Latest news on the Fort Mill, SC real estate market in April 2023...
What you need to know...
What it means for you...
Key take-aways about the Fort Mill SC (29715 and 29708 zip codes) housing market include:
- Closed sales declined both year-over-year and month-over-month.
- New listings declined compared with April 2022, and were flat compared with March 2023.
- While housing inventory was up compared with April one year ago, it was down from March 2023.
- Days on market were down from one month ago and were 10 days lower than the year-to-date average.
- List to sale price ratio was 99.43% and increased from March 2023.
- Home prices declined slightly from one year ago and one month ago.
FORT MILL HOUSING MARKET HIGHLIGHTS: APRIL 2023
SALES DECLINED FROM MARCH 2023 AND APRIL 2022
Sales in April 2023 were 86, declining 30.5%% from 124 in March 2023. Year-over-year sales declined 35.82% from 134 in April 2022. The April 2023 sales were at their lowest level compared with April 2022 (134 sales) and April 2021 (153 sales).
NEW LISTINGS DOWN YEAR-OVER-YEAR | FLAT MONTH-OVER-MONTH
New listings in Fort Mill were 129, essentially flat compared with March 2023 when there were 128 new listings. New listings were 21.82% lower than the 165 new listings in April 2022. The April 2023 listings were at their lowest level compared with April 2022 (165 new listings) and April 2021 (162 new listings). April's new listings were at their highest level since August 2023, when there were 128 new listings.
FORT MILL INVENTORY UP YEAR-OVER-YEAR | DOWN FROM MARCH 2023
The number of properties for sale in April 2023 was 296, down 1.99% from March 2023. Inventory increased 14.29% compared with April 2022. Inventory in April 2023 was at its highest level compared with April 2022 (259 listings) and April 2021 (246 listings).
AVERAGE DAYS ON MARKET DECLINED MONTH-OVER-MONTH
Average days on market in Fort Mill were 34 days, down 20.93% from 43 days in March 2023. Days on market increased 9 days compared with April 2022 and 21 days compared with April 2021. The April 2023 days on market were at their lowest level in four months.
LIST TO SALE PRICE RATIO INCREASED TO JUST UNDER 100%
The April 2023 list to sale price ratio was 99.43%, increasing 0.52% from March 2023. The list to sale price ratio declined 4.38% from 103.81% in April 2022. It's been some nine months since Fort Mill's list to sale price ratio was 100% or more. Nonetheless, Fort Mill home buyers are not enjoying big discounts on homes and April's list to sale price ratio was at its highest level October 2022,
FORT MILL HOME AVERAGE & MEDIAN SALE PRICES DECLINED SLIGHTLY
Average home sale price declined 2.41% to $478,240 month-over-month from $490,050. Year-over-year, the average home price decreased 4.49% from $500,746 in April 2022.
Median home sale price decreased 4.01% to $414,000 in April 2023 from $431,280 in March. Year-over-year, the median sale price declined 8.2% from $450,987 in April 2022.
Price per square foot was $214, increasing $4/square foot (+1.9%) month-over-month. Year-over-year, average price per square foot was flat.
MEDIAN HOME PRICE TRENDS IN FORT MILL, SC
(12 Month Rolling Average)
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This Greater Charlotte, North Carolina real estate monthly update for Fort Mill, SC is provided by Nina Hollander, Coldwell Banker Realty, Greater Charlotte area residential real estate expert and Fort Mill specialist. I've been opening doors for Fort Mill home buyers and sellers for 24+ 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:
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