Fort Mill real estate in December 2022 (29715 and 29708 zip codes) saw higher average home prices compared with December 2021, but slightly lower prices month-over-month. Median home prices up year-over-year and month-over-month. Still a low months supply of inventory at 1.3months, although increasing year-over-year. New listings down for a seventh consecutive month. List to sale ratio of 96.9% at lowest level since December 2020.
Fort Mill Housing Market Snapshot: December 2022
Latest news on the Fort Mill real estate market in December 2022 and what it means for you…
Fort Mill real estate in December 2022 (29715 and 29708 zip codes) saw a definite softening with lower closed and pending sales, lower list to sale price ratio, higher days on market, less foot traffic through through active listings. By the same token, home sale prices were up year-over-year, new listings were down, months supply of inventory was down month-over-month and still low at 1.3 months. Pending sales were down just 3.4% year-over-year, which augurs well for closed sales in the coming month or two.
FORT MILL HOUSING MARKET HIGHLIGHTS:
December 2022 vs December 2021
CLOSED & PENDING SALES BOTH DOWN IN FORT MILL IN DECEMBER 2022
Pending sales in Fort Mill decreased 3.4% year-over-year. Closed sales decreased 30% year-over-year in December. Interest rate increases have prospective home buyers pulling back from purchasing a home and reassessing their options as home affordability continues to diminish for many home buyers.
Buyer foot traffic through listed properties dropped 57.1% to 6 showings per listing, on average, in December 2022 versus 14 showings in the same month one year ago. Showings were down from 7.1 showings in November 2022. Home buyers are seeing less competition in the Fort Mill market.
NEW LISTINGS DOWN FOR A 7TH CONSECUTIVE MONTH IN DECEMBER 2022
New listings decreased 27.6% in Fort Mill year-over-year for a seventh consecutive month in December. Housing inventory increased 12.9% year-over-year.
The months supply of homes increased to 1.3 months from 0.9 months in the same month one year ago. Month-over-month, the months supply of homes decreased by 0.3 months.
AVERAGE DAYS ON MARKET DOUBLED IN DECEMBER 2022
Average days on market essentially doubled to 37 days from 18 days in the same month one year ago. Average days on market also increased month-over-month by nine days. Median days on market were 18, 14 days higher year-over-year and five days higher month-over-month. No doubt that homes are taking longer to sell.
FORT MILL HOMES SOLD BELOW 100% LIST TO PRICE RATIO FOR A THIRD CONSECUTIVE MONTH IN DECEMBER 2022
Sellers received a median 96.9% of list price, down 3.6% year-over-year. Month-over-month. the list to sale price ratio decreased 0.6%. This was the lowest median list to sold price ratio since December 2020.
FORT MILL HOME AVERAGE HOME SALE PRICES INCREASED YEAR-OVER-YEAR IN DECEMBER | DECREASED MONTH-OVER-MONTH
Average home sale prices increased 11.5% in December 2022 versus December 2021. December’s average sale price of $516,197 was approximately $9,000 lower than in November 2022. Compared with December 2020, the average sale price for Fort Mill homes was approximately $125,000 higher in 2022.
Median home sale prices increased 10.3%, year-over-year. December’s median sale price of $449,581 was approximately $4,500 higher than in November 2022. Compared with December 2020, the median sale price for Fort Mill homes was approximately $115,000 higher in December 2022.
Price per square foot increased to $211, up $14/square foot (+7.1%) year-over-year. Month-over-month, average price per square foot dropped by $2/square foot.
MEDIAN HOME PRICE TRENDS IN FORT MILL, SC
MORE DETAILS ON THE FORT MILL HOUSING MARKET’S PERFORMANCE
Want to know what this would mean for your family if you decide to buy or sell a Fort Mill home?
We can help.
Call us today at 704-779-0813 or contact us here.
There’s absolutely NO OBLIGATION. A consultation with Carolinas Realty Partners is FREE.
Did you know…
Fort Mill has been ranked as the #6 best Charlotte suburb to live in and #7 in the North Carolina region/area as a best suburb to live in?
Why not check out…
THE 8 HOTTEST FORT MILL/TEGA CAY, SC NEIGHBORHOODS
WELCOME TO FORT MILL, SC: VIDEO
SEARCH ALL FORT MILL, SC AREA HOMES HERE
FREE Home Buyer Guide “Things To Consider When Buying A Home”
WONDERING WHAT YOUR FORT MILL AREA HOME IS WORTH?
Contact us if you’d like to receive our Neighborhood Analyzer Report on a monthly basis so you can keep track of home sales activity in your neighborhood.
We’re happy to provide an expert home value analysis with no obligation on your part.
FREE Home Seller Guide: “Things To Consider When Selling Your House”
THINKING OF SELLING YOUR HOME? CHECK OUT THE COLDWELL BANKER MARKETING ADVANTAGE
ASK US ABOUT COLDWELL BANKER’S REALVITALIZE PROGRAM
RealVitalizeSM is an exclusive Coldwell Banker program that helps with improvements and repairs to prepare your home for sale. We cover upfront costs and get paid back when your home sells. No hidden fees, interest charges or markups.
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 22+ 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:
“The Right Broker Makes All The Difference.”