Aiken Standard's top 10 local stories of 2021 -- No. 5: Real estate soars in Aiken County

Landon Stamper, Aiken Standard, S.C.
·2 min read

Dec. 26—Editor's note: The Aiken Standard is counting down its top 10 local news stories of 2021. This is No. 5 in the 10-part series beginning Dec. 22 and ending Dec. 31.

The Aiken County real estate market was smoking hot in 2021, following a nationwide trend.

The average sales price of a home was the highest it's been in the last five years, with the number of units closed also beating the data from the past five years.

Specifically looking at year-over-year data from Meybohm Real Estate current as of Dec. 21, the average sales price of an Aiken County home is $291,125, up from $247,843 a year ago.

The county also saw year-over-year increases in two other major areas pertaining to residential sale: average price per square foot and number of units closed, a clear indication of a scorching market.

One number that did decline was a house's average number of days on the market before being sold. For sale signs rarely lasted for longer than a few weeks, if that.

Agents throughout Aiken County attributed this hot market to a few different factors, including a scarcity of inventory, increase in new construction and interest rates continuing to stay low.

Some of these same agents noted that the inventory scarcity contributed to the rising prices, as more people are placing more bids on less homes leading to the price being driven up.

Another problem created by the inventory scarcity pertains to those who are selling their home and looking to move to another property. The house being sold might be snapped up quickly, making it important for sellers to have a plan for where they're moving, experts say.

Otherwise, they could get caught in a bind and not have a place to go when their house sells. So, agents are advising sellers to decide early where they're going to move.

Aiken has also emerged as an attractive place to move, local experts say, with Hitchcock Woods, an abundance of golf courses and the equestrian community being some of the area's draws.

Along with that, the COVID-19 pandemic allowed many people who previously worked in an office to work remotely. Thus, some people are taking advantage of the opportunity to get out of a big city and move to a smaller area like Aiken County, leading to buyers interest in the area.