Lake Keowee Market Update - April 2024 - Living at Lake Keowee SC

Dated: April 2 2024

Views: 180

This report covers Lake Keowee single family homes to include waterfront and off water properties. The report covers activity for March 2024.

The median sales price is down 20.9% from last March to $1,440,000.

The number of New listings taken is down 28.1%

The number of pending sales is down 22.2%

There were 18 homes closed. That is up 50% from March 2023

The average days on the market sits at 86 days, up 6.2%

The average percent of list price is 97.5%. Flat year over year

The average number of showing before a home goes under contract is 11.2.

That number is down 26.3% year over year.

The Bottom Line: We currently have 3.9 months of inventory of waterfront and off waterhomes around Lake Keowee. The inventory levels and the sold to list ratio still point toward a "sellers market".  The number of pending sales is down and the average days on the market is also up. 

Homeowner's that price their home correctly will sell their home quickly, but those that test or overprice their homes will see them sit on the market longer than the average DOM. Buyers are able to negotiate a bit, but must know a well priced home when they see it and be ready to make an offer. 

Going forward it doesn't look like we will be seeing the 4 to 6 rates cuts this year. This is due mainly to the out of control spending in Washington DC. 

If and when we do see rates drop into the 5% to 6% range their will be another buyer frenzie and the low inventory we see now will drop even futher, causing prices to sky rocket. 

If you're thinking of selling your home or planning a discovery tour of the area, give me a call, shoot me a text or drop me an email. 

Eric Stegall - Broker/Realtor - 864-903-5719

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Eric S. Stegall

I have over two decades of proven experience helping families buy and sell property on Lake Keowee. I have accomplished this by being a trusted advisor to my clients and always putting their best inte....

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