Latest news on the Fort Mill, SC real estate market in August 2021 and what it means for you...
Fort Mill's housing market (29715 and 29708 zip codes) remained a seller's market in August with significantly lower inventory, lower months supply of housing, fewer days on market, and higher average and median home sale prices. With homes selling in just nine days on average, buyers need to act fast! It's going, going, gone in Fort Mill, South Carolina.
Pending sales decreased 16.5%. Closed sales dropped 6.2% year-over-year in August. Lack of inventory limited the number of pending and closed sales in August.
New listings decreased 12.5% in Fort Mill year-over-year. Housing inventory dropped 45.2% year-over-year. The months supply of homes decreased 50.0% to 0.8 months from 1.6 months in the same month one year ago and from 2.3 months in the same month two years ago. Clearly, Fort Mill has been a seller's market for at least five years now.
Average days on market decreased 25 days to 9 days versus the same month one year ago. Median days on market were 3, decreasing 5 days versus the same month one year ago and decreasing 25 days versus August 2019. Newly listed homes continue to sell as fast as they come on the market.
Pent-up demand for Fort Mill homes was also evident in the number of average showings per listing in August 2021. On average, listed homes had 13.7 showings, up 25.7% from 10.9 showings in August 2020. In August 2019 listed homes had an average of 8.4 showings. It's a matter of more buyers "chasing" after fewer homes.
Sellers received a median 102.1% of list price, up 3.5% year-over-year. Home buyers had minimal negotiating room for Fort Mill homes.
Average home sale prices increased 25.8% in August 2021 versus August 2020. Median home sale prices increased 121.7%. Average sale price was $484,600 (almost $30,000 higher than in July 2021). Average home prices have increased about $128,000 in the two years since August 2019. Median sale price was $415,000. Median home sale prices have increased about $94,000 in the two years since August 2019. Greater demand for homes than supply of homes continues to drive home prices up. Price per square foot increased to $186, up $37/square foot one, year-over-year.
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FORT MILL HOUSING MARKET HIGHLIGHTS:
August 2021 vs August 2020
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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?
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MEDIAN HOME PRICE TRENDS IN FORT MILL, SC
This Greater Charlotte, North Carolina real estate monthly update for Fort Mill, SC is provided by Nina Hollander and Carolinas Realty Partners, Coldwell Banker Realty, your Greater Charlotte 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 why experience matters and how:
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