Fort Mill, South Carolina Real Estate Report/Housing Market Snapshot: February 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 February 2020, characterized by decreasing inventory, fewer new listings, lower days on market and lower months supply of housing (1.6 months down from 2.4 months one year ago) compared with February 2019.
Pending sales increased 4.9% in February. Closed sales dropped 2% year-over-year in February, mostly likely due to the lack of inventory coupled with fewer new listings and not due to a lack of demand for Fort Mill homes.
New listings decreased 16.1% in Fort Mill year-over-year. Housing inventory dropped 28.8% year-over-year.
Average days on market decreased 20 days to 41 days versus the same month one year ago. Month-over-month days on market also dropped -- by 14 days. Median days on market were 14, decreasing 19 days versus the same month one year ago. Month-over-month, median days on market dropped by 24 days.
Sellers received 98.8% of list price, showing relatively little negotiating room for Fort Mill homes.
Average home sale prices increased 1.2% in February 2020 versus February 2019, while median home sale prices increased 1.5%. Average sale price was $341,332 and median sale price was $305,950.
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FORT MILL HOUSING MARKET HIGHLIGHTS:
FEBRUARY 2020 VERSUS FEBRUARY 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 Realty, 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:
Previous Fort Mill, SC Housing Market Updates:
Original blog post can be read at: https://www.greathomesincharlotte.com