January 2016 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 2.9% to just over $281,000, while average days on market for property listings dropped by 12 days to 55 days, a 17.9% improvement over the same period last year.
Price per square foot also increased by 2.7% to $116/square foot during January versus the same period in 2015. Buyers should no longer look in Indian Land for a "bargain" as the days when homes in Lancaster County versus York County are much less expensive are essentially gone.
Closed sales of homes in Indian Land were up 4.4% versus the same period last year. Meanwhile, pending sales in Janaury 2016 were up 8.7% versus January 2015. Clearly, no slowdown of homes sales in the first month of 2016 The average percent of original list price that sellers received for their homes was 96.7%, showing how little negotiating room there is for Indian Land homes.
The Indian Land area's January months supply of homes continues to hover around 3.3 months for a third year now--indicating more of a seller's than buyer's market in Indian Land, South Carolina. New listings were up 8.7%, which will hopefully relieve some of the pressure of inventory shortage in Indian Land.
Indian Land Area Local Market Update - January 2016
Previous Indian Land, SC Housing Market Updates: