Fort Mill’s housing market (29715 and 29708 zip codes) unquestionably remained a home seller’s market in March 2021, characterized by much lower inventory, razor-thin months supply of housing, fewer days on market, higher sale prices, and pending home sales suffering from the lack of inventory.
Fort Mill Housing Market Snapshot: March 2021
Latest news on the Fort Mill real estate market in March and what it means for you…
Fort Mill’s housing market (29715 and 29708 zip codes) remained a seller’s market in March with significantly lower inventory, lower months supply of housing, a decrease in new listings, higher average and median home sale prices.
Pending sales increased 20.9% and closed sales increased 3.4% year-over-year in March. Lack of inventory limited the number of closed sales in March.
New listings decreased 19.2% in Fort Mill year-over-year. Housing inventory dropped 74.5% year-over-year. The months supply of homes decreased 76.2% to just 0.5 months from 2.1 months in the same month one year ago.
Average days on market decreased 31 days to 21 days versus the same month one year ago. Median days on market were 3, decreasing 16 days versus the same month one year ago.
Sellers received a median 100.4% of list price, up 1.2% year-over-year. Home buyers clearly had minimal negotiating room for Fort Mill homes.
Average home sale prices increased 14.6% in March 2021 versus March 2020. Median home sale prices increased 13.4%. Average sale price was $406,552; median sale price was $355,000. Sale prices also increased month-over-month. The average sale price increased in March by just under $50,000 over February. The median sale price in March increased $30,000 over February. Greater demand for homes than supply of homes is driving prices up.
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MORE DETAILS ON THE FORT MILL HOUSING MARKET’S PERFORMANCE
FORT MILL HOUSING MARKET HIGHLIGHTS:
MARCH 2021 VS MARCH 2020
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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 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.
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