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Housing Market Update For Indian Land, SC: February 2018
 
February 2018 homes sales in the Indian Land, South Carolina area of the Charlotte metro region continued the trends we've seen since 2016 with strong demand for homes resulting in continued increases in home prices, coupled with significant decreases in availability of affordable homes priced under $250,000.
 
The average sale price of homes in the Indian Land area (29707 zip code) increased 8.4% to just under $323,000, while average days on market for property listings increased by 4 days to 52 compared with February 2017. Median days on market were just 23 days in February 2018.
 
Price per square foot also increased by 2.4% to an average of $126/square foot during February. The days when homes in Indian Land in Lancaster County versus adjacent Fort Mill in York County were much less expensive are now a thing of the past.
 
Closed sales of homes in Indian Land were up 1.4% versus the same period last year. Meanwhile, pending sales in February 2018 were up 14.5% versus February 2017. Much of this somewhat anemic performance in closed sales can be attributed to the lack of inventory in homes priced under $235,000 where there is just two months of inventory.
 
The average percent of original list price that sellers received for their homes was 97.6%, indicating minimal negotiating room for Indian Land homes.
 
The ... more

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