Скачать или смотреть 🏡 Elgin, SC Real Estate Market Insights – May 2025 🏡 As we dive into the Elgin real estate market

🏡 Elgin, SC Real Estate Market Insights – May 2025 🏡

As we dive into the Elgin real estate market data for May 2025, there are some key insights that both buyers and sellers should take note of:

**Median Sale Price**: The median sale price is $252,500, showing a slight increase of 1.6% from last month but a significant decrease of 25.2% from last year. This suggests a more favorable market for buyers, as prices have come down considerably year-over-year, offering potential bargains.

**Median List Price**: At $242,500, the median list price has decreased by 10.2% from last month and 18.9% from last year. Sellers might need to adjust expectations and pricing strategies to attract buyers in this shifting market.

**Price Per Square Foot**: The median price per square foot has risen to $194.30, up 6% from last month and 3.7% from last year. This indicates that while overall prices may be lower, the value per square foot is increasing, highlighting quality investments.

**Inventory and Supply**: With 11 homes available and a 2.8-month supply, inventory has increased by 22.2% YoY. This is good news for buyers, as more options are available, but sellers should be prepared for increased competition.

**Days on Market**: Homes are spending an average of 61 days on the market, a significant reduction of 94 days from last month and 41 days from last year. This faster turnover is a positive sign for sellers, indicating a quicker sales process.

Whether you're buying or selling, understanding these trends can help you make informed decisions in the Elgin real estate market. [Data Source: Redfin]

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