Fort Mill’s housing market (29715 and 29708 zip codes) was unquestionably a home seller’s market in December 2020, characterized by much lower inventory, razor-thin months supply of housing, fewer days on market, higher sale prices, and higher pending and closed sales.
Fort Mill Housing Market Snapshot: December 2020
Latest news on the Fort Mill real estate market in December and what it means for you…
Fort Mill’s housing market (29715 and 29708 zip codes) remained a seller’s market in December 2020 with much lower inventory, lower months supply of housing despite an increase in new listings, higher average home sale prices, and higher pending and closed sales.
Pending sales increased 58.9% and closed sales increased 26.7% year-over-year in December.
New listings increased 18.5% in Fort Mill year-over-year, but did little to alleviate inventory shortages. Despite the increase in new listings, housing inventory dropped 59.6% year-over-year. The months supply of homes decreased 63.2% to just 0.7 months from 1.9 months in the same month one year ago.
Average days on market decreased 39 days to 20 days versus the same month one year ago. Median days on market were 5, decreasing 26 days versus the same month one year ago.
Sellers received a median 100% of list price, up 2% year-over-year. Buyers clearly had minimal negotiating room for Fort Mill homes.
Average home sale prices increased 3.2% in December 2020 versus December 2019, while median home sale prices decreased 0.9%. Average sale price was $387,248 and median sale price was $329,000. The small decrease in median home sale prices is most likely due to the price mix of homes sold in Fort Mill and not a result of dropping home values.
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FORT MILL HOUSING MARKET HIGHLIGHTS:
DECEMBER 2020 VS DECEMBER 2019
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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?
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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 Charlotte metro 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 how: