Fort Mill Real Estate Report: July 2021
Fort Mill’s housing market (29715 and 29708 zip codes) unquestionably remained a home seller’s market in July 2021. 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 July. Whatever impact the pandemic made on the Fort Mill housing market one year ago, it’s completely dissipated.
Fort Mill Housing Market Snapshot: July 2021
Latest news on the Fort Mill real estate market in July 2021 and what it means for you…
Fort Mill’s housing market (29715 and 29708 zip codes) remained a seller’s market in July with significantly lower inventory, lower months supply of housing, fewer days on market, and higher average and median home sale prices.
Pending sales decreased 7.2%. Closed sales dropped 19.5% year-over-year in July. Lack of inventory limited the number of pending and closed sales in July.
New listings increased 7.3% in Fort Mill year-over-year, but homes sold as quickly as they came on market and the new listings had no significant impact on overall inventory. Housing inventory dropped 49.8% year-over-year. The months supply of homes decreased 52.9% to 0.8 months from 1.7 months in the same month one year ago and from 2.4 months in the same month two years ago. Clearly, Fort Mill has been a seller’s market for at least three years now.
Average days on market decreased 26 days to 9 days versus the same month one year ago. Average days on market also dropped 6 days month-over-month. Median days on market were 3, decreasing 6 days versus the same month one year ago. 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 July 2021. On average, listed homes had 16.1 showings, up 38% from 12.1 showings in July 2020. In July 2019 listed homes had an average of 8.2 showings. Clearly, it’s a matter of more buyers “chasing” after fewer homes.
Sellers received a median 102.6% of list price, up 3.8% year-over-year. Home buyers had minimal negotiating room for Fort Mill homes.
Average home sale prices increased 15.5% in July 2021 versus July 2020. Median home sale prices increased 15.0%. Average sale price was $457,504. Median sale price was $425,000, increasing some $26,000 month-over-month. Both average and median home sale prices are $96,000 higher from July 2019. Greater demand for homes than supply of homes continues to drive home prices up. Price per square foot increased to $183, up $32/square foot one, year-over-year.
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MORE DETAILS ON THE FORT MILL HOUSING MARKET’S PERFORMANCE
FORT MILL HOUSING MARKET HIGHLIGHTS:
JULY 2021 VS JULY 2020
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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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