Indian Land real estate August 2022 saw new median sale price records for homes, increasing 11.1% year-over-year. Months supply of homes remained low at 1.4 months. New listings decreased 14.5%, despite a 70.4% increase in new construction inventory. Closed and pending home sales both decreased in the month of Agust in Indian Land, South Carolina. While average days on market increased, they were still relatively low at 17 days in August 2022.

Indian Land, SC Housing Market Snapshot: August 2022

 

Latest news on the Indian Land real estate market in August 2022 and what it means for you…

 

Indian Land (29707 Zip Code) Real Estate UpateThe Indian Land, South Carolina (29707 zip code) housing market continued to see a low months supply of homes in August 2022 at 1.4 months supply. Both pending and closed sales dropped in August.  Median home sale prices reached record highs. With a median list to sale price ratio of 100%, Indian Land home sellers remained in the “driver’s seat” in August 2022. 

 

Housing inventory increased 17.7% in August, year-over-year. New listings decreased 14.5% year-over-year, despite a 70.4% increase in new construction inventory. Resale inventory increased 24% year-over-year, but still stood at less than one month of supply at 0.9 months.

 

Both average and median sale prices increased year-over-year in August 2022 to $562,611 and $527,500, respectively. Median sale prices saw record highs for Indian Land home prices. Average home sale prices increased 11% year-over-year. Compared with August 2020, average home prices were about $213,000 higher this August.  Median sale prices increased 11.1% year-over-year. Compared with August 2020, median home prices were about $196,000 higher in August 2022. Month-over-month, average home prices were approximately $1,000 lower than in July 2022; median home prices were approximately $18,000 higher than in July 2022.

 

New construction home prices decreased 2.6%, on average, year-over-year. Resale home prices increased 7.1%. In August 2022, prices for new construction homes averaged $581,900 about $57,000 higher than for resale homes.

 

Closed sales decreased in August by 10.9% year-over-year. Pending sales decreased 19.8% versus August 2021. Foot traffic also decreased, with listed homes seeing 7.6 showings, on average, compared with 10 showings in August one year ago. Clearly, some of the frenzy we saw in the Indian Land market last summer has abated.

 

Price per square foot for Indian Land homes increased 15.9% to $204/square foot from $176/per square foot in the same month one year ago.

 

Average days on market were 17 days, up 4 days year-over-year, and up 6 days month-over-month.  Median days on market were 3 days, flat year-over-year and month-over-month. However you look at it, Indian Land homes sold quickly in August 2022. Compared with August 2020, average days on market were 23 less in August 2022 and median days on market were 9 days lower.

 

With home sellers receiving a median 100% of asking price in sale price (down 2.9% year-over-year and down 0.4% month-over-month), the negotiating opportunity for home buyers in Indian Land remained minimal in August 2022. 

 

Want to know what this would mean for your family if you decide to buy or sell an Indian Land area home?

Contact Nina Hollander if you're curious about the Charlotte real estate market

 

We can help.

Call us today at 704-779-0813 or contact us here.

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 MORE INFORMATION ON THE INDIAN LAND, SC HOUSING MARKET’S PERFORMANCE 

 Indian Land Housing Market Highlights

August 2022 Versus August 2021

Indian Land SC Real Estate Sales Update August 2022

 

 

10 HOT INDIAN LAND NEIGHBORHOODS 

Hottest Selling Indian Land SC Neighborhoods

 

SEARCH ALL INDIAN LAND, SC HOMES FOR SALE

 

FREE Home Buyer Guide “Things To Consider When Buying A Home” 

 

WONDERING WHAT YOUR INDIAN LAND, SC AREA HOME IS WORTH?

If you’re thinking about selling your Indian Land area home, let’s get together and discuss the supply conditions in Indian Land neighborhoods and how we can assist you in gaining access to buyers who area ready, willing, and able to buy now.

 

Contact us if you’d like to receive our Neighborhood Analyzer Report on a monthly basis so you can keep track of home sales activity in your neighborhood.

 

We’re happy to provide an expert home value analysis with no obligation on your part.

What's My Home Worth?

 

 FREE Home Seller Guide: “Things To Consider When Selling Your House”

 

THINKING OF SELLING YOUR HOME? CHECK OUT THE COLDWELL BANKER MARKETING ADVANTAGE 

 

MEDIAN HOME PRICE TRENDS IN INDIAN LAND, SC

 

 

This Charlotte, North Carolina monthly real estate update for Indian Land, South Carolina is provided  by Nina Hollander and Carolinas Realty Partners, Coldwell Banker Realty, Greater Charlotte area residential real estate experts and Indian Land specialists. We’ve been opening doors for Indian Land home buyers and sellers for 20+ years.

 

If you’re considering selling or purchasing a home in Indian Land or anywhere in the Charlotte metro area, I’d love an opportunity to earn your business, to exceed your expectations, and to show you why experience matters and how:

 “The Right Broker Makes All The Difference.”

Find Your Indian Land Dream Home


Summary
Indian Land Real Estate Report: August 2022
Article Name
Indian Land Real Estate Report: August 2022
Description
Indian Land, South Carolina housing market remained a seller's market in July 2022. Home prices set new record highs. Inventory remained low with fewer new listings. Homes sold in 11 days, on average. Indian Land real estate in June 2022 kept home sellers in the driver's seat with record setting home sale prices. Inventory and days on market still low.
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