Fort Mill Real Estate July 2023
Fort Mill real estate in July 2023 (29715 and 29708 zip codes) softened as sales and sale prices declined. Inventory and new listings also declined. Homes still sold quickly with average days on market just 20 days in July 2023. List to sale price ratio was just under 100%, providing home buyers few opportunities to negotiate on sale price. With just 2.75 months of inventory, Fort Mill was a seller’s market in July 2023.
SALES DECLINED YEAR-OVER-YEAR & MONTH-OVER-MONTH
Fort Mill sales in July 2023 were 104, decreasing 36.2% from 163 in June 2023. Year-over-year sales decreased 10.34% from 116 in July 2022. July’s closed sales were at their lowest level since July 2022 (116 sales) and July 2021(169 sales).
NEW LISTINGS DOWN YEAR-OVER-YEAR & MONTH-OVER-MONTH
New listings in Fort Mill were 133, down 3.62% compared with June 2023 when there were 138 new listings. New listings were 5.67% lower than the 141 new listings in July 2022. The June 2023 listings were at their lowest level compared with July 2022 (141 new listings) and July 2021 (189 new listings).
FORT MILL INVENTORY DECLINED YEAR-OVER-YEAR & MONTH-OVER-MONTH
The number of properties for sale in July 2023 was 286, down 1.72% from June 2023. Inventory declined 22.7% compared with July 2022, which had 370 properties for sale. In July, Fort Mill had just 2.75 months of inventory, keeping it in “seller territory.”
AVERAGE DAYS ON MARKET JUST 20 DAYS IN JULY
Average days on market in Fort Mill were 20 days, flat compared with June 2023. Days on market increased 12 days compared with both July 2022 and July 2011. The June and July 2023 days on market were at their lowest level since August 2022 when average DOM were 17 days.
LIST TO SALE PRICE RATIO JUST UNDER 100%
The July 2023 list to sale price ratio was 99.71%, down 0.36% from June 2023. The list to sale price ratio declined 2.17% from 101.88% in July 2022. Fort Mill home buyers are not enjoying big discounts on homes.
FORT MILL HOME AVERAGE & MEDIAN SALE PRICES
Average home sale price decreased 1.81% in July to $519,899 month-over-month from $529,501. Year-over-year, the average home price decreased 11.08% from $584,678 in July 2022.
Median home sale price declined 1.28% to $461,000 in July 2023 from $467,000 in the previous month of June. Year-over-year, the median sale price declined 12.61% from $527,501 in July 2022.
Price per square foot was $216, equal to the previous month of June 2023 and 2.7% lower than $222 per square foot in July 2022.
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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