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.
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MORE DETAILS ON HOW THE FORT MILL HOUSING MARKET PERFORMED IN APRIL 2020
FORT MILL HOUSING MARKET HIGHLIGHTS:
APRIL 2020 VERSUS APRIL 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:
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Previous Fort Mill, SC Housing Market Updates:
Fort Mill Housing Market Update: March 2020
Fort Mill Housing Market Update: February 2020
Fort Mill Housing Market Update: Janaury 2020
Fort Mill Housing Market Update: December 2019
Fort Mill Housing Market Update: November 2019
Fort Mill Housing Market Update: October 2019
Fort Mill Housing Market Update: September 2019
Fort Mill Housing Market Update: August 2019
Fort Mill Housing Market Update: July 2019
Fort Mill Housing Market Update: June 2019
Fort Mill Housing Market Update: May 2019
Fort Mill Housing Market Update: April 2019
Original blog post can be read at: https://www.greathomesincharlotte.com
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