York County remained a home seller’s market in the second quarter of 2020 with inventory and months supply of homes more than half of what it was in the same quarter in 2019. Lack of inventory, coupled with buyer demand exceeding supply, increased home prices in the second quarter and reduced the cumulative days on market. Lack of inventory also contributed to a decrease in closed sales.
Latest news on the York County, South Carolina real estate market and what it means for you…
During the second quarter of 2020, York County experienced a drop of more than 50% in both inventory and months supply of homes compared with the same time frame one year ago. Days on market were 36 days, down 16.4%, while cumulative days on market dropped 21.3% to 42 days. Closed sales decreased 14.5% year-over-year, no doubt to a great extent due to the lack of housing inventory. Both the average and median sale prices of homes increased in York County year-over-year.
Want to know what this would mean for your family if you decide to buy or sell a home in the Charlotte region?