Fort Mill, South Carolina Real Estate Report/Housing Market Snapshot: January 2020
Latest news on the Fort Mill real estate market and what it means for you...
The Fort Mill housing market (29715 and 29708 zip codes) remained a seller's market in January 2020, characterized by decreasing inventory, fewer new listings and lower months supply of housing (1.7 months, down from 2.3 months one year ago) compared with January 2019.
Pending sales increased 10.6% in Fort Mill in January 2020 compared with the same month one year ago. Closed sales dropped 36.7% in Fort Mill compared with the same month one year ago. Lack of inventory and fewer new listings were contributors to the weakness in closed sales.
New listings decreased 1.9% in Fort Mill. Housing inventory dropped 20.7% year-over-year.
Average days on market increased 10 days to 55 versus the same month one year ago. Median days on market were 38, also increasing 17 days versus the same month one year ago.
Sellers received 97.7% of list price, showing relatively little negotiating room for Fort Mill homes.
Average home sale prices increased 3.6% in January 2020 versus January 2019, while median home sale prices increased 7.2%. Average sale price was $343,216 and median sale price was $320,000. New construction remains a force in Fort Mill and in January the average cost of a new home at $481,217 was $164,320 higher than the average sale price of a resale home.
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FORT MILL HOUSING MARKET HIGHLIGHTS:
JANUARY 2020 VERSUS JANUARY 2019
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MEDIAN HOME PRICE TRENDS IN FORT MILL, SC
This Charlotte, North Carolina real estate monthly update for Fort Mill, SC is provided by Nina Hollander and Carolinas Realty Partners, Coldwell Banker Residential Brokerage, your Charlotte metro area residential real estate experts and Fort Mill specialists. We've been opening doors for Fort Mill home buyers and sellers for 20+ years.
If you're considering selling or purchasing a home in the Fort Mill area or anywhere in the Charlotte metro region, I'd love an opportunity to earn your business, to exceed your expectations, and to show you how:
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First published at: https://www.greathomesincharlotte.com