Indian Land, South Carolina housing market unquestionably remained a seller’s market in September 2021. Home prices increased and homes sold quickly with average days on market significantly lower. The months supply of homes was critically low at 0.9 months. Inventory dropped 46.7% year-over-year. All this put downward pressure on closed and pending sales in September 2021.
Indian Land, SC Housing Market Snapshot: September 2021
Latest news on the Indian Land real estate market in September 2021 and what it means for you…
The Indian Land, South Carolina (29707 zip code) housing market remained a seller’s market in September with just 0.9 months supply of inventory overall, down 35.7% from 1.4 months in September 2020 and down from 3.3 months in September 2019.
Housing inventory was down 46.7% in September year-over-year, while new listings decreased 38.5% year-over-year. New construction inventory, long a staple of Indian Land housing, was down 69% year-over-year.
Both average and median sale prices increased in September 2021 to $454,410 and $415,000, respectively. Average home sale prices increased 24.7% year-over-year. Median sale prices increased 16.2% year-over-year. Average home sale prices have increased approximately $130,000 since August 2019. Median home sale prices have increased by approximately $87,000 since August 2019.
Lack of inventory continues to drive home prices up. One indicator of how much demand there is for Indian Land homes versus supply is the number of showings per listed home. In September 2021 listed homes had 12.1 showings on average. This was an increase of 40.7% from 8.6 showings in September 2020, as well as an increase from 5.9 showings per listed home in September 2019.
Closed sales decreased in September by 12.6% year-over-year. Pending sales decreased 37.5% versus September 2020. It was just a matter of time before the extreme lack of inventory impacted closed and pending sales in Indian Land. You can’t sell what you don’t have to sell!
Average days on market were 57.8% lower at 19 days (down 26 days year-over-year). Median days on market were 61.5% lower at 5 days (down 8 days year-over-year and down 19 days versus September 2019).
With home sellers receiving a median 101.5% of asking price in sale price (up 1.8% year-over-year), the negotiating opportunity for home buyers in Indian Land was negligible in September 2021.
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MORE INFORMATION ON THE INDIAN LAND, SC HOUSING MARKET’S PERFORMANCE
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FREE Home Seller Guide: “Things To Consider When Selling Your House”
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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, your Charlotte metro area residential real estate experts and Indian Land specialists. We’ve been opening doors for Indian Land home buyers and sellers for 20+ years.
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