Did Corona Virus Affect The Value Of Indian Land Home In April 2020?

By
Real Estate Agent with Coldwell Banker Realty
https://activerain.com/droplet/5nhP

 

Indian Land, SC Real Estate Report & Housing Market Snapshot: April 2020

 

Latest news on how corona virus affected the Indian Land real estate market in April and what it means for you...

 

Corona virus restrictions significantly impacted home showings (down 40% compared with April 2019). As a result closed sales, inventory of homes, days on market, months supply of homes were all down and home prices were up. The bright spot was an increase in pending sales despite pandemic restrictions.

 

Indian Land, SC (29707 zip code) real estate report for April 2020. The Indian Land housing market remains a seller's market with just 2.5 months supply of inventory overall, down 28.6% from 3.5 months in April 2019. Housing inventory was down 15.9% in April, overall, with resale inventory down 19.7%. The months supply of resale homes was 1.9 months in April 2020 compared with 2.3 months in April 2019. New construction saw a decrease of almost 60% in the months supply of homes at 2.4 months in April 2020 compared with 5.8 months the year prior.

Both average and median sale prices increased in April to $350,177 and $325,000, respectively. Average sale prices increased 0.2% year-over-year and median sale prices increased 0.7% year-over-year. Average sale prices also increased month-over-month, while median sale prices were flat month-over-month. New construction prices were about $57,000 higher, on average, than resale home prices, increasing 8.2% year-over-year.

Closed sales decreased in April by 12.2% year-over-year. Pending sales increased 13.0% versus April 2019. With home showings significantly down in April 2020, it's not a surprise that closed sales were down. The increase in pending sales, however, is a good "surprise," given the fact that April 2020 saw just 566 home showings compared with 1,418 in April 2020.

Average days on market dropped to 46 days (down 8 days year-over-year) and were down 3 days month-over-month.  Median days on market were 12 days (down 6 days year-over-year) and down 8 days month-over-month. 

With home sellers receiving 99.0% of asking price in sale price (up 0.9% year-over-year), the negotiating opportunity for home buyers in Indian Land was negligible in April. 

 

  

Want to know what this would mean for your family if you decide to buy or sell an Indian Land area home?

We can help.

Call us today at 704-779-0813 or contact us here.

There’s absolutely NO OBLIGATION. A consultation with Carolinas Realty Partners is FREE

 

 

 MORE INFORMATION ON THE INDIAN LAND, SC HOUSING MARKET'S PERFORMANCE IN APRIL 2020

 

 

 Indian Land Housing Market Highlights

April 2020 Versus April 2019

 


Indian Land (29707 Zip Code) Housing Market Report April 2020
 

 

 

 

 14 HOT INDIAN LAND NEIGHBORHOODS 

 

 

 

 

 

SEARCH ALL INDIAN LAND, SC HOMES FOR SALE

 

Search for Indian Land Homes For Sale

 

 

 

  

  FREE Home Buyer Guide "Things To Consider When Buying A Home," 

 

 

WONDERING WHAT YOUR INDIAN LAND, SC AREA HOME IS WORTH?

 

If you're thinking about selling your Indian Land area home, let's get together and discuss the supply conditions in Indian Land neighborhoods and how we can assist you in gaining access to buyers who area ready, willing, and able to buy now.

   

 

Contact us if you'd like to receive our Neighborhood Analyzer Report on a monthly basis so you can keep track of home sales activity in your neighborhood.

We're happy to provide an expert home value analysis with no obligation on your part.

 

 FREE Home Seller Guide: "Things To Consider When Selling Your House"

 

 

THINKING OF SELLING YOUR HOME? CHECK OUT THE COLDWELL BANKER MARKETING ADVANTAGE 

 

 

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 Realty, 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:

 "The Right Broker Makes All The Difference." 

 

  

Great Homes In Charlotte

 

 

Previous Indian Land, SC Housing Market Updates:

 

Indian Land Housing Market Update: March 2020

Indian Land Housing Market Update: February 2020

Indian Land Housing Market Update: January 2020

Indian Land Housing Market Update: December 2019

Indian Land Housing Market Update: November 2019

Indian Land Housing Market Update: October 2019

Indian Land Housing Market Update: September 2019

Indian Land Housing Market Update: August 2019

Indian Land Housing Market Update: July 2019

Indian Land Housing Market Update: June 2019

Indian Land Housing Market Update: May 2019

Indian Land Housing Market Update: April 2019

 

 

 

Original  blog post can be read at: www.GreatHomesInCharlotte.com

 

 

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SEARCH ALL CHARLOTTE METRO AREA HOMES HERE

 

