Indian Land, SC (29707 zip code) real estate report/snapshot for August 2019. The Indian Land housing market remains a seller’s market with just 3.3 months supply of inventory overall, but with only a 2.4 months supply of resale homes. New listings dropped 19.5% in August 2019. Average sale prices in August 2019 increased 1.3%. Both pending and closed sales were down in August compared with the same month the prior year, no doubt as a result of lower new listings and a 17.2% drop in months supply of resale homes. With home sellers getting 98.7% of selling price, minimal room for buyers to negotiate. Indian Land homes are selling quickly with just 20 median days on market.
How The Indian Lane Housing Market Performed In
August 2019 versus August 2018
Indian Land (29707 Zip Code): A Seller’s Market in August 2019
- Average sale price of Indian Land area homes increased 1.3% in August 2019 to $349,914 compared with the same period one year ago. Average prices also increased $27,586 over the prior month of July.
- Median sale price for Indian Land area homes decreased 1% in August 2019 versus one year ago to $343,986. However, on a month-over-month basis, median sale prices were up over $41,000.
- Average days on market for property listings in Indian Land were 39 days in August 2019 — down 12 days compared with one year ago. Median days on market in August were 20 days. However you look at it, homes are selling quickly in Indian Land.
- Average price per square foot for Indian Land area homes was $135/square foot (up $3/square foot) in August 2019 versus the same period in 2018.
- Pending sales in the Indian Land area were down 6% in August 2019 versus the same month last year.
- Closed sales in the Indian Land area area decreased 3.9% in August 2019 compared with the same month one year ago.
- New listings in the Indian Land area decreased 19.5% versus August 2018 with most of the increase coming in new construction homes, no doubt contributing to the drop in closed and pending sales.
- Months supply of inventory was flat in August 2019 at 3.3 months. However, months supply of resale homes was just 2.4 months (down 17.2%), while new construction inventory stood at 4.4 months supply (up 63% year-over-year). While inventory of homes was up 3.1% overall, resale inventory was down 19.5% year-over-year and new construction inventory increased 72.7%.
- Median percent of original list price that sellers received for their homes in August 2019 was 98.7%, showing minimal negotiating room in the 29707 zip code for Indian Land area homes.
Indian Land’s Hot Neighborhoods
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Previous Housing Market Updates For Indian Land, SC
Buying Or Selling A Home In The Indian Land Area…
… The Right Broker Makes All The Difference!
This Charlotte, North Carolina real estate monthly update for Indian Land is brought to you by Nina Hollander and Carolinas Realty Partners with Coldwell Banker Residential Brokerage, your Indian Land area specialists and Charlotte metro area residential real estate experts. We’ve been opening doors for Indian Land area home buyers and sellers for 20+ years.
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Indian Land, SC Homes For Sale