Fort Mill Real Estate Report: January 2022
Fort Mill’s housing market (29715 and 29708 zip codes) remained a home seller’s market in January 2022. Lower inventory and months supply of housing, fewer days on market, higher sale prices, higher list to sale price ratios all characterized the Fort Mill seller’s market in January. Inventory remains low and buyer demand for homes in Fort Mill has not abated.
Fort Mill Housing Market Snapshot: January 2022
Latest news on the Fort Mill real estate market in January 2022 and what it means for you…
Fort Mill’s housing market (29715 and 29708 zip codes) remained a seller’s market in January with lower inventory, fewer months supply of housing, fewer days on market, and higher average and median home sale prices compared with the same month one year ago.
Pending sales increased 2.2%. Closed sales dropped 33.9% year-over-year in January. Lack of inventory limited the number of closed sales in January.
New listings decreased 16.8% in Fort Mill year-over-year. Housing inventory dropped 34.7% year-over-year. The months supply of homes decreased 37.5% to 0.5 months from 0.8 months in the same month one year ago and from 1.9 months in the same month two years ago. The months supply of inventory also dropped by 0.2 months from December 2021. Fort Mill has been a home seller’s market for at least three years now.
Average days on market decreased 1 day to 15 days versus the same month one year ago. Median days on market were 4, increasing 1 day versus the same month one year ago and decreasing 39 days versus January 2020. Newly listed homes continue to sell as fast as they come on the market.
Pent-up demand for Fort Mill homes was also evident in the number of average showings per listing in January 2022. On average, listed homes had 20.7 showings, up 27% from 16.3 showings in January 2021. In January 2020 listed homes had an average of 9.4 showings. It’s a matter of more buyers “chasing” after fewer homes.
Sellers received a median 100.8% of list price, up 0.8% year-over-year. Home buyers had minimal negotiating room for Fort Mill homes.
Average home sale prices increased 26% in January 2022 versus January 2021. Median home sale prices increased 38.7%. Average sale price was $456,555. Median sale price was $437,500, hitting a new high for Fort Mill homes. Greater demand for homes than supply of homes continues to drive home prices up. Price per square foot increased to $189, up $30/square foot one, year-over-year.
FORT MILL HOUSING MARKET HIGHLIGHTS:
JANUARY 2022 VS JANUARY 2021
MORE DETAILS ON THE FORT MILL HOUSING MARKET’S PERFORMANCE
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MEDIAN HOME PRICE TRENDS IN FORT MILL, SC
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, your Greater Charlotte area residential real estate experts and Fort Mill specialists. We’ve been opening doors for Fort Mill home buyers and sellers for 20+ years.
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