Is Waccamaw Neck, SC a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Waccamaw Neck is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Waccamaw Neck has remained a Seller's Market.

Key Takeaway

Waccamaw Neck is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Waccamaw Neck, SC

How much do homes in Waccamaw Neck, SC cost?

Median Sold Price

$537,691

$268/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$85,227(+18.8%)

Key Takeaway

Homes in Waccamaw Neck have sold for 18.8% more than they did a year ago.

Summary: The median home sold price in Waccamaw Neck was $537,691 in May 2024, up 18.8% from last year, and the median price per square foot was $268.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $222K$332.5K
+49.8%
2 $273K$308.2K
+12.9%
3 $405K$470.1K
+16.1%
4 $658.2K$742.4K
+12.8%
5+ $951.2K$1.4M
+53.5%

Summary: Waccamaw Neck housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 49.8%, 2 bedroom homes increased by 12.9%, 3 bedroom homes increased by 16.1%, 4 bedroom homes increased by 12.8%, and 5+ bedroom homes increased by 53.5%.

Median Sold Price Compared To Nearby Cities

Pawleys Island
+20.7%
Waccamaw Neck
+18.8%
Murrells Inlet
0.3%

Housing Supply in Waccamaw Neck, SC

How many homes are available in Waccamaw Neck, SC?

Number of Homes For Sale

Apr 2024May 2024CHANGE
445465+4.5%

Summary: The Waccamaw Neck real estate market had 465 homes for sale in May 2024, a 4.5% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 1514
-6.7%
2 7481
+9.5%
3 200208
+4.0%
4 108109
+0.9%
5+ 4853
+10.4%

Summary: The Waccamaw Neck housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 6.7%, 2 bedroom homes increased by 9.5%, 3 bedroom homes increased by 4%, 4 bedroom homes increased by 0.9%, and 5+ bedroom homes increased by 10.4%.

Number of Homes Sold

Apr 2024May 2024CHANGE
7285+18.1%

Asking Price vs. Sold Price

70 Homes Were Sold
Under Asking

11 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Waccamaw Neck, you may be able to get a good deal. 82.4% of homes here sold below asking price last month.

Summary: A total of 85 homes were sold or pending in Waccamaw Neck in May 2024, up by 18.1% month-over-month. Of the 85 sold homes, 82% were sold under asking, 13% were sold at asking, and 5% were sold over asking.

Days on Market for Waccamaw Neck, SC

How long does it take to sell a home in Waccamaw Neck, SC?

Average Sale Time

May 2023May 2024CHANGE
90 Days115 Days+28.5%

Summary: Homes in Waccamaw Neck had an average of 115 days on market in May 2024, up by 28.5% compared to last year.

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

38 Homes Were Sold
In 30 - 90 Days

43 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Most homes in Waccamaw Neck are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During May 2024, 85 homes were sold in Waccamaw Neck; 5% of homes were sold within 30 days, 45% of homes were sold within 30 to 90 days, and 51% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 8 Days Ago

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