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 – April 2019

April 2019

Prior Year

Current Year

+/-

Average Sales Price

$192,255

$213,778

+11.2%

Median Sales Price

$175,250

$188,108

+7.3%

Inventory of Homes for Sale

1,140

1,078

-5.4%

Days on Market

156

126

-19.2%

Closed Sales

202

217

7.4%

For much of the country, the first quarter of 2019 provided several disruptive weather patterns that contributed to less foot traffic toward potential home sales. Coupled with low affordability, higher prices and an inventory situation in its infancy of recovering from record lows – not to mention several more days of wintry weather in April – slower sales persisted across most residential real estate markets. However, buyers are beginning to return in force this spring. For well-priced homes in desirable locations, competition is fierce.

New Listings were up 14.8 percent to 279. Pending Sales increased 19.7 percent to 255. Inventory shrank 5.4 percent to 1,078 units.

Prices moved higher as Median Sales Price was up 7.3 percent to $188,108. Days on Market decreased 19.2 percent to 126 days. Months Supply of Inventory was down 12.1 percent to 5.1 months, indicating that demand increased relative to supply.

The national unemployment rate dropped to 3.6 percent during April 2019, the lowest level since 1969. A historically low unemployment rate can provide reassurance to wary consumers. But in order for sales to increase on a grand scale, buyers will need more spending power, or sellers will need to reduce prices to land where buyers are most active. Neither situation is likely to occur in 2019, yet inventory is straining to keep pace in the most competitive price ranges.


 
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