Fort Mill real estate in October 2022 (29715 and 29708 zip codes) saw higher home sale prices, on average, year-over-year and month-over-month. Still a low months supply of inventory at 1.6 months, although increasing year-overr-year . New listings down for a fifth consecutive month. List to sale ratio below 100% for the first time since December 2020.

Fort Mill Housing Market Snapshot: October 2022

Latest news on the Fort Mill real estate market in October 2022 and what it means for you…

 

Fort Mill Real Estate Update

Fort Mill real estate in October 2022 (29715 and 29708 zip codes) kept home sellers in the driver’s seat with the months supply of homes at 1.6 months, higher home sale prices, fewer new listings. By the same token, it’s clear the Fort Mill market is softening with days on market increasing, closed and pending sales down year-over-year, less foot traffic through listed homes, and home prices down from the previous month.

 

FORT MILL HOUSING MARKET HIGHLIGHTS:

October 2022 vs October 2021

Fort Mill, SC Home Sales Update October 2022

 

 

CLOSED & PENDING SALES BOTH DOWN IN FORT MILL IN OCTOBER

Pending sales in Fort Mill decreased 27.9% year-over-year. Closed sales decreased 18.2% year-over-year in October.  The recent increases in interest rates have prospective home buyers pulling back from purchasing a home while reassessing their options as home affordability continues to diminish for many home buyers.

 

Buyer foot traffic through listed properties dropped to 7.1 showings per listing, on average, in October 2022 versus 15.4 showings in the same month one year ago. Showings dropped slightly from 7.7 showings in September 2022.

 

NEW LISTINGS DOWN FOR A 5TH CONSECUTIVE MONTH IN OCTOBER

New listings decreased 20.9% in Fort Mill year-over-year for a fifth consecutive month in October. Housing inventory increased 16.6% year-over-year.

 

The months supply of homes increased to 1.6 months from 1.1 months in the same month one year ago. Month-over-month, the months supply of homes increased 0.1 months.

 

AVERAGE DAYS ON MARKET DECREASED IN OCTOBER, YEAR-OVER-YEAR & MONTH-OVER-MONTH

Average days on market increased to 23 days from 17 days in the same month one year ago. Average days on market also increased month-over-month by five days. 

 

Median days on market were 17, 13 days higher year-over-year and six days higher month-over-month. This was the highest median days on market in Fort Mill in 2022 since March 2020.

 

FORT MILL HOMES SOLD BELOW 100% LIST TO PRICE RATIO FOR THE FIRST TIME IN ALMOST TWO YEARS IN OCTOBER

Sellers received a median 98.2% of list price, down 3% year-over-year. Month-over-month. the list to sale price ratio decreased 1.8%. This was the first month that the median list to sold price ratio was less than 100% since December 2020.

 

FORT MILL HOME AVERAGE HOME SALE PRICES INCREASED YEAR-OVER-YEAR IN OCTOBER

Average home sale prices increased 35.4% in October 2022 versus October 2021. October’s average sale price of $564,003 was approximately $41,000 lower than in September 2022. Compared with October 2020, the average sale price for Fort Mill homes was approximately $180,000 higher in 2022.

 

Median home sale prices increased 16.9%, year-over-year, but decreased month-over-month. October’s median sale price of $450,000 was approximately $9,000 lower than in September 2022. Compared with October 2020, the median sale price for Fort Mill homes was approximately $102,000 higher in 2022.

 

Price per square foot increased to $220, up $36/square foot (+19.6%) year-over-year.

 

MEDIAN HOME PRICE TRENDS IN FORT MILL, SC

 

MORE DETAILS ON THE FORT MILL HOUSING MARKET’S PERFORMANCE

 

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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 6 HOTTEST FORT MILL/TEGA CAY, SC NEIGHBORHOODS 

Hottest Selling Fort Mill, 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?

 

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 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

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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.

 

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:

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Summary
Fort Mill, SC Real Estate Report: October 2022
Article Name
Fort Mill, SC Real Estate Report: October 2022
Description
Fort Mill's housing market (29715 and 29708 zip codes) saw home prices increase year-over-year in October 2022. New listings down for a fifth consecutive month, but sales also down.
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