October 2015 homes sales had another stellar performance 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 4.0% to just under $281,00, while average days on market for property listings dropped to 55 days, a 21.4% improvement over the same period last year.
Price per square foot also increased by 2.7% to $115/square foot during October versus the same period in 2014 (much of this having to do with the large amount of new construction in Indian Land). The days when buyers could look in Indian Land for a "bargain" in Lancaster County versus York County are essentially gone.
Closed sales of homes in Indian Land were up 3.0% versus the same period last year. Meanwhile, pending sales in October 2015 were up double digits by 10.8% versus October 2014. The sizzling hot summer of homes sales in 2015 has continued into the fall selling season!
The average percent of original list price that sellers received for their homes was 96.9% showing how little negotiating room there is on Indian Land homes.
The Indian Land area's October 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 6.6%, 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 - October 2015
Previous Indian Land Housing Market Updates:
- September 2015: http://activerain.com/blogsview/4758246/what-happened-in-indian-land-sc-s-housing-market-in-september-2015-
August 2015: http://activerain.com/blogsview/4739331/what-s-happening-in-charlotte-s-indian-land-housing-market-august-2015
- July 2015: http://activerain.com/blogsview/4719200/july-2015-charlotte-area-housing-update-indian-land-sc
June 2015: http://activerain.com/blogsview/4699771/june-2015-charlotte-housing-market-update-indian-land-sc
- April 2015: http://activerain.com/blogsview/4663349/april-2015-charlotte-housing-market-update-indian-land-sc
- March 2015: http://activerain.com/blogsview/4644022/march-2015-charlotte-housing-market-update-indian-land-sc
- February 2015: http://activerain.com/blogsview/4620673/february-2015-charlotte-housing-market-update-indian-land-sc
- January 2015: http://activerain.com/blogsview/4599402/january-2015-charlotte-housing-market-update---indian-land--sc
- December 2014: http://activerain.com/blogsview/4581472/december-2014-charlotte-housing-market-update---indian-land--sc
- November 2014: http://activerain.com/blogsview/4557460/november-2014-charlotte-housing-market-update---indian-land--sc