Record Home Sale Prices In Fort Mill, SC In May 2022

By
Real Estate Agent with Coldwell Banker Realty

Latest news on the Fort Mill, SC real estate market in May 2022...

What you need to know...

What it means for you...  

 

Fort Mill, South Carolina's average and median home prices reached record highs in May 2022, topping the record high prices in April 2022. Home sellers enjoyed higher list to sale ratios, as well, at 104.2%, up 1.4% year-over-year. 

 

Fort Mill's housing market (29715 and 29708 zip codes) remained a seller's market in May with lower inventory, fewer new listings, fewer average days on market, and higher average and median home sale prices compared with the same month one year ago.

 

FORT MILL HOUSING MARKET HIGHLIGHTS:

May 2022 vs May 2021

 

Fort Mill, SC Housing Market Snapshot For May 2022

 

CLOSED & PENDING SALES BOTH DOWN IN FORT MILL IN MAY

Pending sales in Fort Mill decreased 19.8%. Closed sales decreased 12.4% year-over-year in May. While some of this can be attributed to higher interest rates causing home buyers to "take a breather," low inventory also limited the number of closed and pending sales in May.

 

NEW LISTINGS & HOUSING INVENTORY DOWN IN MAY

New listings decreased 10.8% in Fort Mill year-over-year. Housing inventory dropped 3.9% year-over-year. The months supply of homes increased to 0.7 months from 0.6 months in the same month one year ago and from two months in the same month two years ago. Fort Mill has been a home seller's market for more than three years now.

 

AVERAGE DAYS ON MARKET CONTINUED TO DROP IN MAY

Average days on market decreased 7 days to 13 days versus the same month one year ago and are 18 days lower than they were in May 2020. Month-over-month, days on market dropped by 12 days.  Median days on market were 3, one day more than in the same month one year ago, and decreasing 6 days versus May 2020. Month-over-month, median days on market were flat. No matter how you look at it, Fort Mill homes sold quickly in May.

 

HOMES CONTINUED TO SELL AT OVER 100% OF LIST PRICE IN MAY

Sellers received a median 104.2% of list price, up 1.4% from 102.8% year-over-year. Home buyers had minimal negotiating room for Fort Mill homes.

 

FORT MILL HOME PRICES AT RECORD HIGH LEVELS IN MAY

Average home sale prices set new record highs, increasing 12.1% in May 2022 versus May 2021.  Median home sale prices increased 9.7%, also setting new record highs. Average sale price was $518,529.  Median sale price was $460,750. Month-over-month, average home prices increased approximately $23,000, while median home prices increased almost $11,000. Average home sale prices are now approximately $142,000 higher than they were May 2020, while median home prices are now approximately $136,000 higher.  Greater demand for homes than supply of homes continues to drive home prices up.

 

Price per square foot increased to $213, up $37/square foot (+21.0%) year-over-year. The $213/square foot in May is just under the $215/per square foot set record set in April 2022.

 

MEDIAN HOME PRICE TRENDS IN FORT MILL, SC

   

MORE DETAILS ON THE FORT MILL HOUSING MARKET'S PERFORMANCE

 

Want to know what this would mean for your family if you decide to buy or sell a Fort Mill home?    

Have questions about Fort Mill real estate? Call Nina Hollander for answers.

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.     

 

Did you know... 

Fort Mill has been ranked as the #6 best Charlotte suburb to live in and #7 in the North Carolina region as a best suburb to live in?

 

WELCOME TO FORT MILL, SC: VIDEO

 

Why not check out...

THE 6 HOTTEST FORT MILL/TEGA CAY, SC NEIGHBORHOODS 

 Hottest Selling Neighborhoods In Fort Mill, SC 

 

SEARCH ALL FORT MILL, SC AREA HOMES HERE

Get the properties you want delivered directly to your email for free from greathomesincharlotte.com

 

  FREE Home Buyer Guide "Things To Consider When Buying A Home" 

 

WONDERING WHAT YOUR FORT MILL AREA HOME IS WORTH?

  What's My Fort Mill, SC Home 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.

 

Instant Value For Your Fort Mill, SC HOme

 

 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.

