Indian Land, SC (29707 Zip Code) Housing Market Update/Video: May 2018

By
Real Estate Agent with Coldwell Banker Residential Brokerage

 

Indian Land, SC Housing Market Update & Video: May 2018

 

May 2018 homes sales in the Indian Land, South Carolina area (29707 zip code) 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 6.2% to just under $325,000. 

 

Average days on market for property listings were 51. Median days on market were just 22 days in May 2018. It's worth pointing out that average days on market for resale homes were 45, while for new construction they were 60 days, which is what skews that number due to all the new construction sales in Indian Land. Meantime, "affordable" and much in demand homes priced under $235,000 saw only 17 days on market. And days on market for new construction affordable homes stood at 27 days, considerably lower than for new construction homes as a whole.

 

Price per square foot also increased by 2.4% to an average of $127/square foot during May. 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 13.5% versus the same period last year. Meanwhile, pending sales in May 2018 were up 24.6% versus May 2017. Increases in both pending and closed sales can be attributed to the increases in new listings and inventory as compared with the same period last year.

 

The median percent of original list price that sellers received for their homes was 98.2%, indicating minimal negotiating room for Indian Land homes.

 

The Indian Land area's months supply of homes in May 2018 increased 17.8% to 3.4 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 21.3%, but it's worth pointing out that new listings of affordable homes priced under $235,000 were down 5.4% compared with one year ago with less than one month of inventory available.

 

Also worth pointing out is that the average sale price of a resale home in Indian Land in May 2018 stood at just over $308,000 (up 5.8% versus May 2017), while the average sale price of a new construction home stood at $395,732 (up 5.2% versus May 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 just over $87,000. Anyone looking for new construction bargains in Indian Land, South Carolina will be disappointed.

 

   

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: April 2018

Indian Land Housing Market Update: March 2018

Indian Land Housing Market Update: February 2018

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

 

  

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 residential real estate experts and Indian Land specialists.

 

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."

 

 

 

Posted by

 

SEARCH ALL CHARLOTTE METRO AREA HOMES HERE

 

 Nina Hollander, RE/MAX Broker, Realtor

 

 

 

 

 

 

Nina Hollander

Broker, Realtor, MBA, GRI, ABR, SRES, CDPE, SFR, SPS, CMRS
Carolinas Realty Partners with Coldwell Banker Residential Brokerage
Direct: 704-779-0813
Website: www.GreatHomesInCharlotte.com
Blog: News You Can Use From Charlotte/Ballantyne/Waxhaw/Fort Mill
Search For All Charlotte Area Homes: www.GreatHomesInCharlotte.com 

2007 - 2019 Charlotte Magazine 5-Star Customer Satisfaction Award Winner

 

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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.

 

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Rainmaker
3,056,278
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Gabe Sanders ~ good morning, Gabe. Thanks for popping by. Trust your week has gotten off to a great start.

Jun 11, 2018 07:05 AM #11
Rainmaker
3,056,278
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Roy Kelley ~ good morning, Roy... as always, nice to have you stop by. Wishing you a lovely Monday.

Jun 11, 2018 07:06 AM #12
Rainmaker
704,251
Richard Bazinet /MBA, CRS, ABR
West USA Realty - Scottsdale, AZ
Phoenix Scottsdale. Sellers, Buyers & Relocations

Great update! Love it. You have a very fast market, and again very similar to the Phoenix Scottsdale market. I had a question already from a client this morning - where is all this going?

Jun 11, 2018 07:09 AM #13
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Jim Crawford
Crye-Leike REALTORS® - Atlanta, GA
Jim Crawford Atlanta Best Listing Agents & REALTOR

Nina Hollander Thank you for this market presentation, it's most informative.  This is exactly the type of information that buyers and sellers need to make informed decisions. Well done!

Jun 11, 2018 07:17 AM #14
Rainmaker
3,056,278
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Richard Bazinet /MBA, CRS, ABR ~ when I get asked that question I just tell them that we can continue to expect the same trends for the forseeable future, but beyond that some naughty fairy broke my crystal ball. 

