Lake Keowee Housing Market Update - May 2024 - Moving to Lake Keowee, SC

Dated: May 7 2024

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

What's the Bottom Line? 

At Lake Keowee, the real estate market in April 2024 displayed notable dynamics. The median home price surged to $1,702,500, marking a significant 9.8% increase compared to April 2023. This spike reflects a robust demand for properties in the area. Additionally, the month saw a rise in new listings, with 20 properties hitting the market—an uptick of 17.6%, indicating a growing interest among sellers.

However, despite the surge in new listings, the number of homes pending sale decreased by 31.6%, suggesting a potential slowdown in buyer activity or a shift in market conditions. Conversely, the number of homes sold in April soared by 23.1%, highlighting sustained buyer interest and market resilience.

Interestingly, while there was a notable increase in homes sold, the average days on the market rose to 56 days, indicating a slightly prolonged selling period compared to the previous year. This shift may be attributed to various factors such as changing buyer preferences or adjustments in pricing strategies.

Despite the increase in days on the market, the average list to sold ratio remained steady at 96.7%, indicating relative stability in pricing negotiations between buyers and sellers. Additionally, the average number of showings before a home goes under contract decreased year over year for April by 8.1%, suggesting a more efficient market in terms of buyer decision-making.

Overall, the Lake Keowee real estate market in April 2024 exhibited a blend of positive and cautionary trends, with rising prices and sales countered by a slight slowdown in pending transactions and a lengthier time on the market. These dynamics underscore the importance of adaptability and strategic decision-making for both buyers and sellers in navigating the evolving market conditions.

Explore The Cliffs at Keowee Springs

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

MOUNTAIN LAKES, brokered by eXp Realty - Luxury Division

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Eric S. Stegall

For over 20 years, I have had the privilege of working as a realtor at Lake Keowee, SC, building a reputation as a trusted advisor who always puts clients first. My approach has always been grounded i....

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