Latest news on the Fort Mill, SC real estate market in October 2021 and what it means for you...
Fort Mill's housing market (29715 and 29708 zip codes) remained a seller's market in October with lower inventory, lower months supply of housing, fewer days on market, and higher average and median home sale prices compared with the same month one year ago.
Pending sales increased 2.6%. Closed sales dropped 38.5% year-over-year in October. Lack of inventory limited the number of pending and closed sales in October.
New listings decreased 5.5% in Fort Mill year-over-year. Housing inventory dropped 37.4% year-over-year. The months supply of homes decreased 38.5% to 0.8 months from 1.3 months in the same month one year ago and from 2.2 months in the same month two years ago. The months supply of homes was also 0.1 months lower than in September 2021. Clearly, Fort Mill has been a seller's market for at least three years now.
Average days on market decreased 8 days to 17 days versus the same month one year ago. Median days on market were 5, decreasing 1 day versus the same month one year ago and decreasing 13 days versus October 2019. Average days on market were also one day lower month-over-month. 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 October 2021. On average, listed homes had 15.8 showings, up 39.8% from 11.3 showings in October 2020. In October 2019 listed homes had an average of 6.8 showings. It's a matter of more buyers "chasing" after fewer homes.
Sellers received a median 101.3% of list price, up 1.3% year-over-year. Home buyers had minimal negotiating room for Fort Mill homes.
Average home sale prices increased 8.8% in October 2021 versus October 2020. Median home sale prices increased 11.4%. Average sale price was $417,827. Median sale price was $387,500. Greater demand for homes than supply of homes continues to drive home prices up. Price per square foot increased to $184, up $34/square foot one, year-over-year.
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MORE DETAILS ON THE FORT MILL HOUSING MARKET'S PERFORMANCE
FORT MILL HOUSING MARKET HIGHLIGHTS:
October 2021 vs October 2020
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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.
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