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Housing Market Update For Fort Mill & Tega Cay, SC: February 2018
 
 
February 2018 home sales in the Fort Mill/Tega Cay, South Carolina areas of the Charlotte, NC metro region continued the trends we've seen since 2016 and throughout 2017 with pressure on closed and pending sales, as inventory continued to decrease, while demand for homes exceeded supply.
 
The average sale price of Fort Mill area homes increased by 4.8% to just under $327,000 compared with February 2017, while average days on market for property listings were down 4% to 52 days. Price per square foot also increased by 4.9% to $128/square foot in February 2018 versus the same period in 2017.
 
In Tega Cay, average home sale prices increased by 0.7% to just under $343,000 versus February 2017, while days on market decreased to 66 days, an 8.3% improvement. Price per square foot in Tega Cay increased by 76.4% to $133/square foot in February 2018.
 
Closed sales of homes in Fort Mill during February 2018 decreased by 3.7% compared with the same period last year. In Tega Cay, closed sales decreased by 4.4% versus February 2017. Pending sales in February 2018 were also down -- down 8.1% in Fort Mill and down by 11.3% in Tega Cay versus February 2017. To some degree this can be attributed to the lack of new listings coming on the market, especially in Tega Cay.
 
The median percent of ... more

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