Fort Mill, South Carolina Real Estate Report/Housing Market Snapshot: April 2020
Latest news on how corona virus affected the Fort Mill real estate market in April and what it means for you...
Fort Mill's housing market (29715 and 29708 zip codes) definitely felt the impact of COVID-19 stay-at-home restrictions in April 2020, characterized by much lower inventory, fewer new listings, lower months supply of housing, and fewer closed and pending sales, while home prices increased compared with April 2019. Showings of homes dropped 79% in April year-over-year.
Pending sales decreased 33.8% and closed sales decreased 7.7% year-over-year in April. Home showings slowed considerably in the month of April. Fort Mill had 569 home showings in April 2020 compared with 2,687 home showings in April 2019 -- a 79% decrease year-over-year. Not surprising that both closed and pending sales were down.
New listings decreased 40.5% in Fort Mill year-over-year. Housing inventory dropped 30.1% year-over-year. The months supply of homes dropped to 2 months from 2.8 months one year ago.
Average days on market decreased 11 days to 43 days versus the same month one year ago and decreased 10 days month-over-month. Median days on market were 11, decreasing 3 days versus the same month one year ago and decreasing 9 days month-over-month.
Sellers received 98.8% of list price. Buyers had minimal negotiating room for Fort Mill homes.
Average home sale prices increased 7.2% in April 2020 versus April 2019, while median home sale prices increased 20.4%. Average sale price was $371,862 and median sale price was $349,000. Average and median sale prices also increased significantly month-over-month.
Want to know what this would mean for your family if you decide to buy or sell a Fort Mill 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.
FORT MILL HOUSING MARKET HIGHLIGHTS:
APRIL 2020 VERSUS APRIL 2019
Did you know...
Fort Mill has been ranked as the #6 best Charlotte suburb to live in and #7 in the North Carolina region/area as a best suburb to live in?
Why not check out...
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.
THINKING OF SELLING YOUR HOME? CHECK OUT THE COLDWELL BANKER MARKETING ADVANTAGE
RealVitalizeSM is an exclusive Coldwell Banker program that helps with improvements and repairs to prepare your home for sale. We cover upfront costs and get paid back when your home sells. No hidden fees, interest charges or markups.
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