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 October 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

$390,165

$195/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$9,994(+2.6%)

Key Takeaway

Homes in Summerville have sold for 2.6% more than they did a year ago.

Summary: The median home sold price in Summerville was $390,165 in October 2024, up 2.6% from last year, and the median price per square foot was $195.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $213K$205K
-3.8%
2 $350.8K$361.8K
+3.1%
3 $339.9K$345K
+1.5%
4 $395K$411K
+4.1%
5+ $454.7K$469.3K
+3.2%

Summary: Summerville housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 3.8%, 2 bedroom homes increased by 3.1%, 3 bedroom homes increased by 1.5%, 4 bedroom homes increased by 4.1%, and 5+ bedroom homes increased by 3.2%.

Median Sold Price Compared To Nearby Cities

Goose Creek-Hanahan
+5.1%
Summerville
+2.6%
Ladson
+1.6%
North Charleston
+1.1%

Housing Supply in Summerville, SC

How many homes are available in Summerville, SC?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
1,3921,480+6.3%

Summary: The Summerville real estate market had 1,480 homes for sale in October 2024, a 6.3% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 116136
+17.2%
3 559592
+5.9%
4 515539
+4.7%
5+ 202213
+5.4%

Summary: The Summerville housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 17.2%, 3 bedroom homes increased by 5.9%, 4 bedroom homes increased by 4.7%, and 5+ bedroom homes increased by 5.4%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
243271+11.5%

Asking Price vs. Sold Price

133 Homes Were Sold
Under Asking

83 Homes Were Sold
At Asking

55 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. 49.1% of homes here sold below asking price last month.

Summary: A total of 271 homes were sold or pending in Summerville in October 2024, up by 11.5% month-over-month. Of the 271 sold homes, 49% were sold under asking, 31% were sold at asking, and 20% were sold over asking.

Days on Market for Summerville, SC

We’re sorry, we don't have information for this market at the moment

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

Report Updated 20 Days Ago

Newest Listings in Summerville, SC

Nearby Markets to Summerville, SC

What housing markets are near Summerville, SC?