What Happened In The Indian Land, SC Housing Market In November 2017?

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Real Estate Agent with RE/MAX Executive | Charlotte, NC
http://actvra.in/58FB

 

 

Indian Land, SC Homes for SaleNovember 2017 homes sales in the Indian Land, South Carolina area of the Charlotte metro region continued the trends we've been seeing since 2016.

 

Home sale prices continued to increase, but lack of affordable inventory put pressure on closed sales in the Indian Land area. For those looking for new construction, average home prices are still pushing to the $400,000 price point with average sale prices in November 2017 for new construction at approximately $385,000, an increase of 4.9% versus the same period of time last year.

 

The average sale price of Indian Land area (29707 zip code area) homes increased 5.0% to just under $312,000, while average days on market for property listings were up by two days to 50 days in November compared with the same period last year.  Median days on market were flat at 23 days compared with one year ago.

 

Price per square foot also increased by 3.3% to an average of $126/square foot during November. The days when homes in Indian Land in Lancaster County versus adjacent Fort Mill in York County were much less expensive are essentially gone for good.

 

Closed sales of homes in Indian Land were down 1.5% versus the same period last year. Meanwhile, pending sales in November 2017 were up 4.5% versus November 2016. Much of this somewhat anemic performance can be attributed to the lack of inventory in homes priced under $235,000 where there is less than one month of inventory and where the number of homes in this price range available for sale were down 30.8% compared with one year ago.

 

The average percent of original list price that sellers received for their homes was 96.6%, showing minimal negotiating room for Indian Land homes.

 

The Indian Land area's months supply of homes in November 2017 increased 9.7% to 3.4 months versus one year ago -- continuing to indicate a seller's market in Indian Land, South Carolina. Inventory of resale homes is lower at 2.9 months. New listings were up 9.6%, but it's worth pointing out that new listings of affordable homes prices under $235,000 were down 30.8% compared with one year ago with only 0.9 months of inventory... clearly putting pressure on closed sales despite the overall increase in new listings.

 

It's worth pointing out that the average sale price of a resale home in Indian Land in November 2017 stood at $298,834 (up 6.5% versus November 2016), while the average sale price of a new construction home stood at $384,663 (up 4.9% versus November 2016). No wonder it's so hard to find homes in Indian Land under $250,000 (new or resale). For those looking for new construction, the difference in average price for resale homes versus new homes  is over $85,000. Any one looking for new construction bargains in Indian Land, South Carolina will be disappointed.

 

 

Indian Land, SC Area Local Market Update - November 2017

 

 

 

 

 

 

 

 

SEARCH ALL INDIAN LAND, SC HOMES FOR SALE

 

 

WONDERING WHAT YOUR INDIAN LAND, SC AREA HOME IS WORTH?

 

 

 

Previous Indian Land, SC Housing Market Updates:

Indian Land Housing Market Update: October 2017

Indian Land Housing Market Update: September 2017

Indian Land Housing Market Update: August 2017

Indian Land Housing Market Update: July 2017

Indian Land Housing Market Update: June 2017

Indian Land Housing Market Update: May 2017

Indian Land, SC Housing Market Update: April 2017

 Indian Land, SC Housing Market Update: March 2017

Indian Land, SC Housing Market Update: February 2017 

Indian Land, SC Housing Market Update: January 2017 

 

 

This Charlotte, North Carolina real estate monthly update for Indian Land, South Carolina is brought to you courtesy of Nina Hollander and Carolinas Realty Partners, RE/MAX Executive Realty, your Charlotte metro area real estate consultants. 

 

If you are considering selling or purchasing a home in the Charlotte metro area, I'd love an opportunity to earn your business, exceed your expectations, and to prove to you that:

 "The Right Broker Makes All The Difference."

 

 

 Discover Indian Land image credited to DiscoverIndianLand.com

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SEARCH ALL CHARLOTTE METRO AREA HOMES HERE

 

Nina Hollander, Broker, Realtor / REMAX / Carolinas Realty Partners / Ph: 704.779.0813 / F: 704.341.3346 / E: Nina@NinaHollander.com / W: www.GreatHomesInCharlotte.com

Nina Hollander
Broker, Realtor, CRS, GRI, ABR, SRES, CDPE, SFR, SPS, CMRS
Carolinas Realty Partners with RE/MAX Executive Realty
Direct: 704-779-0813
Website: www.GreatHomesInCharlotte.com
Blog: http://activerain.com/blogs/ninahollander
Search for Charlotte Area Homes: www.HomesInCharlotteArea.com

2007 - 2016 Charlotte Magazine 5-Star Customer Satisfaction Award Winner

 

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Disclaimer:  Nothing in this blog article is to be construed as legal advice, tax advice, or financial advice.  For legal advice see an attorney.   For tax advice or financial advice see a tax attorney, certified public accountant, or other qualified professional.

 

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Rainmaker
2,449,625
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

It is always nice to see values go up at a reasonable pace, it is similar here Nina Hollander 

Dec 06, 2017 02:01 PM #1
Ambassador
1,839,613
Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES
Tropic Shores Realty - Ich spreche Deutsch! - Spring Hill, FL
Florida Waterfront and Country Club Living

Nina, good information for buyers and sellers interested in the Indian Land area!

Dec 06, 2017 03:52 PM #2
Rainmaker
2,104,506
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Waxhaw/Fort Mill Area Realtor

Scott Godzyk ~ hi Scott... prices have gone up around 10% in Indian Land in the past year, which is higher than our market as a whole. The real issue is that we don't have much inventory in affordable homes and first-time buyers are getting priced out of the market.

Dec 06, 2017 05:27 PM #3
Rainmaker
2,104,506
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Waxhaw/Fort Mill Area Realtor

Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES ~ hi Silvia... thanks... and thanks for taking time to pop by and leave a comment.

Dec 06, 2017 05:28 PM #4
Ambassador
2,518,537
Paul S. Henderson, REALTOR®,CRS,
RE/MAX Professionals. - Tacoma, WA
Tacoma Washington Agent/Broker & Market Authority!

You paint a pretty picture of the Indian Land housing market last month. You really your homework Nina Hollander 

Dec 06, 2017 08:48 PM #5
Rainmaker
2,104,506
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Waxhaw/Fort Mill Area Realtor

Paul S. Henderson, REALTOR®,CRS, ~ good morning, Paul... Indian Land is one of the hottest markets in the Charlotte area right now and that's not about to stop.

Dec 07, 2017 01:51 AM #6
Rainmaker
3,710,251
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

You always provide good information about your housing market. Thank you for sharing 

Dec 07, 2017 02:20 AM #7
Rainmaker
2,104,506
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Waxhaw/Fort Mill Area Realtor

Gita Bantwal ~ good morning, Gita... and thank you for stopping by. Wishing you a terrific Thursday!

Dec 07, 2017 03:55 AM #8
Rainmaker
1,729,167
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

I may be a day late, but I am certainly not a dollar short in getting my Indian Land fix!

Dec 07, 2017 05:34 AM #9
Rainmaker
2,104,506
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Waxhaw/Fort Mill Area Realtor

Brian England ~ good morning, Brian... I had no doubt you'd be popping up here sooner or later! 

Dec 07, 2017 05:52 AM #10
Rainmaker
4,271,978
Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

Families on the move will appreciate your local real estate market reports.

Dec 07, 2017 06:52 AM #11
Rainmaker
2,104,506
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Waxhaw/Fort Mill Area Realtor

Roy Kelley ~ hi Roy... and people really are on the move in this area. I'm getting ready to do a post on why Charlotte area has grown as much as it has.

Dec 07, 2017 07:02 AM #12
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