March 2016 homes sales in the Indian Land, South Carolina area of the Charlotte metro region had another excellent month. The average sale price of Indian Land area (29707 zip code area) homes increased 2.3% to just under $283,000, while average days on market for property listings dropped by 11 days to 54 days in March, a 16.9% improvement over the same period last year.
Price per square foot also increased by 2.6% to $117/square foot during March 2016 versus the same period in 2015. Buyers can 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 5.5% versus the same period last year. Meanwhile, pending sales in March 2016 were up 10.5% versus March 2015. Clearly, no slowdown of homes sales in the first three months of 2016 The average percent of original list price that sellers received for their homes was 96.8%, showing how little negotiating room there is for Indian Land homes.
The Indian Land area's months supply of homes in March continued 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 8.8%, which will hopefully relieve some of the pressure of inventory shortage in Indian Land.
Indian Land Area Local Market Update - March 2016
Previous Indian Land, SC Housing Market Updates:
- February 2016: http://activerain.com/blogsview/4848063/what-happened-in-the-indian-land--sc-housing-market-in-february-2016-
- January 2016: http://activerain.com/blogsview/4826571/what-happened-in-the-indian-land--sc-housing-market-in-january-2016-
December 2015: http://activerain.com/blogsview/4809423/what-happened-in-indian-land--sc-s-housing-market-in-december-2015-
- November 2015: http://activerain.com/blogsview/4792284/what-happened-in-indian-land--sc-s-housing-market-in-november-2015-