Housing Market Update For Indian Land, SC: February 2018

By
Real Estate Agent with Coldwell Banker Realty

 

Indian Land, SC Homes for SaleFebruary 2018 homes sales in the Indian Land, South Carolina area of the Charlotte metro region continued the trends we've seen since 2016 with strong demand for homes resulting in continued increases in home prices, coupled with significant decreases in availability of affordable homes priced under $250,000.

 

The average sale price of homes in the Indian Land area (29707 zip code) increased 8.4% to just under $323,000, while average days on market for property listings increased by 4 days to 52 compared with February 2017. Median days on market were just 23 days in February 2018.

 

Price per square foot also increased by 2.4% to an average of $126/square foot during February. The days when homes in Indian Land in Lancaster County versus adjacent Fort Mill in York County were much less expensive are now a thing of the past.

 

Closed sales of homes in Indian Land were up 1.4% versus the same period last year. Meanwhile, pending sales in February 2018 were up 14.5% versus February 2017. Much of this somewhat anemic performance in closed sales can be attributed to the lack of inventory in homes priced under $235,000 where there is just two months of inventory.

 

The average percent of original list price that sellers received for their homes was 97.6%, indicating minimal negotiating room for Indian Land homes.

 

The Indian Land area's months supply of homes in February 2018 increased by one-half of a month to 3.5 months versus one year ago -- but with less than four months, still continuing to indicate a seller's market in Indian Land, South Carolina.

 

New listings were up 15.4%, but it's worth pointing out that new listings of affordable homes prices under $235,000 were down 11.4% compared with one year ago with only 2.1 months of inventory... clearly putting pressure on closed sales despite the overall increase in new listings.

 

It's worth pointing out that the average sale price of a resale home in Indian Land in February 2018 stood at $308,600 (up 9.6% versus February 2017), while the average sale price of a new construction home stood at $401,085 (up 9.6% versus February 2017). No wonder it's so hard to find homes in Indian Land under $250,000 (new or resale). For those looking for new construction, the difference in average price for resale homes versus new homes  is almost $93,000. Anyone looking for new construction bargains in Indian Land, South Carolina will be disappointed.

 

 

 

Indian Land, SC Area Local Market Update - February 2018

 

 

 

 

 

 

 

  

 

 

SEARCH ALL INDIAN LAND, SC HOMES FOR SALE

 

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WONDERING WHAT YOUR INDIAN LAND, SC AREA HOME IS WORTH?

 

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Previous Indian Land, SC Housing Market Updates:

Indian Land Housing Market Update: January 2018

Indian Land Housing Market Update: December 2017

Indian Land Housing Market Update: November 2017

Indian Land Housing Market Update: October 2017

Indian Land Housing Market Update: September 2017

Indian Land Housing Market Update: August 2017

Indian Land Housing Market Update: July 2017

Indian Land Housing Market Update: June 2017

Indian Land Housing Market Update: May 2017

Indian Land, SC Housing Market Update: April 2017

 Indian Land, SC Housing Market Update: March 2017

Indian Land, SC Housing Market Update: February 2017 

 

  

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. 

 

If you are considering selling or purchasing a home in Indian Land or anywhere in the Charlotte metro area, I'd love an opportunity to earn your business, exceed your expectations, and to prove to you that:

 "The Right Broker Makes All The Difference."

 

 

 Discover Indian Land image credited to DiscoverIndianLand.com

 

Posted by

 

 Nina Hollander, RE/MAX Broker, Realtor

 

 

 

Broker, Realtor, MBA, GRI, ABR, SRES, CDPE, SFR, SPS, CMRS
Carolinas Realty Partners with Coldwell Banker Realty
Direct: 704-779-0813
Website: www.GreatHomesInCharlotte.com
Blog: News You Can Use From The Greater Charlotte Area
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Disclaimer:  Nothing in this blog article is to be construed as legal advice, tax advice, or financial advice.  For legal advice see an attorney.   For tax advice or financial advice see a tax attorney, certified public accountant, or other qualified professional.

