Is Summerville, SC a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Summerville is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

Housing Prices in Summerville, SC

How much do homes in Summerville, SC cost?

Median Sold Price

$385,057

$193/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$572(+0.1%)

Key Takeaway

The sold price of homes in Summerville has remained the same since last year.

Summary: The median home sold price in Summerville was $385,057 in May 2024, up 0.1% from last year, and the median price per square foot was $193.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $203.2K$202.4K
-0.4%
2 $336.2K$348.4K
+3.6%
3 $339.9K$342.5K
+0.8%
4 $395.3K$407K
+3.0%
5+ $454.3K$460.1K
+1.3%

Summary: Summerville housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 0.4%, 2 bedroom homes increased by 3.6%, 3 bedroom homes increased by 0.8%, 4 bedroom homes increased by 3%, and 5+ bedroom homes increased by 1.3%.

Median Sold Price Compared To Nearby Cities

North Charleston
+3.1%
Ladson
+3.0%
Goose Creek-Hanahan
0.3%
Summerville
0.1%

Housing Supply in Summerville, SC

How many homes are available in Summerville, SC?

Number of Homes For Sale

Apr 2024May 2024CHANGE
1,5231,627+6.8%

Summary: The Summerville real estate market had 1,627 homes for sale in May 2024, a 6.8% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 10
-100.0%
2 127128
+0.8%
3 603644
+6.8%
4 553610
+10.3%
5+ 239245
+2.5%

Summary: The Summerville housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 0.8%, 3 bedroom homes increased by 6.8%, 4 bedroom homes increased by 10.3%, and 5+ bedroom homes increased by 2.5%.

Number of Homes Sold

Apr 2024May 2024CHANGE
349347-0.6%

Asking Price vs. Sold Price

151 Homes Were Sold
Under Asking

124 Homes Were Sold
At Asking

72 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Summerville, you may be able to get a good deal. 43.5% of homes here sold below asking price last month.

Summary: A total of 347 homes were sold or pending in Summerville in May 2024, down by 0.6% month-over-month. Of the 347 sold homes, 44% were sold under asking, 36% were sold at asking, and 21% were sold over asking.

Days on Market for Summerville, SC

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

Average Sale Time

May 2023May 2024CHANGE
2 Days41 Days+1283.1%

Summary: Homes in Summerville had an average of 41 days on market in May 2024, up by 1283.1% compared to last year.

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Summerville has remained consistent over time.

Summary: During May 2024, 347 homes were sold in Summerville; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% 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 1 Day Ago

Newest Listings in Summerville, SC

Nearby Markets to Summerville, SC

What housing markets are near Summerville, SC?