Latest news on the Fort Mill real estate market in April and what it means for you...
Fort Mill's housing market (29715 and 29708 zip codes) remained a seller's market in April with significantly lower inventory, lower months supply of housing, and higher average and median home sale prices.
Pending sales increased 21.9% and closed sales increased 4.8% year-over-year in April. Lack of inventory limited the number of closed sales in April.
New listings increased 13.6% in Fort Mill year-over-year. Housing inventory dropped 70% year-over-year. The months supply of homes decreased 72.7% to just 0.6 months from 2.2 months in the same month one year ago. The 82% drop in new construction inventory certainly contributed to the huge decrease in the months supply of home.
Average days on market decreased 14 days to 29 days versus the same month one year ago. Average days on market decreased 29 days compared with April 2019. Median days on market were 2, decreasing 10 days versus the same month one year ago. Newly listed homes are selling as fast as they come on the market.
Sellers received a median 100.2% of list price, up 1.7% year-over-year. Home buyers clearly had minimal negotiating room for Fort Mill homes.
Average home sale prices increased 8.3% in April 2021 versus April 2020. Median home sale prices increased 8%. Average sale price was $399,935. Median sale price was $372,500 (about $17,000 higher month-over-month). Greater demand for homes than supply of homes is driving home prices up. Price per square foot increased to $167, up $22/square foot one, year-over-year.
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MORE DETAILS ON THE FORT MILL HOUSING MARKET'S PERFORMANCE
FORT MILL HOUSING MARKET HIGHLIGHTS:
APRIL 2021 VS APRIL 2020
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MEDIAN HOME PRICE TRENDS IN FORT MILL, SC
This Greater Charlotte, North Carolina real estate monthly update for Fort Mill, SC is provided by Nina Hollander and Carolinas Realty Partners, Coldwell Banker Realty, your Greater Charlotte area residential real estate experts and Fort Mill specialists. We've been opening doors for Fort Mill home buyers and sellers for 20+ years.
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