Fort Mill’s housing market (29715 and 29708 zip codes) continued to feel the impact of COVID-19 restrictions in May 2020, characterized by much lower inventory, fewer new listings, lower months supply of housing, lower days on market, and fewer closed and pending sales, while home prices increased compared with May 2019. Showings of homes recovered well month-over-month, but were down 23% year-over-year.
Fort Mill Real Estate Report: May 2020
Latest news on the Fort Mill real estate market and what it means for you…
Fort Mill real estate report and housing market snapshot for May 2020. The Fort Mill housing market (29715 and 29708 zip codes) definitely felt the impact of COVID-19 restrictions in May 2020, characterized by much lower inventory, fewer new listings, lower months supply of housing, and fewer closed and pending sales, while home prices increased compared with May 2019.
Pending sales decreased 5% and closed sales decreased 34.2% year-over-year in May. Home showings increased considerably in the month of May compared with April 2020. Fort Mill had just 569 home showings in April 2020 but saw an increase to 2,748 showings in May 2020 — an 84.1% increase. Year-over-year home showings were still down 23% compared with May 2020. Homes priced under $100,000 saw a 300% increase in showings year-over-year and a 700% increase month over month.
New listings decreased 34% in Fort Mill year-over-year. Housing inventory dropped 43.1% year-over-year. The months supply of homes dropped 40% to 1.8 months from 3 months one year ago.
Average days on market decreased 11 days to 29 days versus the same month one year ago and decreased 14 days month-over-month. Median days on market were 9, decreasing 4 days versus the same month one year ago and decreasing 2 days month-over-month.
Sellers received 100% of list price, up from 98.4% one year ago.
Average home sale prices increased 6.1% in May 2020 versus May 2019, while median home sale prices increased 1.9%. Average sale price was $361,799 and median sale price was $321,000.
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Fort Mill Housing Market Highlights: May 2020 vs May 2019
Median Home Price Trends In Fort Mill
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Previous Fort Mill Housing Market Updates
Fort Mill Housing Market Update: March 2020
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This Charlotte, North Carolina real estate monthly update for Fort Mill is provided by Nina Hollander and Carolinas Realty Partners with Coldwell Banker Residential Brokerage, your Fort Mill/York County specialists and Charlotte metro area residential real estate experts. We’ve been opening doors for Fort Mill area home buyers and sellers for 20+ years.
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- Fort Mill Real Estate Report: May 2020
- Fort Mill Housing Market Highlights: May 2020 vs May 2019
- Median Home Price Trends In Fort Mill
- Find Your Fort Mill Dream Home
- What's Your Fort Mill Home Worth?
- Search For Your Fort Mill Dream Home
- Previous Fort Mill Housing Market Updates
- Whether You're Buying Or Selling A Fort Mill Home...