Fort Mill Real Estate November 2023
Fort Mill Real Estate Snapshot: November 2023
Fort Mill real estate in November 2023 (29715 and 29708 zip codes) saw average home prices decline slightly month-over-month and year-over-year. Closed sales declined from one year ago. New listings were at their lowest level since February 2023, declining a ninth consecutive month. Days on market increased in November, but homes still sold relatively quickly at 31 days. Inventory declined in November and the months supply of inventory declined to 3.54 months. List to sale price ratio was just under 100%, providing home buyers few opportunities to negotiate on sale price.
SALES IN FORT MILL STEADY MONTH-OVER-MONTH | DOWN YEAR-OVER-YEAR
Fort Mill sales in November 2023 were 91, equal to the sale in the previous month. Year-over-year sales declined 10.78% from 102 in November 2022. Sales were also lower than in November 2021 when Fort Mill had 138 sales. November 2023 closed sales were at their lowest level compared with November 2022 and 2021.
NEW LISTINGS IN FORT MILL DECLINED FOR A 9TH CONSECUTIVE MONTH
New listings in Fort Mill were 73, down 26.26% compared with October 2023 when there were 99 new listings. New listings declined 17.98% from November 2022. November 2023 saw the lowest number of new listings compared with November 2022 (89 new listings) and November 2021 (103 new listings). November 2023 also saw the lowest level of new listings since February 2023.
FORT MILL INVENTORY DECLINED YEAR-OVER-YEAR & MONTH-OVER-MONTH
The number of properties for sale in November 2023 was 322, down from 337 in the previous month. Inventory declined 14.36% compared with November 2022, which had 376 properties for sale, but increased compared with November 2021 which had 282 new listings. In November, Fort Mill had 3.54 months of inventory (slightly lower compared with the previous month). At under four months of inventory Fort Mill was still in “seller territory.”
AVERAGE DAYS ON MARKET UP FROM OCTOBER | FLAT VERSUS NOVEMBER 2022
Average days on market in Fort Mill were 31 days, increasing 12 days from October. Days on market were relatively flat compared with November one year ago when the days on market stood at 30. Days on market were higher compared with November 2021, which saw 12 days on market.
LIST TO SALE PRICE RATIO JUST UNDER 100%
The November 2023 list to sale price ratio was 99.2%, essentially equal to that of October and September 2023. The list to sale price ratio increased from 98.17% in November one year ago. Fort Mill home buyers are not enjoying big discounts on home prices.
FORT MILL AVERAGE & MEDIAN SALE PRICES DOWN SLIGHTLY
Average home sale price decreased 5.73% in November to $519,526 month-over-month from $551,118. Year-over-year, the average home price declined 1.12% from $525,414 in November 2022.
Median home sale price decreased 4.48% to $448,000 in November 2023 from $469,000 in the previous month of October. Year-over-year, the median sale price declined 1.32% from $454,000 in November 2022.
Price per square foot was $237, equal to that in the previous month of October. Year-over-year, the price per square foot increased 11.79% from $212.
MEDIAN HOME PRICE TRENDS IN FORT MILL, SC
MORE DETAILS ON THE FORT MILL HOUSING MARKET’S PERFORMANCE
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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 since 1999.
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