December 2015 homes sales had another excellent 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 2.4% to just under $281,000, while average days on market for property listings dropped by 11 days to 56 days, a 16.4% improvement over the same period last year.
Price per square foot also increased by 2.7% to $116/square foot during December 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 4.2% versus the same period last year. Meanwhile, pending sales in December 2015 were up 7.9% versus December 2014. So much for the forecasts that December could prove to be a slow month for home sales.... certainly not in Indian Land, South Carolina.The average percent of original list price that sellers received for their homes was 97.4%, showing how little negotiating room there is for Indian Land homes.
The Indian Land area's December months supply of homes continues to hover around 3.3 months for two years now--indicating more of a seller's than buyer's market in Indian Land, South Carolina. New listings were up 11.1%, which will hopefully relieve some of the pressure of finding affordable homes for sale in Indian Land.
Indian Land Area Local Market Update - December 2015
Previous Indian Land, SC Housing Market Updates: