August 2019 Rock Hill Real Estate Market Update
As we head into fall, opposing factors and trends continue to influence the direction of the Real Estate market. The interest rate reduction from earlier this summer has not spiked sales the way one would have thought that it might have. Prices have risen and the supply of houses has dropped. In particular, the supply of affordable houses has dropped and there are not enough homes that first-time home buyers, who want to buy, can afford. The Rock Hill area, in general, is more affordable than other areas in greater Charlotte, which makes it very attractive to buyers.
Here are the numbers for August 2019, Rock Hill/Charlotte Region:
New Listings - 5,621 (down -1.4%)
Rending Sales - 5,096 (up 18.6%
Closed Sales - 4735 (down 2.9%)
Days On Market - 38 ( same 0%)
Median Sales Price - $257,850 (up 5.2%)
Percent of Asking Price Received 96.9% (up 0.1%)
Months Supply of Inventory 2.3 (down -17.9%)
Demand is strong and there are more buyers in the market than houses on the market. New listings are down, prices are higher and houses are selling quickly. As you can see, the supply of Inventory is very low, making it firmly a seller’s market. If you are a seller looking to sell your home, this is a great market in which to do that. For more information on key indicators of a healthy housing market, click here.
Give us a call at Jeff Cook Real Estate-Rock Hill for an accurate estimate of your house’s value in this market. If you are looking to buy, reach out to us for help finding a house. We can give you referrals for financing to purchase and are experts at negotiating. Call us today at 855-Hey-Jeff.
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