Latest news on the Fort Mill, SC real estate market in February 2023...
What you need to know...
What it means for you...
Fort Mill real estate in February 2023 (29715 and 29708 zip codes) continued to shift with fewer closed sales year-over-year, although increasing month-over-month. New listings were down both year-over-year and month-over-month. Inventory increased from February 2022, but decreased from January 2023. Days on market in February 2023 were the highest Fort Mill has seen since March 2021 when the days on market were also 52. Average and median home prices decreased year-over-year and month-over-month. Median home prices increased slightly year-over-year.
FORT MILL HOUSING MARKET HIGHLIGHTS: FEBRUARY 2023
SALES DOWN YEAR-OVER-YEAR IN FORT MILL | UP MONTH-OVER-MONTH
Sales in February 2023 were 63, up from 60 in January 2023 and down 46.2% from 117 in February 2022. The February 2023 sales were at their lowest level compared with February 2022 (117 sales) and February 2021 (105 sales).
NEW LISTINGS DOWN YEAR-OVER-YEAR & MONTH-OVER-MONTH | INVENTORY UP YEAR-OVER-YEAR
New listings in Fort Mill were 79, down 20.2% from 99 in January 2023. New listings were 29.5% lower than the 112 new listings in February 2022 and the 148 new listings in February 2021.
The number of properties for sale in February 2023 was 282, down 9.3% from January 2023, but 15.6% higher than 244 in February 2022. Inventory in February 2023 was at its highest level compared with February 2022 (244 listings) and January 2021 (257 listings). This was the lowest level of inventory in Fort Mill since June 2022.
AVERAGE DAYS ON MARKET UP DRAMATICALLY YEAR-OVER-YEAR
Average days on market in Fort Mill were 52 days, up 13.04%, from 46 days in January 2023. Days on market were up 36 days compared with February 2022 and up 30 days compared with February 2021. Days on market in February 2023 were the highest Fort Mill has seen since March 2021 when the days on market were also 52.
LIST TO PRICE RATIO RATIO JUST UNDER 99%
The February 2023 list to sale price ratio was 98.99%, virtually equal to the 98.5% ratio in January 2023, but down 2.39% from 101.38% in February 2022. It's been some seven months since Fort Mill's list to sale price ratio was 100% or more.
FORT MILL HOME AVERAGE HOME PRICES DOWN | MEDIAN PRICES UP YEAR-OVER-YEAR
Average home sale prices decreased 17.5% to $442,532 month-over-month from $536,494. Year-over-year, average home prices decreased 7.12% from $476,446 in February 2022. Average home prices were higher compared with February 2021.
Median home sale prices decreased 7.1% to $425,000 in February 2023 from $457,500 in January. Year-over-year, the median sale price rose 3.5% from $410,550 in February 2022. Median home prices were also higher compared with February 2021.
Price per square foot was $200, down $10/square foot (-4.76%) month-over-month. Year-over-year, average price per square foot increased 1.52% from $197 per square foot.
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?
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 8 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.
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, Greater Charlotte area residential real estate experts and Fort Mill specialists. We've been opening doors for Fort Mill home buyers and sellers for 22+ 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