Lancaster County, SC Region Housing Market Report:
1st Quarter 2019
First Quarter 2019 Lancater County, South Carolina home sales kept the county a seller's market with less than three months of inventory. Lancaster County includes the towns of Indian Land, Lancaster, Fort Mill, Kershaw, and Heath Springs.
During the first quarter of 2019, Lancaster County saw inventory and months supply of homes decrease compared with the same time frame one year ago. Days on market also decreased. Closed sales decreased, at least in part due to lack of affordable inventory. The median sale price of homes increased, while the average price of homes decreased slightly. Home sale prices decreased primarily in the smaller, rural towns in Lancaster County, but continued to increase where home demand is greatest in Indian Land/Fort Mill (29707 zip code), which are now essentially bedroom communities for Charlotte. It's also in Indian Land/Fort Mill that the median home price is $315,000 compared with the County as a whole.
In the first quarter of 2019, Lancaster County saw a:
- 2.0% decrease in average sale prices (to 278,339) year-over-year.
- 4.2% increase in median sale price (to $282,500) year-over-year.
- 9.0% decrease in inventory of homes for sale year over year.
- 2.0% increase in closed sales year over year.
- 14.8% decrease in the months supply of homes (2.8 months supply) year over year.
- Days on market year over year were decreased 7.5% (64 days on market).
- 96.9% percent of original price received, indicating a small window of opportunity for buyers to negotiate on price.
DETAILED REPORT FOR LANCASTER COUNTY HOUSING MARKET
This quarterly Lancaster County housing market update is brought to you by Nina Hollander and Carolinas Realty Partners with Coldwell Banker Residential Brokerage, your Charlotte metro area residential real estate experts. We've been opening doors for Lancaster County home buyers and sellers for 20+ years.
If you're considering selling or purchasing a home in Lancaster County, I'd love an opportunity to earn your business, exceed your expectations, and to show you how: