July 2015 showed continued significant improvement in home sales in the Fort Mill, South Carolina area (which also includes Tega Cay) of the Charlotte metro region.
The average sale price of Fort Mill area homes increased by 10% to just over $295,000 compared with July 2014, while average days on market for property listings dropped by 19 days to 56 days, a significant 25.3% improvement over the same period last year. Price per square foot also increased by 4.6% to $113/square foot during July versus the same period in 2014.
Closed sales of homes in Fort Mill/Tega Cay were up double digits to 11.1% compared with the same period last year with 1,364 homes closing in the month of July 2015. Pending sales in July 2015 were up 8% versus July 2014.
The average percent of original list price that sellers received for their homes was 96.8%, showing how little negotiating room there is on Fort Mill/Tega Cay homes.
The Fort Mill/Tega Cay area's months supply of homes is 2.7 months--indicating a true seller's market in Fort Mill and Tega Cay, South Carolina. And with new listings increasing by just 1.6% in July 2015, we can only assume that housing inventory in Fort Mill will remain tight and homes will continue to sell fast and close to asking price.
Fort Mill Area Local Market Update - July 2015
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This Charlotte, North Carolina real estate monthly update for Fort Mill and Tega Cay is brought to you courtesy of Nina Hollander and Carolinas Realty Partners, RE/MAX Executive, your Charlotte metro area real estate consultants.
If you are considering selling or purchasing a home in the Charlotte metro area, I would love an opportunity to earn your business, exceed your expectations, and to prove to you that:
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