September 2017 home sales in the Fort Mill/Tega Cay, South Carolina areas of the Charlotte, NC metro region had a solid performance in the last month of the third quarter as compared with the same period one year ago, continuing the trends we've seen since 2016, with sales prices increasing, closed and pending sales up and inventory continuing to decrease for the most part.
The average sale price of Fort Mill area homes increased by 5.0% to just under $320,000 compared with September 2016, while average days on market for property listings dropped by 2 days to 50 days, a 3.8% improvement over the same period last year. Price per square foot also increased by 5.9% to $126/square foot September 2017 versus the same period in 2016.
In Tega Cay, average home sale prices were flat at just under $340,000 versus September 2016, while days on market decreased by 13 days to 64 days, a 16.9% improvement. Price per square foot in Tega Cay increased by 4.0% to $129/square foot in September 2017.
Closed sales of homes in Fort Mill during September 2017 improved by 6.8% compared with the same period last year. In Tega Cay, closed sales increased 1.5% versus September 2016. Pending sales in September 2017 were up as well -- by 1.8% in Fort Mill and up by 3.5% in Tega Cay versus September 2016.
The average percent of original list price that sellers received for their homes was 97.1% in Fort Mill and 95.8% 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 2.6 months (down 18.8%) and 4.0 months (down 20.0%), respectively--indicating a seller's market in the Fort Mill/Tega Cay areas of South Carolina. New listings increased slightly by 2.2% in Fort Mill and decreased by 2.6% in Tega Cay in September 2017.
As we begin the fourth quarter of 2017, it seems safe to assume that housing inventory in Fort Mill and Tega Cay will remain relatively tight and that homes will continue to sell quickly and close to asking price for the forseeable future.
Fort Mill/Tega Cay, SC Areas Local Market Update - September 2017
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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.
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