August 2015 homes sales had a fantastic month in the Indian Land, South Carolina area of the Charlotte metro region.
The average sale price of Indian Land area (29707 zip code area) homes increased 2.5% to just under $272,000, while days on market for property listings dropped to 54 days, a 23.9% improvement over the same period last year.
Price per square foot also increased by 1% to $103/square foot during August versus the same period in 2014 (much of this having to do with the large amount of new construction in Indian Land). Essentially gone are the days when buyers could look in Indian Land for a "bargain" in Lancaster County versus York County.
Closed sales of homes in Indian Land were up 24.1% versus the same period last year. Meanwhile, pending sales in August 2015 were also up in double digits to 25.3% versus August 2014. So much for the idea of slow August sales and summer doldrums!
The average percent of original list price that sellers received for their homes was up compared with last year, and at 96.7% it shows how little negotiating room there is on Indian Land homes.
The Indian Land area's August months supply of homes continues to hover around at just over 3 months for two years now--indicating more of a seller's than buyer's market in Indian Land, South Carolina. And while new listings were up 20% as home owners have noted that their homes will sell quckly if listed, it would appear we can expect continued low inventory levels of homes for sale, pressure on prices, and minimal negotiating room for Indian Land homes.
Indian Land Area Local Market Update - August 2015
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