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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Gaffney is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Gaffney has remained a Seller's Market.

Key Takeaway

Gaffney is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Gaffney, SC

How much do homes in Gaffney, SC cost?

Median Sold Price

$219,900

$140/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$4,650(+2.2%)

Key Takeaway

Homes in Gaffney have sold for 2.2% more than they did a year ago.

Summary: The median home sold price in Gaffney was $219,900 in May 2024, up 2.2% from last year, and the median price per square foot was $140.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 --
N/A
2 $109K$135K
+23.9%
3 $222K$215.9K
-2.7%
4 $299.9K$247.9K
-17.3%
5+ $319.7K$355K
+11.0%

Summary: Gaffney housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 23.9%, 3 bedroom homes decreased by 2.7%, 4 bedroom homes decreased by 17.3%, and 5+ bedroom homes increased by 11%.

Housing Supply in Gaffney, SC

How many homes are available in Gaffney, SC?

Number of Homes For Sale

Apr 2024May 2024CHANGE
160154-3.8%

Summary: The Gaffney real estate market had 154 homes for sale in May 2024, a 3.8% decrease compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 1716
-5.9%
3 107102
-4.7%
4 3031
+3.3%
5+ 65
-16.7%

Summary: The Gaffney housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 5.9%, 3 bedroom homes decreased by 4.7%, 4 bedroom homes increased by 3.3%, and 5+ bedroom homes decreased by 16.7%.

Number of Homes Sold

Apr 2024May 2024CHANGE
3734-8.1%

Asking Price vs. Sold Price

13 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

8 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. 46.4% of homes here sold below asking price last month.

Summary: A total of 34 homes were sold or pending in Gaffney in May 2024, down by 8.1% month-over-month. Of the 28 sold homes, 46% were sold under asking, 25% were sold at asking, and 29% 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

May 2023May 2024CHANGE
49 Days24 Days-50.7%

Summary: Homes in Gaffney had an average of 24 days on market in May 2024, down by 50.7% compared to last year.

Breakdown of Home Sale Times

19 Homes Were Sold
Under 30 Days

7 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 May 2024, 34 homes were sold in Gaffney; 56% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 6% 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 1 Day Ago

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