Indian Land, SC Median Home Price Set Record High In August 2022

By
Real Estate Agent with Coldwell Banker Realty

Latest news on the Indian Land real estate market in August 2022...

What you need to know...

What it means for you...  

 

The Indian Land, South Carolina (29707 zip code) housing market continued to see a low months supply of homes in August 2022 at 1.4 months supply. Both pending and closed sales dropped in August.  Median home sale prices reached record highs. With a median list to sale price ratio of 100%, Indian Land home sellers remained in the "driver's seat" in August 2022. 

 

 Indian Land Housing Market Highlights

August 2022 August July 2021

Indian Land, SC Housing Market Snapshot For August 2022

 

NEW LISTINGS DECREASED IN AUGUST 2022 | RESALE HOME INVENTORY AT LESS THAN ONE MONTH

Housing inventory increased 17.7% in August, year-over-year. New listings decreased 14.5% year-over-year, despite a 70.4% increase in new construction inventory. Resale inventory increased 24% year-over-year, but still stood at less than one month of supply at 0.9 months.

 

AVERAGE HOME SALE PRICES AT RECORD HIGHS IN JULY 2022

Both average and median sale prices increased year-over-year in August 2022 to $562,611 and $527,500, respectively. Median sale prices saw record highs for Indian Land home prices. Average home sale prices increased 11% year-over-year. Compared with August 2020, average home prices were about $213,000 higher this August.  Median sale prices increased 11.1% year-over-year. Compared with August 2020, median home prices were about $196,000 higher in August 2022. Month-over-month, average home prices were approximately $1,000 lower than in July 2022; median home prices were approximately $18,000 higher than in July 2022.

 

New construction home prices decreased 2.6%, on average, year-over-year. Resale home prices increased 7.1%. In August 2022, prices for new construction homes averaged $581,900 about $57,000 higher than for resale homes.

 

Price per square foot for Indian Land homes increased 15.9% to $204/square foot from $176/per square foot in the same month one year ago.

 

Clearly, Indian Land homeowners who purchased a home in the past several years are sitting on a lot of equity.

 

MEDIAN HOME PRICE TRENDS IN INDIAN LAND, SC

 

CLOSED & PENDING HOME SALES DOWN IN AUGUST 2022

Closed sales decreased in August by 10.9% year-over-year. Pending sales decreased 19.8% versus August 2021. Foot traffic also decreased, with listed homes seeing 7.6 showings, on average, compared with 10 showings in August one year ago. The frenzy we saw in the Indian Land market last summer has clearly abated.

 

INDIAN LAND HOMES CONTINUED TO SELL QUICKLY

Average days on market were 17 days, up 4 days year-over-year, and up 6 days month-over-month. It's worth pointing out that in Indian Land new construction impacts days on market significantly. Last summer, new construction was just about halted in Indian Land. With most of the new inventory coming from new construction, it's not a surprise that average days on market are up.

 

Median days on market were 3 days, flat year-over-year and month-over-month. However you look at it, Indian Land homes sold quickly in August 2022. Compared with August 2020, average days on market were 23 less in August 2022 and median days on market were 9 days lower.

 

INDIAN LAND HOME SELLERS SEEING SALES OVER ASKING PRICE

With home sellers receiving a median 100% of asking price in sale price (down 2.9% year-over-year and down 0.4% month-over-month), the negotiating opportunity for home buyers in Indian Land remained minimal in August 2022. 

 

 MORE INFORMATION ON THE INDIAN LAND, SC HOUSING MARKET'S PERFORMANCE 

 

  Want to know what this would mean for your family if you decide to buy or sell an Indian Land area home?

Contact Nina Hollander if you're curious about the Charlotte real estate market

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.     

 

10 HOT INDIAN LAND NEIGHBORHOODS 

Hottest Selling Neighborhoods In Indian Land, SC

   

SEARCH ALL INDIAN LAND, SC HOMES FOR SALE

Search Indian Land Homes For Sale

Get the Charlotte area homes you want delivered directly to your email from greathomesincharlotte.com

 

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

 

WONDERING WHAT YOUR INDIAN LAND, SC AREA HOME IS WORTH?

If you're thinking about selling your Indian Land area home, let's get together and discuss the supply conditions in Indian Land neighborhoods and how we can assist you in gaining access to buyers who area ready, willing, and able to buy now.

