Fort Mill, SC Median Home Sale Prices Set Record High: July 2022

By
Real Estate Agent with Coldwell Banker Realty

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

What you need to know...

What it means for you...  

 

Fort Mill real estate in July 2022 (29715 and 29708 zip codes) kept home sellers in the driver's seat with the months supply of homes at 1.4 months, fewer days on market, fewer new listings, and higher home sale prices compared with the same month one year ago. Median home prices in Fort Mill set a record high in the month of July 2022.

 

FORT MILL HOUSING MARKET HIGHLIGHTS:

July 2022 vs July 2021

 

Fort Mill, SC Housing Market Snapshot For July 2022

 

CLOSED & PENDING SALES BOTH DOWN IN FORT MILL IN JULY

Pending sales in Fort Mill decreased 27.0%. Closed sales decreased 33.5% year-over-year in July. The recent increases in interest rates have many prospective home buyers pulling back from purchasing a home while reassessing their options as home affordability continues to diminish for many home buyers. Buyer foot traffic was down 43.2% in Fort Mill in July with 10.8 average showings per listed home compared with 14.8 showings the same month one year ago.

 

NEW LISTINGS & HOUSING INVENTORY DOWN IN JULY

New listings decreased 27.1% in Fort Mill, year-over-year, for a second consecutive month. Housing inventory increased 22.5% year-over-year. The months supply of homes increased to 1.4 months from 0.9 months in the same month one year ago and from 1.7 months in the same month two years ago. Fort Mill has been a home seller's market for more than three years and at 1.4 months of inventory remains a home seller's market.

 

AVERAGE DAYS ON MARKET DECREASED IN JULY YEAR-OVER-YEAR & MONTH-OVER-MONTH

Average days on market decreased two days to seven days versus the same month one year ago and were five days lower than in June 2022.  Median days on market were 3, flat year-over-year and month-over-month. However you look at it, Fort Mill homes sold quickly in July.

 

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

Sellers received a median 101.4% of list price, down 1.3% year-over-year. Month-over-month. the list to sale price ratio dropped 1.8%. Despite the decrease, home buyers had minimal negotiating room for Fort Mill homes and clearly were still willing to pay a premium to purchase a home in Fort Mill in the month of July.

 

FORT MILL HOME MEDIAN HOME SALE PRICES AT RECORD HIGH IN JULY

Average home sale prices increased 25.2% in July 2022 versus July 2021.  Median home sale prices increased 22.6%, setting a new record high. Average sale price was $575,268.  Median sale price was $520,000. Average home sale prices are now approximately $179,000 higher than they were July 2020, while median home prices are now approximately $150,000 higher.  Fort Mill homeowners continue to sit on considerable equity.

 

Price per square foot increased to $221, up $38/square foot (+20.8%) year-over-year, setting a new price per square foot record for Fort Mill homes in July 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 (28)

Bill Salvatore - East Valley
Arizona Elite Properties - Chandler, AZ
Realtor - 602-999-0952 / em: golfArizona@cox.net

Strong numbers for sure, hope it maintains for all, Great information.  Thanks for sharing and enjoy your week!

Aug 11, 2022 05:43 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Bill Salvatore - East Valley hi Bill... for now, anyway, Fort Mill seems to be lagging behind many other parts of the country.

Aug 11, 2022 05:47 AM
Ray Henson
eXp Realty of California, Inc. (lic. #01878277) - Elk Grove, CA
Realtor

Congratulations on setting another record.  We hit our record highs about two months ago, had a little price drop and have leveled off now. 

Aug 11, 2022 05:49 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Ray Henson good morning, Ray... it wasn't just the record home prices in July... days on market dropped, new listings dropped... no housing crash in sight despite all the media headlines. I'm sure at some point we'll start levelling off, but it didn't happen in July.

Aug 11, 2022 05:55 AM
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Hi Nina  - looks like a very slight shift but still showing strength for sellers.

Aug 11, 2022 05:58 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Grant Schneider hi Grant... whatever shift there is is imperceptible... home prices setting new records, fewer new listings, days on market down... all while predictions swirled around more new listings, longer time to sell and price reductions.

Aug 11, 2022 06:01 AM
Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Condo and Home Specialists

Home sellers in the drivers seat at Fort Mill...I'm sure homeowners like reading that sentence. But even better, they can call you to list their home and be another SALE!

Aug 11, 2022 06:49 AM
Norma J. Elkins
Elite Realty Group - Morristown, TN
Realtor - Elkins Home Selling Team

7 days on the market is still a wonderful thing.  Looks like you are still hot in your area too.  Hope you have a fabulous day!

Aug 11, 2022 07:25 AM
Eric Bouler
Gardner Realtors, Licensed in La. - New Orleans, LA
Listening to your Needs

Great Morning. You have a lots of comments so far today. You are doing very well with amny friends..

Aug 11, 2022 07:38 AM
Jeffrey DiMuria 321.223.6253 Waves Realty
Waves Realty - Melbourne, FL
Florida Space Coast Homes

It is really crazy to see that graph. The is quite a trajectory. Thanks for the update.

Aug 11, 2022 07:45 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Nina, well, the July stats are out, and nothing has changed in Fort Mill, it remains a strong Seller's market!

Aug 11, 2022 08:09 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400 hi Sheila... for now, sellers are in the driver's seat in Fort Mill. The question that no one can answer is how long it will last.

Aug 11, 2022 09:51 AM
Kathy Streib
Cypress, TX
Home Stager/Redesign

Hi Nina- I took the "tour" of Fort Mill SC and loved what I saw. Even with some areas leveling off, your market still looks  good. 

Aug 11, 2022 09:51 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Eric Bouler thanks, Eric... and do like to think that you're one of my friends here in the Rain, as well.

Aug 11, 2022 09:51 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Jeffrey DiMuria 321.223.6253 Waves Realty hi Jeff... boggles the mind, doesn't it? Median sale prices in 2019 were under $300K. Now they are pushing into the high $500,000's.

Aug 11, 2022 09:53 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Joan Cox hi Joan... now I'm itching to see what August brings us. July was far stronger in much of the Charlotte region than I was expecting.

Aug 11, 2022 09:54 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Kathy Streib hi Kathy... I was reading numerous articles in May and June that the Charlotte region was very overvalued and due for a big correction. Through July, we did not see any big correction. Now we wait to see what August brings us.

Aug 11, 2022 09:55 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Norma J. Elkins hi Norma... I don't expect to see average days on market of 1-3 days anymore. I don't know why anyone would complain about just seven days.

Aug 11, 2022 09:57 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.

Aug 11, 2022 01:48 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Myrl Jeffcoat hi Myrl... thanks for stopping by... trust you've had a good day and are now looking forward to a fabulous Friday.

Aug 11, 2022 02:02 PM