 Nina Hollander, RE/MAX Broker, Realtor

 

 

 

 

 

 

Nina Hollander

Broker, Realtor, MBA, GRI, ABR, SRES, CDPE, SFR, SPS, CMRS
Carolinas Realty Partners with Coldwell Banker Realty
Direct: 704-779-0813
Website: www.GreatHomesInCharlotte.com
Blog: News You Can Use From Charlotte/Ballantyne/Waxhaw/Fort Mill
Search For All Charlotte Area Homes: www.GreatHomesInCharlotte.com 

Charlotte Magazine 5-Star Customer Satisfaction Award Winner Since 2007

 

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Disclaimer:  Nothing in this blog article is to be construed as legal advice, tax advice, or financial advice.  For legal advice see an attorney.   For tax advice or financial advice see a tax attorney, certified public accountant, or other qualified professional.

 

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Rainmaker
856,054
Doug Dawes
Keller Williams Realty - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

Good Morning Nina Hollander 

Looks like Real Estate in Indian Hills is holding its own and doing ok. 

May 16, 2020 08:07 AM #1
Rainmaker
3,450,019
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Doug Dawes hi Doug... we really do need more inventory because the demand for affordable homes isn't abating in my area.

May 16, 2020 09:37 AM #2
Rainmaker
5,775,735
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

This is very good information to share with prospective home sellers and home buyers.

May 16, 2020 10:13 AM #3
Rainmaker
3,408,367
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Nina,  I know that people are asking that question all the time now what the market is going to do now.  Great blog.

 

May 16, 2020 10:51 AM #4
Rainmaker
1,369,738
Sheri Sperry - MCNE®
Coldwell Banker Realty - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

Hi Nina Hollander - I thought 2019 was bad for inventory!  Well, that doesn't compare to right now.  Indian Land will fair well as we pull out of this. 

May 16, 2020 11:13 AM #5
Rainmaker
3,450,019
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Will Hamm hi Will... thank you. Lots of questions out there right now about every aspect of the home buying and selling process... and we sure don't have all the answers as yet.

May 16, 2020 01:43 PM #6
Rainmaker
3,450,019
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Sheri Sperry - MCNE® oh no kidding Sheri! In 2019 I kept thinking how much longer could we "survive" with constantly shrinking inventory. Hard to sell what's not there to sell. Boy are we ever finding out now! Hopefully, as we gradually reopen, May and June will start bringing some relief.

May 16, 2020 01:45 PM #7
Rainmaker
3,450,019
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Roy Kelley hi Roy... hopefully buyers who think they'll be picking up bargains will be disabused of that notion.

May 16, 2020 01:46 PM #8
Rainmaker
2,139,809
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good evening Nina Hollander - the prices appear to be holding which is good news.

May 16, 2020 06:40 PM #9
Rainmaker
3,163,605
James Dray
Fathom Realty - Bentonville, AR
Exceptional Agents, Outstanding Results

Morning Nina.

With the showings down 40% but the price up.  Good for the sellers, not so much for the buyers.

May 17, 2020 12:52 AM #10
Rainmaker
3,450,019
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Grant Schneider hi Grant... prices are holding up because there's little inventory. The question is what might happen to prices if there's a sudden influx of inventory once people feel more comfortable in listing their homes.

May 17, 2020 04:27 AM #11
Rainmaker
3,450,019
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

James Dray good morning, James... prices stay up because there's still more demand than supply, especially for affordable homes. I'm hearing about a lot of multiple offer situations for those homes, leaving behind some very disappointed buyers.

May 17, 2020 04:29 AM #12
Rainmaker
3,923,730
Dorie Dillard CRS GRI ABR
Coldwell Banker United Realtors® ~ 512.750.6899 - Austin, TX
Serving Buyers & Sellers in NW Austin Real Estate

Good morning Nina Hollander ,

Good news for Indian Land homes. The need for affordable homes will continue and with the low inventory it makes it hard for buyers because they will be in multiple offers competing leaving some disappointed and disillusioned.

May 17, 2020 06:01 AM #13
Rainmaker
3,450,019
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Dorie Dillard CRS GRI ABR hi Dorie... we are seeing inventory drop like crazy across the entire Charlotte region and home prices going up. Lots of disappointed buyers out there who have lost out in a multiple offer situation.

May 17, 2020 06:16 AM #14
Rainmaker
2,885,610
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

Oh no, not Indian Land too!  I know that Indian Land will stay strong and survive, then thrive!

May 17, 2020 07:37 AM #15
Rainmaker
3,450,019
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Brian England hi Brian... sorry to say, but no area is totally immune from the corona virus impact! 

May 17, 2020 08:47 AM #16
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