April 2016 home sales in the Fort Mill/Tega Cay, South Carolina areas of the Charlotte, NC metro region showed a solid performance continuing the trends we saw in the first quarter of 2016.
The average sale price of Fort Mill area homes increased by 3.1% to just over $292,000 compared with April 2015, while average days on market for property listings dropped by 11 days to 53 days, a 17.2% improvement over the same period last year. Price per square foot also increased by 3.6% to $115/square foot during April 2016 versus the same period in 2015.
In Tega Cay, average home sale prices were up 1.9% to just over $316,000 versus April 2015, while days on market April stayed flat at 68 days. Price per square foot increased by 5.3% to $120/square foot in April 2016.
Closed sales of homes in Fort Mill during April 2016 were essentially flat compared with the same period last year, much of this due to lack of affordable inventory. In Tega Cay, closed sales increased by 7.7% versus April 2015. Pending sales in April 2016 were up 7.2% in Fort Mill and up 12.3% in Tega Cay versus April 2015.
The average percent of original list price that sellers received for their homes was 97.1% in Fort Mill and 95.9% in Tega Cay, showing how little negotiating room there is on both Fort Mill and Tega Cay homes.
The Fort Mill/Tega Cay area's months supply of homes as compared with one year ago is 3.1 months (down 8.8%) and 5.1 months (down 16.4%), respectively--indicating a seller's market in both Fort Mill and Tega Cay, South Carolina. Thankfully, new listings increased 9.9% in Fort Mill, although they were basically flat in Tega Cay in April 2016. Currently it seems safe to assume that housing inventory in Fort Mill/Tega Cay will remain tight and homes will continue to sell quickly and close to asking price.
Fort Mill/Tega Cay Areas Local Market Update - April 2016
SEARCH ALL FORT MILL, SC HOMES FOR SALE
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WONDERING WHAT YOUR FORT MILL OR TEGA CAY, SC HOME IS WORTH?
Previous Fort Mill/Tega Cay Housing Market Updates:
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March 2016: http://activerain.com/blogsview/4860252/what-happened-in-fort-mill-tega-cay-s-housing-market-in-march-2016-
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February 2016: http://activerain.com/blogsview/4848619/what-happened-in-fort-mill-tega-cay-s-housing-market-in-february-2016-
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January 2016: http://activerain.com/blogsview/4826831/what-happened-in-fort-mill-tega-cay-s-housing-market-in-january-2016-
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December 2015: http://activerain.com/blogsview/4810653/what-happened-in-fort-mill-tega-cay-housing-market-in-december-2015
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November 2015: http://activerain.com/blogsview/4792674/what-happened-in-fort-mill-tega-cay-sc-housing-market-in-november-2015
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October 2015: http://activerain.com/blogsview/4776821/what-happened-in-fort-mill-tega-cay-sc-housing-market-in-october-2015
- September 2015: http://activerain.com/blogsview/4757677/what-happened-in-fort-mill-tega-cay-s-housing-market-in-september-2015
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August 2015: http://activerain.com/blogsview/4738882/what-s-happening-in-the-fort-mill-tega-cay-housing-market-august-2015
- July 2015: http://activerain.com/blogsview/4718351/july-2015-charlotte-area-housing-update-fort-mill-tega-cay-areas
- June 2015: http://activerain.com/blogsview/4699760/june-2015-charlotte-housing-market-update-fort-mill-sc-area
- April 2015: http://activerain.com/blogsview/4662713/april-2015-charlotte-housing-market-update-fort-mill-sc-area
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:
"The Right Broker Makes All The Difference."
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