Indian Land real estate October 2022 saw new average sale price records for homes. Months supply of homes remained low at 1.5 months, while overall inventory increased, as did days on market. New listings decreased 18.1%, despite a 104.8% increase in new construction inventory. Closed and pending home sales decreased in the month of October in Indian Land, South Carolina.

Indian Land, SC Housing Market Snapshot: October 2022

 

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

 

Indian Land (29707 Zip Code) Real Estate Upate

The Indian Land, South Carolina (29707 zip code) housing market continued to see a low months supply of homes in October 2022 at 1.5 months and significant increases in both average and median home sale prices year-over-year.

 

Year-over-year, both pending and closed sales dropped in October, while days on market increased compared to one year ago and one month ago. 

 

With a median list to sale price ratio of 100%, Indian Land home sellers remained in the “driver’s seat” in October 2022. 

 

 Indian Land Housing Market Highlights

October 2022 vs October 2021

Indian Land, SC/29707 Zip Code Home Sales Update Octtober 2022

 

 

NEW LISTINGS DECREASED IN OCTOBER 2022, WHILE TOTAL INVENTORY INCREASED 

Housing inventory increased 35.7% in October, year-over-year. 

The months supply of inventory remained low in September at 1.5 months, despite a year-over-year increase of 0.5 months. Month-over-month, the increase was flat.

New listings decreased 18.1% year-over-year, despite a 104.8% increase in new construction inventory over the same month in 2021. 

 

AVERAGE & MEDIAN HOME SALE PRICES AT RECORD HIGHS IN OCTOBER 2022

Average home sale prices increased year-over-year by 26.6% to $578,558, setting a new record. Month-over-month, the average sale price increased by just over $2,000. Compared with October 2020, average home sale prices were about $205,000 higher in October 2022. Average home prices were impacted by an almost 50% increase in new construction sale prices.

Median sale prices increased 30.6% year-over-year. Month-over-month, median home prices were approximately $14,000 lower than in September 2022. Compared with October 2020, median home prices were about $215,000 higher in October 2022.

New construction home prices increased 49.4%, on average, year-over-year. Resale home prices increased 7.5%. In October 2022, prices for new construction homes averaged $670,692 about $167,000 higher than for resale homes, which averaged $502,154. Month-over-month, resale home prices did increase, however.

Price per square foot for Indian Land homes increased 16.3% to $207/square foot from $178/per square foot in the same month one year ago. Price per square foot also increased month-over-month from $206/square foot.

Clearly, Indian Land homeowners who purchased a home in the past several years are sitting on a lot of equity.

 

MEDIAN HOME PRICE TRENDS IN INDIAN LAND, SC

 

CLOSED & PENDING HOME SALES DOWN IN OCTOBER 2022

Closed sales decreased in October by 21.9% year-over-year. Pending sales decreased 38.2% versus October 2021.

Foot traffic also decreased, with listed homes seeing half the number of showings at 6.5 showings, on average, compared with 13 showings in October one year ago. Month-over-month, the number of showings per active listing decreased in October from 8.1 months in September. The buying frenzy we saw in the Indian Land market last year and earlier in 2022 has clearly abated.

 

INDIAN LAND HOMES SAW HIGHER DAYS ON MARKET

Average days on market were 38 days, increasing 19 days year-over-year, and increasing 23 days month-over-month. Median days on market were five days, up one day year-over-year and up one day month-over-month. 

 

INDIAN LAND HOME SELLERS SAW  100% OF LIST TO SALE PRICE IN OCTOBER 2022

With home sellers receiving a median 100% of asking price in sale price, flat year-over-year and month-over-month, the negotiating opportunity for home buyers in Indian Land remained minimal in October 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.

There’s absolutely NO OBLIGATION. A consultation with Carolinas Realty Partners is FREE

 

 

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

 

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 

 

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: October 2022
Article Name
Indian Land Real Estate Report: October 2022
Description
Indian Land, South Carolina housing market remained a seller's market in October 2022. Home prices set new record highs despite lower closed and pending sales. New listings decreased, list to sale price ratio was 100%. 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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