Indian Land, SC Real Estate Report/Housing Market Snapshot: November 2019
Latest news on the Indian Land real estate market and what it means for you...
Indian Land, SC (29707 zip code) real estate report/snapshot for November 2019. The Indian Land housing market remains a seller’s market with just 2.8 months supply of inventory overall. Housing inventory was up 4.3% year-over-year despite a decrease in new listings of 7.7%, most likely due to the large increase in new construction inventory.
Both average and median sale prices decreased slightly in November to $339,794 and $326,807, respectively. However this has more to do with the price mix of homes sold in November than any diminution in real estate values in the Indian Land area.
Both closed sales and pending sales increased in November. Closed sales by 9.3% and pending sales by 4.1%.
Average days on market dropped by 11 days to 51 days year-over-year, while median days on market were just barely over one month at 35 days.
Just as it was in October and September, the Indian Land housing market in November was all about new construction. New construction listings increased 96.1%. New construction sales increased 50% year-over-year, while sales of resale homes decreased 1.7% year-over-year. New construction pending sales also increased 63.2% year-over-year in Indian Land, while dropping 22.6% for resale homes due to lack of inventory. Indian Land inventory was up 96.1% for new construction homes, but down 21.5% for resale homes.
At an average sale price of $376,587, new construction homes sold at an approximate $42,000 premium over resale homes in November 2019. With home sellers receiving 97.3% of asking price in sale price, there wasn’t much room for buyers to negotiate in November.
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MORE INFORMATION ON THE INDIAN LAND, SC HOUSING MARKET'S PERFORMANCE IN NOVEMBER 2019
Indian Land Housing Market Highlights
November 2019 Versus November 2018
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MEDIAN HOME PRICE TRENDS IN INDIAN LAND, SC
This Charlotte, North Carolina monthly real estate update for Indian Land, South Carolina is provided by Nina Hollander and Carolinas Realty Partners,Coldwell Banker Residential Brokerage, your Charlotte metro area residential real estate experts and Indian Land specialists. We've been opening doors for Indian Land home buyers and sellers for 20+ years.
If you're considering selling or purchasing a home in Indian Land or anywhere in the Charlotte metro area, I'd love an opportunity to earn your business, to exceed your expectations, and to show you how:
"The Right Broker Makes All The Difference."
Previous Indian Land, SC Housing Market Updates:
Indian Land Housing Market Update: October 2019
Indian Land Housing Market Update: September 2019
Indian Land Housing Market Update: August 2019
Indian Land Housing Market Update: July 2019
Indian Land Housing Market Update: June 2019
Indian Land Housing Market Update: May 2019
Indian Land Housing Market Update: April 2019
Indian Land Housing Market Update: March 2019
Indian Land Housing Market Update: February 2019
Indian Land Housing Market Update: January 2019
First published at: https://greathomesincharlotte.com/housing-market-reports-updates/indian-land-real-estate-news/
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