September 2016 homes sales in the Indian Land, South Carolina area of the Charlotte metro region experienced another excellent month as we closed out the third quarter of 2016.
The average sale price of Indian Land area (29707 zip code area) homes increased 7.1% to just over $296,000, while average days on market for property listings dropped by 5 days to 51 days in September, an 8.9% improvement over the same period last year. Median days on market also dropped by 7 days to 24 days compared with one year ago.
Price per square foot also increased by 5.2% to an average of $121/square foot during September 2016 versus the same period in 2015. Home buyers can no longer expect to find "bargains" in Indian Land, as the days when homes in Lancaster County versus adjacent York County are much less expensive are essentially gone and mostly likely gone for good.
Closed sales of homes in Indian Land were up 6.4% versus the same period last year. Meanwhile, pending sales in September 2016 were up by double digits at 13.4% versus September 2015. Clearly, no slowdown of homes sales as the summer selling season wound down and the fall selling season began. The average percent of original list price that sellers received for their homes held steady at 97%, showing minimal negotiating room for Indian Land homes.
The Indian Land area's months supply of homes in September decreased 8.8% to 3.1 months--indicating more of a seller's than a balanced or buyer's market in Indian Land, South Carolina. New listings were up 9.8%, which will hopefully begin to relieve some of the pressure of inventory shortage in Indian Land, especially in the under $300,000 price range.
Indian Land Area Local Market Update - September 2016
Previous Indian Land Housing Market Updates:
- August 2016: http://activerain.com/blogsview/4942335/what-happened-in-indian-land--sc-s-housing-market-in-august-2016
July 2016: http://activerain.com/blogsview/4927214/what-happened-in-indian-land--sc-s-housing-market-in-july-2016-
June 2016: http://activerain.com/blogsview/4910383/what-happened-in-indian-land--sc-s-housing-market-in-june-2016-
May 2016: http://activerain.com/blogsview/4896751/what-happened-in-the-indian-land--sc-housing-market-in-may-2016-
April 2016: http://activerain.com/blogsview/4877355/what-happened-in-the-indian-land--sc-housing-market-in-april-2016-
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-
This Charlotte, North Carolina real estate monthly update for Indian Land, South Carolina is brought to you courtesy of Nina Hollander and Carolinas Realty Partners, RE/MAX Executive, your Charlotte metro area real estate consultants.
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