The above video shows us a quick overview of the market, but let's dive deeper with this comprehensive look at the MAY 2023 real estate market in York County, South Carolina.
New Listings
We start by looking at the NEW LISTINGS that came on the market in MAY, and we begin with 2021, where we see there were 485 NEW LISTINGS that came on the market. In MAY of 2022, we found we increased by +3.1 percent with 500 NEW LISTINGS. This year in MAY, we decreased by -20.2 percent with 399 NEW LISTINGS. This was a decrease from 2022 AND 2021.
Homes for Sale
We, again, start by looking at MAY 2021, where we see there were 254 HOMES FOR SALE. In MAY of 2022, we find an increase of +33.1 percent with 338 HOMES FOR SALE. This year in MAY, we decreased by -0.6 percent with 336 HOMES FOR SALE.
Pending Sales
Let's view MAY of 2021, where we see there were 441 PENDING SALES. In 2022, we decreased by -9.8 percent with 398 PENDING SALES. This year we decreased by -13.3 percent with 345 PENDING SALES.
Average Days on Market
Let's view MAY of 2021, where we see there were 12 AVERAGE DAYS ON MARKET. In 2022, we held even with the previous year by, again, 12 Average Days on the Market. This year we increased by +141.7 percent with 29 Average Days on the Market.
Months Supply of Homes for Sale:
In MAY of 2021, the MONTHS SUPPLY OF HOMES FOR SALE was 0.6 months. In 2022 we increased by +50.0 percent from the previous year with a 0.9 MONTH SUPPLY OF HOMES FOR SALE. This year we increased from the previous year by +22.2 percent with a 1.1 MONTHS SUPPLY OF HOMES FOR SALE. This statistic is the ratio of new houses for sale to new houses sold. In other words, it would take 1.1 months for the current inventory of homes on the market to sell, given the current sales pace.
Average Showings to Pending
In MAY of 2021, the Average Showings to Pending were 16. In 2022 we decreased from the previous year by -25.0 percent, with 12 showings to pending. This year we held even with the previous year staying with the 12 showings to pending.
So here is your comprehensive LOCAL look at the real estate market. If you are considering selling your home this year, pricing your home correctly will make a world of difference, and we'd like to help you with that. Contact The Linda Hall Team of Century 21 First Choice. Let's reach your real estate goals in 2023!