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September 2024

 

204 homes sold in September in the Aiken region at a median price of $279,990. Year-to-date, sales volume has increased 9.1% with 2,572 homes sold thus far in 2024 compared to 2,358 at this point last year. YTD Median price is $289,900 a 5.4% increase from this point in 2023, when the median price was $275,000. 
 
Inventory data shows 8.1% more homes for sale than the same period last year, with 1,089 homes listed as “active” for sale in Aiken at the end of September—representing  4 months of available inventory.

 

This data reflects residential sales from Aiken MLS Sept 1-30, 2024.

 
 
 

Housing Supply Overview 

 

U.S. sales of new residential homes fell 4.7% month-over-month to a seasonally adjusted annual rate of 716,000 units, but were up 9.8% year-over-year, according to the U.S. Census Bureau. Economists polled by Reuters had forecast new home sales to come in at 700,000 units for the month. Sales prices were also down as of last measure, with the median sales price of new homes coming in at $420,600 for the month, a 4.6% decline from the same period last year. For the 12-month period spanning October 2023 through September 2024, Pending Sales in the Aiken Association of REALTORS® region improved 8.6 percent overall. The price range with the largest pending sales gain was the $350,001 to $500,000 range, where sales were up 24.7 percent.


The overall Median Sales Price rose 4.9 percent to $287,500. The property type with the largest gain was the Single-Family Homes segment, where prices improved 4.9 percent to $294,900. The price range that tended to sell the quickest was the $150,000 and Below range at 82 days. The price range that tended to sell the slowest was the $1,000,001 and Above range at 128 days.


Market-wide, inventory levels increased 15.2 percent. The property type with the largest gain was the Condos segment, where the number of properties for sale were up 84.1 percent. That amounts to 3.8 months of inventory for Single-Family Homes and 6.1 months of inventory for Condos.

 

Read the full report here.
 

Monthly Indicators Report

 

U.S. existing-home sales slid 2.5% month-over-month and 4.2% year-over-year to a seasonally adjusted annual rate of 3.86 million units, according to the National Association of REALTORS® (NAR). Meanwhile, home prices have continued to reach record heights nationwide, with NAR reporting a median sales price of $416,700 as of last measure, a 3.1% increase from the same time last year and a new high for the month.

  • New Listings were down 5.8 percent to 307.
  • Pending Sales increased 3.2 percent to 223.
  • Inventory grew 15.2 percent to 1,089 units.
  • Prices moved higher as Median Sales Price was up 2.1 percent to $279,990.
  • Days on Market increased 16.0 percent to 109 days.
  • Months Supply of Inventory was up 8.1 percent to 4.0 months, indicating that supply increased relative to demand.

Amid slower home sales, inventory has continued to grow across the country. According to NAR, there were 1.35 million units for sale heading into September, a 0.7% increase from the previous month and a 22.7% jump from the same time last year. And while monthly existing-home sales were lower than expected this period, NAR Chief Economist Lawrence Yun believes that the rise in inventory, along with lower mortgage rates, should help sales improve in the months ahead.

 

Read the full report here.

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