Let’s take a quick look at the latest real estate trends for our market.
It’s time to take a quick look at our local real estate numbers so that we know exactly what’s going on in our neck of the woods these days. Here are some of the most important numbers to know here in the western upstate of South Carolina.
First, let’s look at new listings year over year since 2019:
- September 2019: 611
- September 2020: 630
- September 2021: 591
Year to date, we’ve seen new listings drop slightly from 6,200 to 5,800.
As far as pending sales goes, they have increased from 491 in September 2019, to 573 in September 2020, to 337 in September 2021. Year to date, pending sales have increased from 4,663 all the way up to 5,024 before dropping down to 4,882.
“Properties are going under contract very quickly these days.”
Closed sales tell the biggest story. Between 2019 and 2021, closed sales increased from 4,300 to 4,900 in the western upstate area.
The average days on market has almost halved from 82 to 44 in the last couple of years. Properties are going under contract quickly these days.
The average price has increased by 14.9% from this time last year, and the percentage of list price that the average seller gets has risen from 96.9% to 99.6%. Finally, the months’ supply is at 2.2 months. Anything under six months is considered a seller’s market.
This is a fantastic market to sell a home in. Probably the best I’ve ever seen. If you’re buying, you can still take advantage of low interest rates, but you need to be prepared to beat out the competition.
If you have questions about these numbers or anything else related to real estate, don’t hesitate to reach out via phone or email. We look forward to hearing from you soon.