Indian Land real estate April 2023 saw much lower days on market, down 50+% from March 2023. Sale prices up from one year ago, but down from one month ago. Sales were down compared with March 2023 and April 2022. List to sale price ratio was just under 100%, indicating very little opportunity for buyers to negotiate on price.
Indian Land, SC Housing Market Highlights: April 2023
NEW LISTINGS INCREASED MONTH-OVER-MONTH, BUT DOWN FROM ONE YEAR AGO
New listings in April 2023 were 80, up 21.21% from 66 in March 2023. Compared with April 2022, new listings were down 29.82% from 114 listings. The April 2023 listings were at their lowest level compared with April 2022 (114 listings) and April 2021 (102 listings). This was the highest number of new listings in Indian Land since September 2022 when new listings stood at 80.
TOTAL INVENTORY INCREASED SLIGHTLY FROM MARCH 2023 | UP 16.97% FROM APRIL 2022
The number of properties for sale in April 2023 was 193, up 1.58% from 190 properties for sale in March 2023. Compared with April 2022, the number of properties for sale increased 16.97% from 165 properties. The number of properties for sale in April 2023 were at their highest level compared with April 2022 (165 listings) and April 2021 (175 listings).
AVERAGE & MEDIAN HOME SALE PRICES UP YEAR-OVER-YEAR
Average home sale price in April 2023 was $525,842, 5.09% lower than March’s average sale price of $554,053. April’s average sale price was 6.94% higher than one year ago in April when the average sale price was $490,000. The April 2023 average sale price was at its highest level compared with March 2022 and March 2021.
Median home sale price in April 2023 was $524,000, down 3.23% from $541,500 in March 2023. Compared with April 2022, home prices increased 6.94% from $490,000. The April 2023 median sale price was at its highest level compared with April 2022 and April 2021.
Price per square foot for Indian Land homes in April 2023 decreased 2.4% to $203/square foot from $208/square foot in March 2023. Year-over-year, the April 2023 price per square foot was equal to April 2022.
MEDIAN HOME PRICE TRENDS IN INDIAN LAND, SC
INDIAN LAND SALES DECLINED FROM MARCH 2023 AND APRIL 2022
Sales decreased in April 2023 by 10% from March 2023, with 63 homes sold compared with 70 in the previous month. Year-over-year, sales declined 11.27% from 71 sales in April 2022. The April 2023 sales were at their lowest level compared with April 2022 (71 sales) and April 2022 (126 sales).
INDIAN LAND HOMES SAW MUCH LOWER DAYS ON MARKET
Average days on market were 25 days in April 2023, declining 51.92% from 52 days in March 2023. Days on market were 212.5% higher in April 2023 year-over-year when days on market were 8. The April 2023 days on market were at their highest level compared with March 2022 (8 days) and March 2021 (12 days). April’s days on market were at their lowest level since November 2022, when DOM were 23.
INDIAN LAND HOME SELLERS RECEIVED 99.19% LIST TO SALE PRICE RATIO
Home sellers received a 99.19% of list to sale price, essentially equal to April one year ago. Year-over-year, the list to sale price ratio was 3.77% lower in April 2023 compared with April 2022 when it was 102.96%.
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MORE INFORMATION ON THE INDIAN LAND, SC HOUSING MARKET’S PERFORMANCE
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This Charlotte, North Carolina monthly real estate update for Indian Land, South Carolina is provided by Nina Hollander, Greater Charlotte area residential real estate expert and Indian Land specialist. We’ve been opening doors for Indian Land home buyers and sellers for 24+ years.
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