Fort Mill’s housing market remained a seller’s market in January 2020 evidenced by decreasing inventory of homes, lower months supply of housing and fewer new listings coming on the market. Closed sales were down in January no doubt due to lack of inventory. Buyer demand for homes in Fort Mill continues to outpace supply causing an increase in both average and median home prices compared with January 2019.
Fort Mill Real Estate Report: January 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 January 2020. The Fort Mill housing market (29715 and 29708 zip codes) remained a seller’s market in January 2020, characterized by decreasing inventory, fewer new listings and lower months supply of housing (1.7 months down from 2.3 months one year ago) compared with January 2019.
Pending sales increased 10.6% in Fort Mill in January 2020 compared with the same month one year ago. Closed sales dropped 36.7% in Fort Mill compared with the same month one year ago. Lack of inventory and fewer new listings were contributors to the weakness in closed sales.
New listings decreased 1.9% in Fort Mill. Housing inventory dropped 20.7% year-over-year.
Average days on market increased 10 days to 55 versus the same month one year ago. Median days on market were 38, also increasing 17 days versus the same month one year ago.
Sellers received 97.7% of list price, showing relatively little negotiating room for Fort Mill homes.
Average home sale prices increased 3.6% in January 2020 versus January 2019, while median home sale prices increased 7.2%. Average sale price was $343,216 and median sale price was $320,000. New construction remains a force in Fort Mill and in January the average cost of a new home at $481,217 was $164,320 higher than the average sale price of a resale home.
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Fort Mill Housing Market Highlights: January 2020 vs January 2019
Median Home Price Trends In Fort Mill
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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: January 2020
- Fort Mill Housing Market Highlights: January 2020 vs January 2019
- Median Home Price Trends In Fort Mill
- Find Your Fort Mill Dream Home
- What's Your Fort Mill Home Worth?
- Previous Fort Mill Housing Market Updates
- Whether You're Buying Or Selling A Fort Mill Home...