 

RealVitalize Home Improvement Program By Coldwell Banker

 

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 

Posted by

 

 Nina Hollander, RE/MAX Broker, Realtor

 

 

 

Broker, Realtor, MBA, GRI, ABR, SRES, CDPE, SFR, SPS, CMRS
Carolinas Realty Partners with Coldwell Banker Realty
Direct: 704-779-0813
Website: www.GreatHomesInCharlotte.com
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Disclaimer:  Nothing in this blog article is to be construed as legal advice, tax advice, or financial advice.  For legal advice see an attorney.   For tax advice or financial advice see a tax attorney, certified public accountant, or other qualified professional.

 

Comments (16)

Eric Bouler
Gardner Realtors, Licensed in La. - New Orleans, LA
Listening to your Needs

Great Blog this Sunday. You do very well each time you write the blogs...I take more photos and not very many writes....This is a Tulane Building in New Orleans...

Jun 26, 2022 08:53 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Eric Bouler thanks, Eric... I've learned that when I'm dealing with statistics, it's not enough just to post an infographic or chart... the public doesn't know how to interpret the numbers in a meaningful way.

Jun 26, 2022 08:54 AM
Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

Fort Mill home buyers and sellers are sure to value your real estate market report, Nina.

Jun 26, 2022 09:38 AM
Bill Salvatore - East Valley
Arizona Elite Properties - Chandler, AZ
Realtor - 602-999-0952 / em: golfArizona@cox.net

Fort Mills continues to excel. Thank you for sharing the information. Buyers and sellers in your area will benefit from your expertise. Wishing you continued success.  Have a wonderful day and sell a house.  bill

 

Jun 26, 2022 10:29 AM
Kathy Streib
Cypress, TX
Home Stager/Redesign

Hi Nina- the market in Fort Mill, SC is hot like our temperatures!!!   Excellent report for buyers and sellers. 

Jun 26, 2022 11:19 AM
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good afternoon Nina. The Fort Mill market is way too hot to sustain itself. Too hot for its own good. And sellers must be joyful! Enjoy your day.

Jun 26, 2022 11:52 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Myrl Jeffcoat thank you, Myrl, as always for stopping by. Wishing you a lovely week ahead.

Jun 26, 2022 01:27 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Bill Salvatore - East Valley hi Bill... Fort Mill is always in demand due to the top schools... but it's certainly not as affordable as it used to be.

Jun 26, 2022 01:27 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Kathy Streib hi Kathy... hot here, too! They were promising some showers this afternoon, but so far no luck.

Jun 26, 2022 01:28 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Wayne Martin hi Wayne... I agree... when "affordable" areas become unaffordable it does not bode well in the long term.

Jun 26, 2022 01:29 PM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Hi Nina:

I always enjoy reading your market reports, and there just doesn't seem to be much relief for buyers.

And your report answers the 2 key questions you lead off with - what buyers need to know, and what it means for them. Plus it's good information vis-a-vis what we are all seeing in the headlines.

Jeff

Jun 26, 2022 02:17 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Jeff Dowler, CRS hi Jeff... after two crazy years, I see buyers being unrealistic in thinking that home prices will drop because of interest rate increases, which I don't see happening. I also see home sellers who still don't understand that the market is correcting and that they won't get 15 offers in 24 hours.

Jun 26, 2022 03:15 PM
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

Nina Hollander, Broker - Who would have ever imagined trends like this before? It makes it very difficult and extremely challenging for buyers who really have to move, such as first time home buyers, renters, newly divorced, etc. A bunch of stats means nothing to them. They need someone to guide them and explain to them what's happening without scaring them. Your truthful marketing reports is what gets you so many buyers and sellers. 

Jun 27, 2022 02:42 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Patricia Feager, MBA, CRS, GRI,MRP thanks, Patricia. We forget that it's also very stressful for home sellers right now... market is correcting a bit, but hard to say how much and what impact that has on their asking prices.

Jun 27, 2022 04:23 AM
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

Fort Mill seems to be a little more affordable than some of the other areas but the prices are definitely still high.

Jun 27, 2022 05:23 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Brian England good morning, Brian... Fort Mill has passed the "affordable" stage some time ago. It's where I used to take buyers on a budget who wanted top schools... but haven't been able to do that in years. My last two Fort Mill sales were in the serious $500,000's and in the mid-$600,000's.

Jun 27, 2022 05:34 AM