The Indian Land housing market remained a seller’s market with just 2.1 months supply of inventory overall, despite an increase in new listings of 31.3% in February 2020. Resale inventory is razor-thin at just 1.4 months. Average and median home sale prices up year-over-year. Average and median days on market dropped year-over-year. Closed and pending sales increased significantly year-over-year.
Indian Land Real Estate Report: February 2020
Latest news on the Indian Land real estate market and what it means for you…
Indian Land, SC (29707 zip code) real estate report/snapshot for February 2020. The Indian Land housing market remains a seller’s market with just 2.1 months supply of inventory overall, down 30% from 3 months in February 2019. Housing inventory was down 17.1% in February, overall, with resale inventory down 33.3% to only 1.4 months of supply. New construction inventory stood 2.8 months. The drop in housing inventory is despite an increase in new listings of 31.3%.
Both average and median sale prices increased in February to $340,973 and $329,000, respectively. Average sale prices increased 10.3% year-over-year and median sale prices increased 8.6% year-over-year. Resale home prices increased 9.9% year-over-year.
Both closed sales and pending sales increased significantly in February… closed sales by 49.1% and pending sales by 28% versus February 2019. An increase in new listings no doubt contributed to the increased sales.
Average days on market decreased to 55 days (down 15 days year-over-year) and decreased 12 days month-over-month. Median days on market were 42 days (down 8 days year-over-year).
With home sellers receiving 98.1% of asking price in sale price, there was only a small negotiating opportunity for home buyers.
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Indian Land Housing Market Highlights: February 2020 vs February 2019
Median Home Price Trends In Indian Land
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This Charlotte, North Carolina real estate monthly update for Indian Land is provided by Nina Hollander and Carolinas Realty Partners with Coldwell Banker Residential Brokerage, your Indian Land/Lancaster County 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 Real Estate Report: February 2020
- Indian Land Housing Market Highlights: February 2020 vs February 2019
- Median Home Price Trends In Indian Land
- Find Your Indian Land Dream Home
- What's Your Indian Land Home Worth?
- Previous Indian Land Housing Market Updates
- Whether You're Buying Or Selling An Indian Land Home...