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What Happened In Indian Land, SC's Housing Market In June 2019?
Indian Land, SC Housing Market Report:
The Indian Land housing market remained a seller’s market in June 2019 with just 3.1 months supply of inventory overall, but with only 2.1 months supply of resale homes. While new listings increased 4%, most of the increase was from new construction. Moreover, resale home inventory dropped 28.7% in June versus the same month one year ago, while new construction inventory increased 127.9%. Average sale prices in June were relatively flat, while the median sale price of Indian Land homes increased 6.8% in June 2019, with new construction homes selling at about $40,000 more on average than resale homes. With tight inventory of resale homes, prices of resale homes increased 5.7% in June 2019 compared with June 2018. With home sellers getting 97.9% of selling price, not much room for buyers to negotiate. Pending sales increased almost 29% year-over-year, while closed sales were down 3%, most likely due to lack of resale inventory.
MORE INFORMATION + VIDEO ON THE INDIAN LAND, SC HOUSING MARKET'S PERFORMANCE IN JUNE 2019
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