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

 
September 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 continue to increase, but lack of affordable inventory is putting pressure on both closed and pending sales in the Indian Land area. And for those looking for new construction, average home prices are beginning to push to the $400,000 price point with average sale prices in September 2017 for new construction at approximately $385,000.
 
The average sale price of Indian Land area (29707 zip code area) homes increased 3.8% to just over $307,000, while average days on market for property listings  remained flat at 51 days in September compared with the same period last year. Nonetheless, median days on market dropped to 23 days compared with one year ago, a 4.2% improvement.
 
Price per square foot also increased by 3.3% to an average of $125/square foot during September. 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 0.7% versus the same period last year. Meanwhile, pending sales in September 2017 were up 2.7% versus September 2016. Much ... more

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