multifamily dwellings.
For example, 487 homes were available at or below that threshold at the close of last month, or 30 percent fewer than a year ago. The number of condos at that price point declined at an even faster pace, by 35.1 percent to 225.
The market for condo buyers is more favorable in the $100,001 to $150,000 range. That price point had 212 listings at the end of last month, up 17.8 percent from May 2013.
The S.C. Department of Consumer Affairs is marking Homeownership Month by providing consumers with daily tips with its Twitter and Facebook pages.
Also, the state agency is holding a webinar on housing and credit repair scams this week. The free 45-minute session is open to the public. "Be Smart, Build Smart, Buy Smart" starts at 11 a.m. Tuesday.
Go to http://ow.ly/xQVCI to register.
Reach Tyrone Richardson at 937-5550.
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