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...
Indian Land, SC (29707 zip code) real estate report/snapshot for February 2020. The Indian Land housing market remains a seller's market with just 2.1 months supply of inventory overall, down 30% from 3 months in February 2019. Housing inventory was down 17.1% in February, overall, with resale inventory down 33.3% to only 1.4 months of supply. New construction inventory stood 2.8 months. The drop in housing inventory is despite an increase in new listings of 31.3%.
Both average and median sale prices increased in Februaryto $340,973 and $329,000, respectively. Average sale prices increased 10.3% year-over-year and median sale prices increased 8.6% year-over-year. Resale home prices increased 9.9% year-over-year.
Both closed sales and pending sales increased significantly in February... closed sales by 49.1% and pending sales by 28% versus February 2019. An increase in new listings no doubt contributed to the increased sales.
Average days on market decreased to 55 days (down 15 days year-over-year) and decreased 12 days month-over-month. Median days on market were 42 days (down 8 days year-over-year).
With home sellers receiving 98.1% of asking price in sale price, there was only a small negotiating opportunity for home buyers.
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Indian Land Housing Market Highlights
February 2020 Versus February 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:
Previous Indian Land, SC Housing Market Updates:
Original blog post can be read at: www.GreatHomesInCharlotte.com