Welcome to May's Market Report for York County, South Carolina by The Linda Hall Team of Century 21 First Choice. Stay current with the latest happenings, valuable insights, and comprehensive analysis of the local real estate market. Our goal is to empower you with the information you need to navigate these dynamic market conditions confidently. Whether you're a motivated buyer, a savvy seller, or simply a market observer, we are committed to keeping you well-informed on your real estate journey. Let's dive into the key factors that shaped the May 2024 market trends for York County.
New Listings in May 2024:
To gain a complete overview, let's analyze the data from 2022. During that period, the market witnessed a total of 500 new listings. In May 2023, there was a 20.2 percent decline, resulting in only 399 new listings. However, May 2024 experienced a slight rebound, with a 1.3 percent increase, bringing the total fresh listings to 404.
Homes for Sale in May 2024:
Now, let's focus on the available homes for sale in May 2022, which numbered 338. In May 2023, we observed a 13.3 percent growth, reaching a total of 383 homes for sale. This year, in May, we saw an even more substantial increase of 46.5 percent, resulting in 561 homes available for prospective buyers.
Pending Sales in May 2024:
Shifting our attention to pending sales, May 2022 recorded 397 pending sales. In May 2023, a decrease of 22.2 percent occurred, bringing the count to 309 pending sales. However, this year, in May, a positive trajectory resumed, showing a 1.9 percent increase with 315 pending sales.
Median Days on Market in May 2024:
Let's examine the median days on the market for May 2022, which stood at 4 days. In May 2023, we saw a large increase with the median days reaching 9. Continuing this trend, the figure elevated by 22.2 percent this year, resulting in a median of 11 days on the market.
Months Supply of Homes for Sale in May 2024:
Moving on to May 2022, the months supply of homes for sale was 0.9. By May 2023, the supply increased by 44.4 percent, reaching a 1.3 months supply. This year, the upward trend persisted, with a 61.5 percent increase, resulting in a 2.1 months supply of homes available for potential buyers.
In conclusion, this is an extensive local analysis of the real estate market in York County, South Carolina. If you're considering selling your home, now is a favorable time due to reduced competition and shorter-than-average time on the market. On the other hand, if you're looking to buy a home, The Linda Hall Team is here to provide you with a competitive advantage. Reach out to us for our expertise and support.