Jun 11, 2018 07:18 AM #15
Rainmaker
3,056,278
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Jim Crawford ~ good morning, Jim... thanks much for stopping by and for the great compliment! I really appreciate it.

Jun 11, 2018 07:19 AM #16
Rainmaker
577,968
Pat Starnes-Front Gate Realty
Front Gate Real Estate - Brandon, MS
601-991-2900 Office; 601-278-4513 Cell

A lot of work goes into compiling the market update for any area, and you've done a phenomenal job on the analysis for Indian Land, SC. 

Jun 11, 2018 08:26 AM #17
Rainmaker
3,056,278
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Pat Starnes, Brandon, MS ~ thanks so much Pat. I come from the school of thought that if I'm going to do something, I'm doing it "right."

Jun 11, 2018 08:45 AM #18
Rainmaker
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Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Nina,

This past week, we had a lenghty discussion on the paucity of 'affordable" homes, which is where is so many places there is a thin inventory.  Nice report on Indian Land, SC.  How far is that from Charlotte?  A

Jun 11, 2018 09:21 AM #19
Rainmaker
1,600,630
Jeremy K. Frost
Keller Williams Realty - Dripping Springs, TX
Associate Broker, CNE, CRS, ePro, PSA

Always good to me in the loop. Thank you for sharing and best of luck!

Jun 11, 2018 09:57 AM #20
Rainmaker
1,897,417
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good afternoon Nina - Indian Land, SC is certainly showing pressure on the lower price homes.

Jun 11, 2018 10:22 AM #21
Rainmaker
1,593,970
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co. Notary Services, retired Realtor

One can only imagine how the community would grow and benefit if a developer could find a way to bring some affordable housing into the Indian Head Land market Nina Hollander 

Jun 11, 2018 12:33 PM #22
Rainmaker
3,056,278
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Ron and Alexandra Seigel ~ hi Alexandra.... maybe we need to start a different definition for "affordable." Indian Land is just over the border from south Charlotte (Ballantyne area where I live) in South Carolina. I can be there in about 5 minutes with traffic lights. I buy all my gas there as SC taxes are way lower than in NC. Although it's in a different state, it's essentially a bedroom community for Charlotte now. The last neighborhood we lived in before our current had half the homes in Charlotte and half in Indian Land.

Jun 11, 2018 01:45 PM #23
Rainmaker
3,056,278
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Bob "RealMan" Timm hi Bob... this is the fastest growing area of Charlotte metro right now... the problem is that the land is so expensive developers can't do modestly priced homes here anymore. 20 years ago when Indian Land was beginning to be a blip on the map it was all about entry level and affordable homes... and these now are quite expensive as well.

Jun 11, 2018 01:46 PM #24
Rainmaker
3,056,278
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Grant Schneider hi Grant... Indian Land is no different than all the other areas adjoining the city of Charlotte that were know for their "affordability" for entry level buyers. It's all gone out the window.

Jun 11, 2018 01:47 PM #25
Rainmaker
3,056,278
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Jeremy K. Frost thanks, Jeremy, for stopping by. Trust you are doing well and that your week has gotten off to a good start.

Jun 11, 2018 01:49 PM #26
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Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

Good update on Indian Land, SC. Buyers and sellers should call you for their next Indian Land home, Nina.

Jun 11, 2018 08:02 PM #27
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Paul S. Henderson, REALTOR®, CRS
RE/MAX Northwest. - Tacoma, WA
Tacoma Washington Agent/Broker & Market Authority!

Market updates done on videos with Pleasant music really tells the story right Nina!

Jun 11, 2018 10:21 PM #28
Rainmaker
3,056,278
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Paul S. Henderson, REALTOR®,CRS, ~ isn't that funny, Paul... I always have my computer on mute because I personally don't want to hear background music... but I know that lots of people do.

Jun 12, 2018 02:54 AM #29
Rainmaker
3,056,278
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Debbie Reynolds thanks, Debbie... Indian Land has become a major hot spot in the Charlotte area and is now the fastest growing part of the area.

Jun 12, 2018 02:55 AM #30
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