October 2015 showed continued improvement in home sales in the Fort Mill/Tega Cay, South Carolina areas of the Charlotte metro region.
The average sale price of Fort Mill area homes increased by 5.7% to just under $290,000 compared with October 2014, while average days on market for property listings dropped by 9 days to 59 days, a 13.2% improvement over the same period last year. Price per square foot also increased by 3.7% to $113/square foot during October versus the same period in 2014. 
In Tega Cay, average home sale prices were up 1.8% to just over $317,000 versus October 2014, while days on market were down to 62 days, a 26.2% improvement over last year. Price per square foot increased by 1.7% to $115/square foot in October 2015.
Closed sales of homes in Fort Mill were down 0.8% compared with the same period last year with 11 fewer homes closing in the month of October 2015. In Tega Cay, closed sales increased by 12.4% versus October 2014. Pending sales in October 2015 were up in both Fort Mill (+4.0%) and Tega Cay (+11.5%) versus October 2014.
The average percent of original list price that sellers received for their homes was 96.6%, showing how little negotiating room there is on Fort Mill homes, with Tega Cay recording an average percent of original list price of 95.7%.
The Fort Mill/Tega Cay area's months supply of homes is 3.1 months (down 16.2%) and 5.3 months (down 17.2%), respectively--indicating a true seller's market in both Fort Mill and Tega Cay, South Carolina. And with new listings increasing by just 1.0% in Fort Mill (equal to just 16 houses) and 0.7% in Tega Cay (equal to just 3 houses) in October 2015, we can only assume that housing inventory in Fort Mill/Tega Cay will remain tight and homes will continue to sell quickly and close to asking price.
Fort Mill/Tega Cay Areas Local Market Update - October 2015
SEARCH ALL FORT MILL/TEGA CAY AREA HOMES FOR SALE
WONDERING WHAT YOUR FORT MILL/TEGA CAY AREA HOME IS WORTH?
Previous Fort Mill/Tega Cay Housing Market Updates:
- September 2015: http://activerain.com/blogsview/4757677/what-happened-in-fort-mill-tega-cay-s-housing-market-in-september-2015
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August 2015: http://activerain.com/blogsview/4738882/what-s-happening-in-the-fort-mill-tega-cay-housing-market-august-2015
- July 2015: http://activerain.com/blogsview/4718351/july-2015-charlotte-area-housing-update-fort-mill-tega-cay-areas
- June 2015: http://activerain.com/blogsview/4699760/june-2015-charlotte-housing-market-update-fort-mill-sc-area
- April 2015: http://activerain.com/blogsview/4662713/april-2015-charlotte-housing-market-update-fort-mill-sc-area
- March 2015: http://activerain.com/blogsview/4644013/march-2015-charlotte-housing-market-update-fort-mill-sc-area
- February 2015: http://activerain.com/blogsview/4620662/february-2015-charlotte-housing-market-update-fort-mill-sc-area
- January 2015: http://activerain.com/blogsview/4599378/january-2015-charlotte-housing-market-update---fort-mill--sc-area
- December 2014: http://activerain.com/blogsview/4581464/december-2014-charlotte-housing-market-update---fort-mill--sc-area
- November 2014: http://activerain.com/blogsview/4557439/november-2014-charlotte-housing-market-update---fort-mill--sc-area
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