January 2024 Market Stats

U.S. existing-home sales slipped 1.0% month-over-month and were down 6.2% year-over-year as of last measure, while pending sales jumped 8.3% from the previous month, marking the largest gain since June 2020, according to the National Association of REALTORS® (NAR). Mortgage rates have dropped significantly from their peak last fall, and homebuyers are beginning to come out of the woodwork, with NAR forecasting a 13% increase in existing-home sales this year compared to 2023.

• New Listings were up 23.4 percent to 327.
• Pending Sales increased 17.1 percent to 247.
• Inventory grew 27.7 percent to 940 units.
• Prices moved higher as Median Sales Price was up 2.3 percent to $269,443.
• Days on Market increased 20.4 percent to 65 days. Months Supply of Inventory was up 32.1 percent to 3.7 months, indicating that supply increased relative to demand.

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