Contact Information
Aiken Board of Realtors and MLS
1069 Silver Bluff Road
Aiken, SC 29803
Office: 803-648-1891
(F): 803-642-6044

 

Market Statistics – July 2017

July 2017

Prior Year

Current Year

+/-

Average Sales Price

$191,758

$191,000

-0.4%

Median Sales Price

166,000

160,050

-3.6%

Inventory of Homes for Sale

1,433

1,248

-12.9%

Days on Market

147

155

+5.4%

Closed Sales

217

200

-7.8%

 

How long can the residential real estate market go on like this? We are about two years into a national trend of dropping housing supply and increasing median sales prices. There are some regional variations to the story, but the shift to a predominantly seller's market is mostly complete. Multiple-offer situations over asking price are commonplace in many communities, and good homes are routinely off the market after a single day. It is evident that a favorable economy keeps hungry buyers in the chase.

New Listings were up 2.7 percent to 268. Pending Sales increased 46.2 percent to 228. Inventory shrank 12.9 percent to 1,248 units.

Prices were still soft as Median Sales Price was down 3.6 percent to $160,050. Days on Market increased 5.4 percent to 155 days. Months Supply of Inventory was down 21.7 percent to 6.5 months, indicating that demand increased relative to supply.

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