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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Union is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

Housing Prices in Union, SC

How much do homes in Union, SC cost?

Median Sold Price

$167,850

$117/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$7,900(+4.9%)

Key Takeaway

Homes in Union have sold for 4.9% more than they did a year ago.

Summary: The median home sold price in Union was $167,850 in May 2024, up 4.9% from last year, and the median price per square foot was $117.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 -$45K
N/A
2 $126.4K$124.9K
-1.1%
3 $158.9K$167.4K
+5.3%
4 $228K$250K
+9.6%
5+ $325K$351K
+8.0%

Summary: Union 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 decreased by 1.1%, 3 bedroom homes increased by 5.3%, 4 bedroom homes increased by 9.6%, and 5+ bedroom homes increased by 8%.

Housing Supply in Union, SC

How many homes are available in Union, SC?

Number of Homes For Sale

Apr 2024May 2024CHANGE
5450-7.4%

Summary: The Union real estate market had 50 homes for sale in May 2024, a 7.4% decrease compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 11
0.0%
2 1711
-35.3%
3 2226
+18.2%
4 149
-35.7%
5+ 03
+100.0%

Summary: The Union 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 35.3%, 3 bedroom homes increased by 18.2%, 4 bedroom homes decreased by 35.7%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Apr 2024May 2024CHANGE
1013+30.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

5 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Union, you could pay more than the asking price. 45.5% of homes here sold above asking price last month.

Summary: A total of 13 homes were sold or pending in Union in May 2024, up by 30.0% month-over-month. Of the 11 sold homes, 27% were sold under asking, 27% were sold at asking, and 45% were sold over asking.

Days on Market for Union, SC

How long does it take to sell a home in Union, SC?

Average Sale Time

May 2023May 2024CHANGE
42 Days50 Days+18.4%

Summary: Homes in Union had an average of 50 days on market in May 2024, up by 18.4% compared to last year.

Breakdown of Home Sale Times

8 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Union are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 13 homes were sold in Union; 62% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 15% 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 2 Days Ago

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