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 – February 2020

February 2020

Prior Year

Current Year

+/-

Average Sales Price

$172,110

$222,494

+29.3%

Median Sales Price

$163,000

$185,000

+13.5%

Inventory of Homes for Sale

1,076

1,004

-6.7%

Days on Market

140

139

-0.7%

Closed Sales

193

194

+0.5%

 

As we progressed through February, the actual and expected impacts of COVID-19 continued to grow, with concerns of economic impact reaching the stock market in the last week of the month. As the stock market declined, so did mortgage rates, offering a bad news-good news situation. While short term declines in the stock market can sting, borrowers who lock in today’s low rates will benefit significantly in the long term.

New Listings were up 6.5 percent to 296. Pending Sales increased 30.6 percent to 269. Inventory shrank 6.7 percent to 1,004 units.

Prices moved higher as Median Sales Price was up 13.5 percent to $185,000. Days on Market decreased 0.7 percent to 139 days, the twelfth consecutive month of year over-year declines. Months Supply of Inventory was down 20.8 percent to 4.2 months, the twelfth consecutive month of year-over-year declines.

The recently released January ShowingTime Showing Index® saw a 20.2 percent year-over-year increase in showing traffic nationwide. All regions of the country were up double digits from the year before, with the Midwest Region up 15.7 percent and the West Region up 34.1 percent. As showing activity is a leading indicator for future home sales, the 2020 housing market is off to a strong start, though it will be important to watch the spread of COVID-19 and its potential impacts to the overall economy in the coming months.

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