Indian Land, SC Real Estate Report & Housing Market Snapshot: May 2020
Latest news on how corona virus affected the Indian Land real estate market in May and what it means for you...
Indian Land housing market remained a seller's market with just 2.2 months supply of inventory overall, down 40.5% from 3.7 months in May 2019. Housing inventory was down 31.7% in May, overall, with resale inventory down 27.3% and new construction inventory down 48.4%. New construction saw a decrease of 73% in the months supply of inventory down to 1.7 months compared with 6.3 months in May 2019.
Both average and median sale prices increased year-over-year in May to $353,767 and $347,533, respectively. Average sale prices increased 2.7% year-over-year and median sale prices increased 10.3% year-over-year. Average sale prices also increased month-over-month, as did median sale prices. New construction prices were about $88,000 higher, on average, than resale home prices, increasing 14.6% year-over-year.
Closed sales decreased in May by 25.8% year-over-year. Pending sales increased 15.0% year-over-year. A 111.1% increase in home showings in Lancaster County in May 2020 versus April 2020 helped put those pending sales up. With a year-over-year increase in Lancaster County home showings of 4.1% it's clear buyer demand for homes is high.
Average days on market increased to 55 days (up 14 days year-over-year). Median days on market were 11 days (down 4 days year-over-year) and down 1 day month-over-month.
With home sellers receiving 98.7% of asking price in sale price, the negotiating opportunity for home buyers in Indian Land was negligible in May.
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 MAY 2020
Indian Land Housing Market Highlights
May 2020 Versus May 2019
14 HOT INDIAN LAND NEIGHBORHOODS
SEARCH ALL INDIAN LAND, SC 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."
Previous Indian Land, SC Housing Market Updates:
Indian Land Housing Market Update: April 2020
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
Original blog post can be read at: www.GreatHomesInCharlotte.com
Comments(19)