 

Comments (30)

Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Nick & Trudy Vandekar, 610-203-4543 ~ hi Nick... Indian Land is still less expensive than adjacent Ballantyne and Waxhaw areas, but way more competitive now that a few years ago. 

Mar 08, 2018 02:35 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Grant Schneider ~ hi Grant... the affordability factor is increasingly raising its ugly head here in the Charlotte area.

Mar 08, 2018 02:36 PM
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Nina it is amazing your area has been able to continue to show positive number with the limited inventory that has been going on for a while.

Mar 08, 2018 04:05 PM
Lottie Kendall
Compass - San Francisco, CA
Helping make your real estate dreams a reality

Very interesting market statistics, and presented clearly for all to see. Lack of inventory is a problem in my area, too.

Mar 08, 2018 05:02 PM
Lisa Von Domek
Lisa Von Domek Team - Dallas, TX
....Experience Isn't Expensive.... It's Priceless!

Your market is "twinning" with mine Nina Hollander low inventory, increased prices and sales!

Mar 08, 2018 06:32 PM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Hi Nina

As always you have shared some useful information for buyers, and sellers, to help them understand what's going on in the local market...and trends that we are seeing here as well. Now those interested buyers and sellers just need to get in touch with you for help with their purchasing and selling decisions in this challenging market.

Jeff

Mar 08, 2018 08:59 PM
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

You always provide good information about your housing market. Thank you for sharing.

Mar 09, 2018 03:20 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

George Souto ~ hi George... we do have parts of the metro area where sales a bit down due to lack of inventory, but somehow we keep managing to pull out sales for our buyers.

Mar 09, 2018 04:22 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Lottie Kendall ~ thanks, Lottie. I suspect there are many of us in the Rain dealing with the thinventory issue!

Mar 09, 2018 04:23 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Lisa Von Domek ~ hi Lisa... "twinning" a new word for me, but I love it. We are twinning with thinventory!

Mar 09, 2018 04:23 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Jeff Dowler ~ hi Jeff... I keep trying to get the word out that waiting to buy or sell will not benefit most people... sellers are really frightened that if they sell quickly, which most do, there won't be another home for them on the other end.

Mar 09, 2018 04:25 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Gita Bantwal ~ thanks, Gita. Trust you've had a good week and are looking forward to a nice weekend and aren't too snowed under.

Mar 09, 2018 04:25 AM
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

Nina Hollander - I like your slide presentation. The music and the pace to read the marketing report was just right. You always careful in how you market your area and what you choose to get the information out in a very professional manner. 

Mar 09, 2018 06:41 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Nina, you do such a great job with your market reports, and valuable information for Indian Land for both buyers and sellers.

Mar 09, 2018 06:44 AM
Roy Kelley
Retired - Gaithersburg, MD

Families moving from the DC Metro Area will love your attractive home prices and the prospect of having lower real estate taxes.

Mar 09, 2018 06:46 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Patricia Feager ~ hi Patricia... thank you; it's easy to do on Lumen and free to make that little video.

Mar 09, 2018 01:08 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Roy Kelley ~ hi Roy... even though we complain about prices and taxes here, compared with many other parts of the country I know we have it good here.

Mar 09, 2018 01:08 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Joan Cox ~ hi Joan... it's hard to compete on google with th ZTR's but I'm always hopeful that my market reports rank right up there after all the big boys.

Mar 09, 2018 01:09 PM
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

Thanks for the reminder about the Indian Land report, you know I don't want to miss it.  I hope that your weekend will be enjoyed my friend!!!

Mar 10, 2018 10:32 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Brian England  well, when I didn't see you I was beginning to worry, Brian... I know how much you look forward to the Indian Land updates!

Mar 10, 2018 10:58 AM