 

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.

What's My Indian Land SC Home Worth? 

 FREE Home Seller Guide: "Things To Consider When Selling Your House"

 

THINKING OF SELLING YOUR HOME? CHECK OUT THE COLDWELL BANKER MARKETING ADVANTAGE 

 

This Charlotte, North Carolina monthly real estate update for Indian Land, South Carolina is provided  by Nina Hollander and Carolinas Realty Partners, Coldwell Banker Realty, Greater Charlotte area residential real estate experts and Indian Land specialists. We've been opening doors for Indian Land home buyers and sellers for 20+ years.

 

If you're considering selling or purchasing a home in Indian Land or anywhere in the Greater Charlotte area, 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 blog 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
Blog: News You Can Use From The Greater Charlotte Area
Search For All Charlotte Area Homes: www.GreatHomesInCharlotte.com 

Charlotte Magazine 5-Star Customer Satisfaction Award Winner Since 2007

 

 Connect with me also on these sites:  

 

facebook twitterlinkedinpinterest

  

                                                                                                                                          

Oh by the way, I'm never too busy for any of your referrals!

 

Find Your Charlotte Home

 

How Much Is My Home Worth       Free Charlotte Relocation Package

 

 

 

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 (18)

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

Who has all the details on Indian Land home prices? That would be Nina Hollander. She has the scoop so work with her!

Sep 17, 2022 05:34 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400 hi Sheila... I'm passing through Indian Land at least three times a week since it's two minutes from my house... so I do keep a close eye on what's happening there.

Sep 17, 2022 05:55 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, the market continues to be very strong, even though DOM have increased a smidge.

Sep 17, 2022 05:57 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Joan Cox hi Joan those DOM increased because of the increase in new construction listings which had essentially disappeared last summer. Take that factor out and homes are selling very quickly.

Sep 17, 2022 05:59 AM
Eric Bouler
Gardner Realtors, Licensed in La. - New Orleans, LA
Listening to your Needs

Have a great wekend. We use to leave near Charleston in Mt. Pleasant...

Sep 17, 2022 06:44 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Eric Bouler thanks, Eric... wishing you a great weekend, as well. I was in Charleston in March for a company function.

Sep 17, 2022 06:53 AM
Ray Henson
eXp Realty of California, Inc. (lic. #01878277) - Elk Grove, CA
Realtor

Indian Land, SC home owners have had an amazing ride the last few years and have more to celebrate with a new record high average sale's price. 

Sep 17, 2022 07:03 AM
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Good morning Nina,

Looks like Indian Land SC home owners are still in the drivers seat and riding the logest wave of appreciation ever received.

Sep 17, 2022 07:05 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Ray Henson hi Ray... the mind boggles looking at home prices in Indian Land... not that long ago it's where I took my "budget" buyers.

Sep 17, 2022 07:59 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Dorie Dillard Austin TX hi Dorie... the strength of and demand for Indian Land real estate never ceases to amaze me.

Sep 17, 2022 08:00 AM
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Nina and you know your numbers and thank you for sharing them with us here in the Rain.  Make it a Special Day!

Sep 17, 2022 09:17 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Will Hamm thanks, Will, for popping by on this beautiful Saturday. Trust your weekend has gotten off to a good start.

Sep 17, 2022 09:53 AM
Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

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

Sep 18, 2022 07:03 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Good morning, Myrl Jeffcoat thanks for stopping by. Wishing you a lovely Sunday and good week ahead.

Sep 18, 2022 07:25 AM
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Nina I would be remiss if I did not comment on your Indian Land Post it always reminds me of the Wild Wilde West and funny you leave near it:)Endre

Sep 18, 2022 11:44 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Endre Barath, Jr. hi Endre... no wild, wild west in Indian Land which is two minutes rom my home... just a nice suburban area mixed in with horse farms (which sadly are quickly disappearing).

Sep 19, 2022 03:46 AM
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

I bet you were thinking that I missed seeing this report.  Here I am, had to come back to find out what is going on in Indian Land, haha.

Sep 19, 2022 06:05 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Brian England hi Brian... I was wondering where you were. Glad you made it to see what's been happening in Indian Land! :)

Sep 19, 2022 06:29 AM