Is Ravenel, SC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Ravenel was a Seller's Market.
Key Takeaway
Ravenel is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Ravenel, SC
How much do homes in Ravenel, SC cost?
Median Sold Price
$489,450
$227/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Ravenel have sold for 4.7% more than they did a year ago.
Summary: The median home sold price in Ravenel was $489,450 in May 2024, up 4.7% from last year, and the median price per square foot was $227.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | $237.5K | N/A |
| 3 Bedrooms | $482.2K | $427.8K | -11.3% |
| 4 Bedrooms | $459.5K | $576.5K | +25.4% |
| 5+ Bedrooms | $686.7K | $787.5K | +14.7% |
Summary: Ravenel 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 did not change, 3 bedroom homes decreased by 11.3%, 4 bedroom homes increased by 25.4%, and 5+ bedroom homes increased by 14.7%.
Median Sold Price Compared To Nearby Cities
| Hollywood | $632.5K | $692.4K | +9.5% |
| Ravenel-Hollywood | $620K | $659.9K | +6.4% |
| Ravenel | $467.4K | $489.4K | +4.7% |
Housing Supply in Ravenel, SC
How many homes are available in Ravenel, SC?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 37 | 42 | +13.5% |
Summary: The Ravenel real estate market had 42 homes for sale in May 2024, a 13.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 10 | 17 | +70.0% |
| 4 Bedrooms | 18 | 16 | -11.1% |
| 5+ Bedrooms | 9 | 9 | 0.0% |
Summary: The Ravenel 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 remained the same, 3 bedroom homes increased by 70%, 4 bedroom homes decreased by 11.1%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 8 | 5 | -37.5% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Ravenel, you may be able to get a good deal. 80% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in Ravenel in May 2024, down by 37.5% month-over-month. Of the 5 sold homes, 80% were sold under asking, 20% were sold at asking, and 0% were sold over asking.
Days on Market for Ravenel, SC
We’re sorry, we don't have information for this market at the moment
