August 2016 home sales in the Fort Mill/Tega Cay, South Carolina areas of the Charlotte, NC metro region had a solid performance, continuing the trends we've seen all year to-date with sales prices increasing and inventory remaining tight.
The average sale price of Fort Mill area homes increased by just under 1% to just over $287,000 compared with August 2015, while average days on market for property listings dropped by 14 days to 50 days, a 21.9% improvement over the same period last year. Price per square foot also increased by 3.7% to $113/square foot during August 2016 versus the same period in 2015.
In Tega Cay, average home sale prices were up 6.0% to just over $321,000 versus August 2015, while days on market increased by five days to 61 days. Price per square foot in Tega Cay increased by 6.0% to $124/square foot in August 2016.
Closed sales of homes in Fort Mill during August 2016 improved 9.6% compared with the same period last year. In Tega Cay, closed sales increased by 9.9% versus August 2015. Pending sales in August 2016 were up double digits by 12.7% in Fort Mill and up by 22.8% in Tega Cay versus August 2015.
The average percent of original list price that sellers received for their homes was 97.4% in Fort Mill and 96.9% in Tega Cay, showing relatively little negotiating room 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 2.9 months (down 14.7%) and 3.9 months (up 2.6%), respectively--indicating a strong seller's market in the Fort Mill/Tega Cay areas of South Carolina. Thankfully, new listings increased 9.9% in Fort Mill and 18.5% in Tega Cay in August 2016. Based on sales year-to-date, it seems safe to assume that housing inventory in Fort Mill/Tega Cay will remain relatively tight and homes will continue to sell quickly and close to asking price.
Fort Mill/Tega Cay Areas Local Market Update - August 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
- July 2016: http://activerain.com/blogsview/4927226/what-happened-in-the-fort-mill--tega-cay--sc-housing-market--july-2016
- June 2016: http://activerain.com/blogsview/4910406/what-happened-in-the-fort-mill--tega-cay--sc-housing-market--june-2016
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May 2016: http://activerain.com/blogsview/4897865/what-happened-in-the-fort-mill-tega-cay--sc-housing-market-in-may-2016
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April 2016: http://activerain.com/blogsview/4877837/what-happened-in-fort-mill-tega-cay--sc- housing-market-in-april-2016-
- 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-
- 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
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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