There were 4,042 pending home sales during January, which was a 19.7 percent decline compared to the same point in 2011. However, new listings dropped to 8,427 in January, which was a 4.1 percent decline year-over-year, according to the report. Inventory also declined considerably compared to January 2011, for a total 15.2 percent drop to 47,916.

"All in all, January’s numbers look to start off the year on the right foot with a healthy four percent gain over January 2011," said Nick Kremydas, chief executive officer of South Carolina Realtors.

The median home sales price for the Palmetto State was $145,000, which was an increase of 3.4 percent year-over-year, the report noted. In addition, consumers may be getting a mortgage at a faster rate, with the number of days on the market for a home declining 0.6 percent to 143 days.

The report added that the inventory supply in terms of months declined 16.9 percent to 11.7 months.

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