Indian Land real estate January 2023 saw higher home prices year-over-year, as well as higher days on market. Inventory increased, while new listings decreased 45.6% year-over-year. January 2023 saw the lowest number of sales in Indian Land since in three years.
Indian Land, SC Housing Market Highlights: January 2023
NEW LISTINGS DOWN YEAR-OVER-YEAR | TOTAL INVENTORY INCREASED YEAR-OVER-YEAR
New listings in January 2023 were 56, up 12% from 50 in December 2022. Compared with January 2022, new listings were down 45.6% from 103 listings. The January 2023 listings were at their lowest level compared with January 2022 and January 2021.
The number of properties for sale in January 2023 was 206, down 4.6% from 216 properties for sale in December 2022. Compared with January 2022, the number of properties for sale increased 27.2% from 162 properties. The number of properties for sale in January 2023 were at their highest level compared with January 2022 and January 2021. Inventory in January 2023 was the lowest since June 2022.
AVERAGE & MEDIAN HOME SALE PRICES UP YEAR-OVER-YEAR IN JANUARY 2023
Average home sale price in January 2023 was $612,273, which was equal to December 2022, but 24.1% higher than $493,250 in January 2022. The January 2023 average sale prices was at its highest level compared with January 2022 and January 2021.
Median home sale price in January 2023 was $597,500, down 3.6% from $619,992 in December 2022. Compared with January 2022, home prices increased 31.5% from $454,711. The January 2023 median sale price was at its highest level compared with January 2022 and January 2021.
Price per square foot for Indian Land homes in January 2023 decreased 3.3% to $197/square foot from $204/square foot in December 2022. Year-over-year, the January 2023 price per square foot increased 1.03% from $195/square foot.
MEDIAN HOME PRICE TRENDS IN INDIAN LAND, SC
JANUARY 2023 SALES AT THEIR LOWEST LEVEL IN THREE YEARS
Sales decreased in January 2023 by 46.6% from December 2022, with 47 homes sold compared with 88 in the previous month. Year-over-year, sales were down 22.95% from 61 sales in January 2022. The January 2023 sales were at their lowest level compared with January 2022 and January 2022. January 2023 also saw the lowest number of homes sold since February 2020.
INDIAN LAND HOMES SAW HIGHER DAYS ON MARKET IN JANUARY 2023
Average days on market were 47 days in January 2023, down 4.08% from 49 days in December 2022. Days on market were 51.6% higher in January 2023 than the 31 days in the same month one year ago. The January 2023 days on market were at their highest level compared with January 2022 and January 2021.
INDIAN LAND HOME SELLERS RECEIVED 98.17% LIST TO SALE PRICE RATIO
Home sellers received a 98.17% of list to sale price, which was equal to the list to sale price ratio in December 2022. Year-over-year, the list to sale price ratio was 2.94% lower in 2023. compared with January 2022 when it was 101.11%.
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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 22+ years.
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