Latest news on the Fort Mill, SC real estate market in February 2023...
What you need to know...
What it means for you...
Fort Mill real estate in February 2023 (29715 and 29708 zip codes) continued to shift with fewer closed sales year-over-year, although increasing month-over-month. New listings were down both year-over-year and month-over-month. Inventory increased from February 2022, but decreased from January 2023. Days on market in February 2023 were the highest Fort Mill has seen since March 2021 when the days on market were also 52. Average and median home prices decreased year-over-year and month-over-month. Median home prices increased slightly year-over-year.
FORT MILL HOUSING MARKET HIGHLIGHTS: FEBRUARY 2023
SALES DOWN YEAR-OVER-YEAR IN FORT MILL | UP MONTH-OVER-MONTH
Sales in February 2023 were 63, up from 60 in January 2023 and down 46.2% from 117 in February 2022. The February 2023 sales were at their lowest level compared with February 2022 (117 sales) and February 2021 (105 sales).
NEW LISTINGS DOWN YEAR-OVER-YEAR & MONTH-OVER-MONTH | INVENTORY UP YEAR-OVER-YEAR
New listings in Fort Mill were 79, down 20.2% from 99 in January 2023. New listings were 29.5% lower than the 112 new listings in February 2022 and the 148 new listings in February 2021.
The number of properties for sale in February 2023 was 282, down 9.3% from January 2023, but 15.6% higher than 244 in February 2022. Inventory in February 2023 was at its highest level compared with February 2022 (244 listings) and January 2021 (257 listings). This was the lowest level of inventory in Fort Mill since June 2022.
AVERAGE DAYS ON MARKET UP DRAMATICALLY YEAR-OVER-YEAR
Average days on market in Fort Mill were 52 days, up 13.04%, from 46 days in January 2023. Days on market were up 36 days compared with February 2022 and up 30 days compared with February 2021. Days on market in February 2023 were the highest Fort Mill has seen since March 2021 when the days on market were also 52.
LIST TO PRICE RATIO RATIO JUST UNDER 99%
The February 2023 list to sale price ratio was 98.99%, virtually equal to the 98.5% ratio in January 2023, but down 2.39% from 101.38% in February 2022. It's been some seven months since Fort Mill's list to sale price ratio was 100% or more.
FORT MILL HOME AVERAGE HOME PRICES DOWN | MEDIAN PRICES UP YEAR-OVER-YEAR
Average home sale prices decreased 17.5% to $442,532 month-over-month from $536,494. Year-over-year, average home prices decreased 7.12% from $476,446 in February 2022. Average home prices were higher compared with February 2021.
Median home sale prices decreased 7.1% to $425,000 in February 2023 from $457,500 in January. Year-over-year, the median sale price rose 3.5% from $410,550 in February 2022. Median home prices were also higher compared with February 2021.
Price per square foot was $200, down $10/square foot (-4.76%) month-over-month. Year-over-year, average price per square foot increased 1.52% from $197 per square foot.
MEDIAN HOME PRICE TRENDS IN FORT MILL, SC
MORE DETAILS ON THE FORT MILL HOUSING MARKET'S PERFORMANCE
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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, Greater Charlotte area residential real estate experts and Fort Mill specialists. We've been opening doors for Fort Mill home buyers and sellers for 22+ years.
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