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Low Inventory Negatively Impacts Indian Land, SC Home Sales In July 2021

By
Real Estate Agent with Coldwell Banker Realty 179530

 

Latest news on the Indian Land real estate market in July 2021 and what it means for you...  

The Indian Land, South Carolina (29707 zip code) housing market remained a seller's market in July with just barely more than a half months supply of homes at 0.6 months supply of inventory overall, down 53.8% from 1.3 months in July 2020 and down from 2.3 months in July 2019. 

 

Housing inventory was down 46.6% in July year-over-year, despite  a 25.3% increase in new listings year-over-year. New construction inventory, long a staple of Indian Land housing, was down 72.5% year-over-year. Resale home inventory dropped 46.6% year-over-year.

 

Both average and median sale prices increased in July 2021 to $424,203 and $382,500, respectively. Average home sale prices increased 15.2% year-over-year, while median sale prices increased 9.3% year-over-year.  Average home sale prices also increased year-over-year by about $56,000 and by $119,000 over July 2019. Median sale prices also increased by $100,000 over July 2019. Lack of inventory continues to drive home prices up. New construction inventory was down to just 0.5 months in July 2020 (down 58.3% year-over-year), putting additional pressure on sales momentum.

 

Price per square foot also increased in July 2021 over the prior year to $177/square foot. This is a 26.4% increase from $140/square foot in July 2020.

 

Closed sales decreased in July by 19.3% year-over-year. Pending sales decreased 4.1% versus July 2020. It was just a matter of time before the extreme lack of inventory impacted closed and pending sales in Indian Land. You can't sell what you don't have to sell!

 

Average days on market were 7 days (down 44 days year-over-year). Average days on market were also 8 days lower month-over-month. Median days on market were 3 days (down 17 days year-over-year and down 18 days versus July 2019). Because of buyer demand and razor thin inventory, Indian Land homes continued to sell in about one weeks, on average.

 

The number of showings per listing is another indicator of how competitive the Indian Land housing market was in July 2021. On average, listed homes had 16.9 showings. This was an increase of 74.2% from 9.7 showings in July 202 and up from 7.1 showings per listing in July 2019.

 

With home sellers receiving a median 104.1% of asking price in sale price (up 5.7% year-over-year), the negotiating opportunity for home buyers in Indian Land was negligible in July 2021.

 

  Want to know what this would mean for your family if you decide to buy or sell an Indian Land area home?

 

Contact Nina Hollander if you're curious about the Charlotte real estate market

We can help.

Call us today at 704-779-0813 or contact us here.

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 MORE INFORMATION ON THE INDIAN LAND, SC HOUSING MARKET'S PERFORMANCE 

 Indian Land Housing Market Highlights

July 2021 Versus July 2020

Indian Land, SC (29707 Zip Code) Real Estate Report July 2021

 

9 HOT INDIAN LAND NEIGHBORHOODS 

Hot Indian Land Neighborhoods

   

SEARCH ALL INDIAN LAND, SC HOMES FOR SALE

 

Search Indian Land Homes For Sale

 

 

FREE Home Buyer Guide "Things To Consider When Buying A Home" 

 

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

If you're thinking about selling your Indian Land area home, let's get together and discuss the supply conditions in Indian Land neighborhoods and how we can assist you in gaining access to buyers who area ready, willing, and able to buy now.

 

Contact us if you'd like to receive our Neighborhood Analyzer Report on a monthly basis so you can keep track of home sales activity in your neighborhood.

We're happy to provide an expert home value analysis with no obligation on your part.

What's My Indian Land SC Home Worth? 

 FREE Home Seller Guide: "Things To Consider When Selling Your House"

 

THINKING OF SELLING YOUR HOME? CHECK OUT THE COLDWELL BANKER MARKETING ADVANTAGE 

 

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 Realty, 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 why experience matters and how:

 "The Right Broker Makes All The Difference."

 

 

Read the original blog post at www.GreatHomesInCharlotte.com 

Posted by

 

 Nina Hollander, RE/MAX Broker, Realtor

 

 

 

Broker, Realtor, MBA, GRI, ABR, SRES, CDPE, SFR, SPS, CMRS
Carolinas Realty Partners with Coldwell Banker Realty
Direct: 704-779-0813
Website: www.GreatHomesInCharlotte.com
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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.

 

Comments (28)

Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Joan Cox thanks, Joan... for the most part, sellers are still in the driver's seat in many of Charlotte region's areas.

