June 2015 showed a solid performance in home sales in the Indian Land, South Carolina area of the Charlotte metro region.
The average sale price of Indian Land area (28707 zip code area) homes increased 0.7% to just over $265,000, while days on market for property listings dropped to 55 days, a 29.5% improvement over the same period last year.
Price per square foot also increased by 3.0% to $103/square foot during June versus the same period in 2014 (much of this having to do with the large amount of new construction in Indian Land). Gone are the days when buyers could look in Indian Land for a "bargain" in Lancaster County versus York County.
Closed sales of homes in Indian Land were up 15.3% versus the same period last year. Meanwhile, pending sales in June 2015 were also up in double digits to 20.8% versus June 2014.
The average percent of original list price that sellers received for their homes was essentially flat compared with last year, but at 96.6% it shows how little negotiating room there is on Indian Land homes.
The Indian Land area's June months supply of homes continues to hover around 3.5% months for two years now--indicating more of a seller's than buyer's market in Indian Land, South Carolina. And while new listings were up 14.6% (much of it new construction), it would appear we can expect continued low inventory levels of homes for sale, pressure on prices, and minimal negotiating room for Indian Land homes.
SEARCH ALL INDIAN LAND, SC HOME FOR SALE
WONDERING WHAT YOUR INDIAN LAND, SC HOME IS WORTH IN TODAY'S MARKET
Nice report.
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