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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Gaffney is a buyer's market

Buyer's
Market

Difference Since October 2023

At the same time last year, Gaffney was a Seller's Market.

Key Takeaway

Gaffney is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Gaffney, SC

How much do homes in Gaffney, SC cost?

Median Sold Price

$224,990

$143/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$14,990(+7.1%)

Key Takeaway

Homes in Gaffney have sold for 7.1% more than they did a year ago.

Summary: The median home sold price in Gaffney was $224,990 in October 2024, up 7.1% from last year, and the median price per square foot was $143.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 -$23.5K
N/A
2 $122.5K$160.5K
+31.0%
3 $217.6K$220.5K
+1.3%
4 $299.9K$260K
-13.3%
5+ $329.5K$369K
+12.0%

Summary: Gaffney housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 31%, 3 bedroom homes increased by 1.3%, 4 bedroom homes decreased by 13.3%, and 5+ bedroom homes increased by 12%.

Housing Supply in Gaffney, SC

How many homes are available in Gaffney, SC?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
1661660.0%

Summary: The Gaffney real estate market had 166 homes for sale in October 2024, the same as September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 23
+50.0%
2 2020
0.0%
3 93100
+7.5%
4 3527
-22.9%
5+ 1616
0.0%

Summary: The Gaffney housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes remained the same, 3 bedroom homes increased by 7.5%, 4 bedroom homes decreased by 22.9%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
2220-9.1%

Asking Price vs. Sold Price

10 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

5 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Gaffney, you may be able to get a good deal. 55.6% of homes here sold below asking price last month.

Summary: A total of 20 homes were sold or pending in Gaffney in October 2024, down by 9.1% month-over-month. Of the 18 sold homes, 56% were sold under asking, 17% were sold at asking, and 28% were sold over asking.

Days on Market for Gaffney, SC

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

Average Sale Time

Oct 2023Oct 2024CHANGE
14 Days39 Days+163.4%

Summary: Homes in Gaffney had an average of 39 days on market in Oct 2024, up by 163.4% compared to last year.

Breakdown of Home Sale Times

10 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Gaffney are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 20 homes were sold in Gaffney; 50% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 10% 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 17 Days Ago

Newest Listings in Gaffney, SC

Nearby Markets to Gaffney, SC