Source: Western Upstate Association of REALTORS MLS. Current as of May 10, 2020
"While the stock market recovered significantly in March, the effects of COVID-19 to the economy continue to build. In just the last four weeks, more than 20 million people filed initial unemployment claims according to the United States Department of Labor, fueled by "stay at home" orders and a slowdown of economic activity across the country. Added to the unemployment claims from March, more than 30 million people have become unemployed since COVID-19 has become widespread in the U.S. In the face of these challenging times, real estate activity in April slowed significantly.
New Listings were down 30.1 percent to 551. Pending Sales decreased 49.3 percent to 286. Inventory grew 4.1 percent to 1,863 units.
Prices moved higher as Median Sales Price was up 13.8 percent to $197,900. Days on Market decreased 28.2 percent to 84 days. Months Supply of Inventory was up 5.1 percent to 4.1 months, indicating that supply increased relative to demand.
While the effect of COVID-19 continues to vary widely across the country, it is expected that social distancing, higher unemployment, and lower overall economic activity is likely to continue to constrain real estate activity in the near term. At the same time, the industry is adapting to the current environment by conducting business using technologies such as virtual showings and e-signing to help buyers and sellers with their housing needs in the face of these challenges.."
The Golden Corner
Oconee County South Carolina, home to Long Creek, Mountain Rest, Salem, Seneca, Walhalla and West Union offers some of the best real estate value in the country. We offer outstanding recreational opportunities as well as an excellent central location, just 1.5 hours to Atlanta, GA, and 2 hours to Charlotte NC or 1 hour to the airport in Greenville, SC.
Located in the foothills of the Blue Ridge Mountains, the Golden Corner offers 10 private lakes as well as Hartwell, Jocassee, and Keowee, three large, public power company-maintained lakes. Sitting just off I-85 we have easy access north or south, plus we are just an hour from Highlands NC and Cashiers NC. Clemson has all the charm of a small southern college town and is less than a half an hour away.