How did the Fort Mill and Tega Cay housing markets do in June 2019? Both the Fort Mill and Tega Cay, SC housing markets remained seller markets in June 2019, characterized by decreasing inventory and months supply of housing compared with June 2018. Pending sales were up considerably in both Fort Mill (+64.9%) and Tega Cay (+35%) in June. While closed sales were down 5% in Fort Mill, in Tega Cay they increased 7%. Median days on market have homes selling in under 18 days in both Fort Mill and Tega Cay. New listings increased in both towns.
Indian Land, SC housing market (29707 zip code) update for June 2019. The Indian Land housing market remains a seller’s market with just 3.1 months supply of inventory overall, but with only 2.1 months supply of resale homes. While new listings increased 4%, most of the increase was from new construction. Moreover, resale home inventory dropped 28.7% in June versus the same month one year ago. Average sale prices in June were relatively flat, while the median sale price of Indian Land homes increased 6.8% in June 2019, with new construction homes selling at about $40,000 more on average than resale homes. With home sellers getting 97.9% of selling price, not much room for buyers to negotiate. Pending sales increased almost 29% year-over-year, while closed sales were down 3%, most likely due to lack of resale inventory.
June 2019 Charlotte region housing update + video. Charlotte region remained a seller’s market in June 2019 with inventory remaining extremely tight and dropping 14% compared with the same time period one year ago. Lack of inventory and new listings resulted in higher home list and sale prices year-over-year, year-to-date, and month-over-month. Closed sales were down, but pending sales were up 16.3% year-over-year. The housing affordability index continued to decrease, as well. Months supply of homes remained very low at 2.3 months and even lower for homes priced under $200,000. Year-to-date trends are all also showing increased prices, higher sales, and tight inventory.
Waxhaw housing market update and video for June 2019. The Waxhaw area of the Charlotte, North Carolina metro area (the 28173 zip code–encompassing the three towns of Waxhaw, Marvin and Weddington) continued to see tight inventory (dropping 26.1% year-over-year) and a continued decrease (down 9.3%) in new listings year-over-year. With continued tight inventory and fewer new listings, Waxhaw area remains a seller’s market. Lack of inventory is putting a strain on closed sales.
Matthews housing report/video for June 2019. Matthews remained a seller’s market in June 2019 with the months supply of inventory at 2.1 months. Inventory was flat, but new listings were down in almost 10% in June. Lack of new listings and tight inventory contributed to decreases in closed and pending sales. Average sale prices of homes increased significantly (9.7%) year-over-year, as well as month-over-month. Median prices also increased 7.4% versus June 2018 and by approximately $30,000 month-over-month. Although, days on market increased in June 2019, homes are still selling quickly — in under 30 days on average and with median days on market at 12 days. With homes selling at 98.5% of asking price, buyers have minimal to negotiate.
Indian Trail Housing Market Update/Video May 2019. Indian Trail, NC (28079 zip code) area includes the towns of Stallings, Hemby Bridge, and Lake Park in Union County. The Indian Trail area saw an increase in both average and median home prices year-over-year, as well as month-over-month. Prices continued to increase as the months supply of homes for sale remained low at just 2.4 months (dropping 11.1% versus one year ago) and inventory dropping 10% versus one year ago. Although days on market are up somewhat compared with June 2018, median days on market in June 2019 were just 15 days. With median selling price of 98.3% of list price, not much room for buyers to negotiate.
Ballantyne Housing Market Update/Video: June 2019. Average Ballantyne home sale prices increased significantly in June 2019 compared with the same month one year ago and the prior month of May 2019. Ballantyne homes, on average, sold in under one month. Pending sales were up 27.6% in June. The months supply of homes remained low at 2.1 months and a 14.2% drop in housing inventory kept the Ballantyne area/28277 zip code housing market a seller’s market.
Southwest Charlotte/Steele Creek housing update for May 2019. Charlotte, North Carolina’s Southwest/Steele Creek areas (28273 and 28278 zip codes) remain fundamentally seller markets with tight inventory and homes selling at higher prices. The Steele Creek area (28273) had less than one month of inventory in May. Both areas saw a significant decrease in new listings. Tight inventory contributed to lower closed sales. Minimal room for buyers to negotiate with 28273 zip code sellers receiving 99.5% of list price and 28278 zip code sellers receiving 98.5% of list price.
May 2019 Charlotte region housing update + video. Charlotte region remained a seller’s market in May 2019 with inventory remaining extremely tight and lower than one year ago, resulting in higher home list and sale prices due to continued high buyer demand. Closed sales were up slightly, but pending sales were up 17.3% year-over-year. The housing affordability index continued to decrease, as well. Months supply of homes remained very low at 2.3 months and even lower for homes priced under $200,000. Year-to-date trends are all also showing increased prices, higher sales, and tight inventory.
How did the Fort Mill and Tega Cay housing markets do in May 2019? Both the Fort Mill and Tega Cay, SC housing markets remained seller markets in May 2019, characterized by decreasing inventory and months supply of housing compared with May 2018. Homes in both Fort Mill and Tega Cay sold more quickly both in May 2019 as compared with May 2018 and compared with the prior month of April. Pending sales were up considerably in both Fort Mill (+25.1%) and Tega Cay (+44.1%) in May. While closed sales were down somewhat in Fort Mill, in Tega Cay they increased 21.9%.