Indian Land, SC Real Estate Report & Housing Market Snapshot: January 2020
Latest news on the Indian Land real estate market and what it means for you...
The Indian Land housing market remains a seller's market with just 2.1 months supply of inventory overall, down a full month from 3.1 months in January 2019. Housing inventory was down 19.4% in January, overall, with resale inventory at only 1.5 months of supply. New construction inventory stood 2.3 months, down from 3.1 months of supply in the prior month of December. Whether you're looking a resale or new construction inventory, it's razor-thin.
Both average and median sale prices increased in January to $326,689 and $335,000, respectively. Average sale prices increased 0.9% year-over-year and median sale prices increased 4.9% year-over-year.
Both closed sales and pending sales increased significantly in January... closed sales by 10.9% and pending sales by 50.7% versus January 2019.
Average days on market increased to 67 days (up 16 days year-over-year), but decreased 13 days from December 2019. Median days on market were 42 days (increased 16 days year-over-year), but down 6 days from December 2019. New construction throughout Indian Land keeps the cumulative days on market somewhat higher.
At an average sale price of $384,975 new construction homes sold at a $76,000+ premium over resale homes in January 2020. With home sellers receiving 97.1% of asking price in sale price, there was a small negotiating opportunity for home buyers.
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Indian Land Housing Market Highlights
January 2020 Versus January 2019
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MEDIAN HOME PRICE TRENDS IN INDIAN LAND, SC
This Charlotte, North Carolina monthly real estate update for Indian Land, South Carolina is provided by Nina Hollander and Carolinas Realty Partners, 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're 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, to exceed your expectations, and to show you how:
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