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.
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.
MORE DETAILS ON THE FORT MILL HOUSING MARKET'S PERFORMANCE
FORT MILL HOUSING MARKET HIGHLIGHTS:
August 2021 vs August 2020
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...
THE 6 HOTTEST FORT MILL/TEGA CAY, SC NEIGHBORHOODS
SEARCH ALL FORT MILL, SC AREA HOMES HERE
FREE Home Buyer Guide "Things To Consider When Buying A Home"
WONDERING WHAT YOUR FORT MILL AREA HOME IS WORTH?
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 FORT MILL HOME? CHECK OUT THE COLDWELL BANKER MARKETING ADVANTAGE
ASK US ABOUT COLDWELL BANKER'S REALVITALIZE PROGRAM
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 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:
"The Right Broker Makes All The Difference."
Read the original post at: www.GreatHomesInCharlotte.com
Subscribe to CommentsComment