December 2023 Market Stats

U.S. existing-home sales rose from a 13-year low, climbing 0.8% from the previous month and breaking a five-month streak in which sales declined, according to the National Association of REALTORS® (NAR). Despite the increase, sales were down 7.3% compared to the same period last year, as affordability challenges continue to hinder prospective buyers. Most of this period’s closed sales went under contract in
October, when mortgage rates were at a two-decade high. With rates having dropped more than a full percentage point since then, existing-home sales may continue to pick up in the months ahead.

• New Listings were up 2.4 percent to 216.
• Pending Sales decreased 6.7 percent to 180.
• Inventory grew 23.9 percent to 907 units.
• Prices moved higher as Median Sales Price was up 10.1 percent to $287,900.
• Days on Market increased 22.4 percent to 71 days.
• Months Supply of Inventory was up 38.5 percent to 3.6 months, indicating that supply increased relative to demand

Read more at https://www.aikenmls.com/market-stats/