Aug 20, 2021 07:11 AM
Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Condo and Home Specialists

Low inventory is driving home prices up in Indian Land, which is good for sellers Nina. However, more and more homeowners need to call you so that they can be another SOLD too!

Aug 20, 2021 07:13 AM
Rocky Dickerson
Realty One Group - Las Vegas, NV
Superior Service!

Good morning Nina! That is quite the report. Amazing that new homes were down over 70%

Aug 20, 2021 07:15 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400 hi Sheila... I'd be over the moon to have more people call me to sell their homes in Indian Land... they would be gone in a New York minute!

Aug 20, 2021 07:16 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Bob "RealMan" Timm hi Bob... I've never gone door to door and hope that agents are doing that, especially women. As I often say, (1) we are in the south where people do have guns and don't want to be looking like we are trespassing onto someone's property; (2) we are in the south where many homes have big dogs... same as with a gun... why take a chance to walk onto someone's private property; (3) as a woman I don't even want to be talking to a stranger at their door; if they invite me in and are not "kosher," then what?

Aug 20, 2021 07:18 AM
Bob "RealMan" Timm

I realize that Minot would be seen as "small town" in most folks eyes but I think we are one of the most heavly armed States in the nation and with hunting being our biggest draw we have a lot of dogs as well. However I have to say there is still door to door activity here. One of (if not thee) most successful EdwardJones agents in town owes her success to door to door prospecting.



 

Aug 20, 2021 07:58 AM
Nina Hollander, Broker

Bob "RealMan" Timm I get it, Bob... I've never door knocked and I've never cold-called... just not my style. Everyone has to find their own comfort zone in how they develop business. But anyone who knocks on my door whom I don't know and who not invited does not get a pleasant reception from me.

Aug 20, 2021 09:05 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Rocky Dickerson hi Rocky... that drop in new construction is a big hit for Indian Land, as this is where so much of the south Charlotte area new construction has been happening. 

Aug 20, 2021 07:19 AM
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Nina like you stated, it was only a matter of time before the lack of inventory was going to impact the number of sales.  Hopefully inventory starts to increase this Fall before home sales go down further.

Aug 20, 2021 08:13 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

George Souto hi George... I keep hoping for more inventory, but I'm not overly sanguine about it coming about in any big numbers.

Aug 20, 2021 08:17 AM
Roy Kelley
Retired - Gaithersburg, MD

This is important information to share with families on the move.

Take care, be safe and have a great day.

Aug 20, 2021 08:50 AM
Beth Atalay
Cam Realty and Property Management - Clermont, FL
Cam Realty of Clermont FL

Hi Nina Hollander, Broker, it is a challenge to do a CMA in some areas due to low number of sales. You can not sell what you don't have. I hope you will see some listings in the Indian Land in the next months. 

Aug 20, 2021 09:01 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Roy Kelley hi Roy... great to see you today (every day in fact). Thanks for stopping by... here's to a good weekend ahead.

Aug 20, 2021 09:13 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Beth Atalay hi Beth... doing CMA's these days is really a chore. I just closed on a listing sale in Indian Land and doing a CMA was not easy.

Aug 20, 2021 09:14 AM
Roy Kelley
Retired - Gaithersburg, MD

We have a rainy day in Maryland and hope for better weather over the weekend.

Aug 20, 2021 09:18 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Roy Kelley hi Roy... we get some pop up showers in the evenings here, but no real rain during the day (at least so far).

Aug 20, 2021 09:21 AM
Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

Indian Land home buyers and sellers are sure to value your real estate market report, Nina.

Aug 20, 2021 10:01 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Myrl Jeffcoat good Saturday morning, Myrl... hope you have had a good week and are now enjoying your weekend.

Aug 21, 2021 05:52 AM
Sheri Sperry - MCNE®
Coldwell Banker Realty - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

Hi Nina Hollander, Broker - You understand how to market to your areas when the inventory is low.  Another good reason to hire you.

Aug 21, 2021 09:51 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Sheri Sperry - MCNE® whatever the market conditions, Sheri... it always comes back down to marketing.

Aug 21, 2021 01:38 PM
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

Low inventory, price increases , rising New Construction costs abide in Lancaster County, PA . Buyers are frustrated after losing several houses in the Multi Offer Process .

Aug 23, 2021 08:45 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Michael J. Perry hi Michael... no doubt about that frustration in the marketplace... every time I sell one of my listings I hear how the buyer had lost out on 5, 6, 7 previous offers.

Aug 23, 2021 09:47 AM