Lancaster County, SC Housing Market Report:
2nd Quarter 2019
Second Quarter 2019 Lancater County, South Carolina home sales kept this County, just below Charlotte's hot Ballantyne area, a seller's market with just 2.5 months of inventory. Lancaster County includes the towns of Indian Land, Lancaster, Fort Mill, Kershaw, and Heath Springs.
The Second Quarter 2019 saw increases in both average and median home sale prices in Lancaster County. Closed sales were also up, while days on market were down, as was the months supply of homes and overall inventory of homes. No doubt that Lancaster County's 2019 spring housing market was hot, hot, hot!
In the second quarter of 2019, Lancaster County saw a:
- 5.4% increase in average sale prices (to $294,637) year-over-year. This was also a $16,000+ average sale price increase over Quarter 1-2019.
- 7.3% increase in median sale price (to $295,000) year-over-year. This was a $13,000 increase over the first quarter 2019 median sale price.
- 15.5% decrease in inventory of homes for sale year-over-year.
- 9.0% increase in closed sales year-over-year.
- 20.0% decrease in the months supply of homes (2.5 months supply) year-over-year.
- Days on market year over year were down 13.3% (49 days on market). This was a 15 day decrease from the first quarter 2019.
- 96.7% percent of original price received, indicating a small window of opportunity for buyers to negotiate on price.
HISTORICAL QUARTERLY MEDIAN HOME SALE PRICES FOR LANCASTER COUNTY, SC
If there's any question about how hot the housing market in Lancaster County has been since 2006, just take a look at what the median sale price was in Quarter 1, 2006 ... about $170,000. By Quarter 2, 2019 median sale price is just under $300,000! And there's nothing on the horizon that would indicate median home prices will fall back any time soon.
DETAILED REPORT FOR LANCASTER COUNTY HOUSING MARKET
This quarterly Lancaster County housing market update is provided 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: