Indian Land, SC Housing Market Update & Video:
September 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, as well as of inventory in general.
The average sale price of homes sold in the Indian Land area (29707 zip code) in September 2018 increased 2.7% to just over $321,000 compared with September 2017. The median price of homes sold in September increased 9.7% to $317,000 year-over-year.
Average days on market for property listings were 43, down 11 days; median days on market were just 16 days (also down 11 days) in September 2018. However, "affordable" and much in demand resale homes priced under $235,000 saw just 23 average days on market.
Price per square foot also increased by 10.6% to an average of $136/square foot during September. The days when homes in Indian Land in Lancaster County versus adjacent Fort Mill in York County were considerably less expensive are now a thing of the past. In fact, the difference in the average price of an Indian Land home and a Fort Mill home in September 2018 was less than $10,000.
Closed sales of homes in Indian Land increased 16.9% versus September 2017. However, pending sales were down 24.7% most likely due to a drop in new listings of 42.8% during September.
The Indian Land area's months supply of homes in September 2018 decreased 25% to 3.0 months versus one year ago.
New construction remains a factor in Indian Land and it's worth noting that new construction homes are selling at almost $92,000 more, on average, than resale homes at just over $400,000.
The median percent of original list price that sellers received for their homes was 98.3%, indicating minimal negotiating room for Indian Land homes.
Previous Indian Land, SC Housing Market Updates:
This Charlotte, North Carolina real estate monthly update for Indian Land, South Carolina is provided by Nina Hollander and Carolinas Realty Partners with Coldwell Banker Residential Brokerage, your Charlotte metro area residential real estate experts and Indian Land specialists. We've been opening doors for Indian Land home buyers and sellers for 20 years.
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 show you how: