York County Real Estate- July Market Update with the Bigach2Follow Team

Experience the Market Insights: Before digging into the detailed recap, we invite you to watch the video presented by the Bigach2Follow team at Keller Williams.

Welcome to our monthly dive into York County, South Carolina's real estate market. If you're considering buying or selling a home in this area, these insights will help you stay informed and make the best decisions.

Average List and Sales Prices

In July, the average list price in York County was $486,000. This represents a 1.3% increase compared to the same month last year. When we look at the average sales price—the actual price homes were sold for—it came in at $465,000. This figure is nearly identical to last July's average and only slightly lower than the previous month.

A noteworthy trend this year is the 4% rise in the average sales price since January 2024, indicating steady growth in property values.

Sellers' Performance

Sellers in York County have been receiving 97% of their original listing price in July, which aligns with the consistent 96-98% range observed throughout the year. This percentage shows that the market remains competitive and sellers are still getting close to their asking prices.

New Listings and Closings

July saw an influx of new listings, with 505 homes added to the market. This is an 11% increase compared to July 2023. Similarly, there were 387 closings, also up 11% from last year.

Despite this increase in activity, it's important to note that the 60% increase in active listings compared to last year only equates to 295 homes. This is still less than the number of homes that closed in July, emphasizing the strong demand in the market.

Inventory Levels

Even with more homes coming onto the market, York County still faces a low supply of inventory. With just 2.3 months of supply, it would take only about two and a half months to sell all available homes if no new properties were listed. A balanced market typically requires 4-6 months of inventory, a level we haven't seen since 2015. This low supply continues to favor sellers, keeping the market competitive.

Days on Market

The average days on market—how long it takes for a home to go under contract—crept back up to 35 days in July, compared to 29 days in June. While this is a slight increase, it still reflects a relatively fast-paced market.

In Conclusion

Despite some slight shifts, York County's real estate market remains strong and dynamic. Whether you're looking to buy or sell, staying on top of these trends is crucial. As we approach the final stretch of 2024, these numbers could play a pivotal role in your next real estate move.

If you want more in-depth information about your home or need guidance on getting started in the real estate market, the Bigach2follow team is here to help. Feel free to reach out—we're ready to assist you in making informed and confident decisions.

*All data provided by the Canopy MLS, Inc.