April 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 3.3% to just over $284,000, while average days on market for property listings dropped by 9 days to 52 days in April, a 14.8% improvement over the same period last year.
Price per square foot also increased by 3.5% to $118/square foot during April 2016 versus the same period in 2015. Buyers should no longer be looking 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 3.0% versus the same period last year. Meanwhile, pending sales in April 2016 were up double digits by 11.5% versus April 2015. Clearly, no slowdown of homes sales in the first four months of 2016. The average percent of original list price that sellers received for their homes was 96.9%, showing very little negotiating room for Indian Land homes.
The Indian Land area's months supply of homes in April dropped to 3.2 months--indicating more of a seller's than a balanced or buyer's market in Indian Land, South Carolina. New listings were up 6.8%, which will hopefully relieve some of the pressure of inventory shortage in Indian Land.
Indian Land Area Local Market Update - April 2016
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Previous Indian Land SC Housing Market Updates:
- March 2016: http://activerain.com/blogsview/4860243/what-happened-in-the-indian-land--sc-housing-market-in-march-2016-
- 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-
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December 2015: http://activerain.com/blogsview/4809423/what-happened-in-indian-land--sc-s-housing-market-in-december-2015-
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November 2015: http://activerain.com/blogsview/4792284/what-happened-in-indian-land--sc-s-housing-market-in-november-2015-
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