Aiken’s Real Estate Market Report – April

Aiken’s Real Estate Market Report

April 2021

     
286 homes sold in April in the Aiken area at a median price of $236,900. Year-to-date, sales have increased 16.6% with 1,076 homes sold thus far in 2021 compared to 923 at this point last year. Median price is $222,000, a 11.3% increase from this point in 2020, when the median price was $199,450. The average time a property stays on market is 99 days. 

Housing Supply Overview

April was another strong month for home sales across most market
segments. The busy spring market continues to see many multiple offer
situations driving sales prices above asking price. Strong buyer demand
and limited housing supply show no signs of easing soon, pointing to a
continuation of this market trend through spring and into summer. For the
12-month period spanning May 2020 through April 2021, Pending Sales in
the Aiken region were up 22.6 percent overall. The price range with the
largest gain in sales was the $300,001 and Above range, where they
increased 81.6 percent.

You can read the full report here.

Monthly Indicators Report

April was another strong month for home sales. The busy spring market continues to see many multiple offer situations driving sales prices above asking price. With such strong activity, by the time a property sale closes, the market may have already moved higher than that sold price suggests. Such markets can create stress and frustration for prospective homebuyers, who are frequently having to submit offers on multiple properties before they are able to secure a purchase.

• New Listings were up 71.7 percent to 364
• Pending Sales increased 45.6 percent to 345
• Inventory shrank 39.6 percent to 612 units.
• Prices moved higher as Median Sales Price was up 11.8 percent to $236,900
• Days on Market decreased 19.5 percent to 99 days
• Months Supply of Inventory was down 50.0 percent to 2.1 months, indicating that demand increased relative to supply

In the spirit of the great Wayne Gretzky, buyers, sellers, and their agents are all trying their best to skate to where the puck, or rather, the housing market, is going, not where it has been. While housing affordability remains an area to watch as prices continue to rise, strong buyer demand and limited housing supply show no signs of easing soon, pointing to a continuation of this market trend through spring and into summer.

You can read the full report here.

If you’re interested in buying or selling in the Aiken market, we can help. Contact our team for more information today.