Indian Land, South Carolina housing market remained a seller’s market in April 2022. Indian Land home prices set new records in April 2022 with average home prices up 30.2%. Inventory remained tight at 0.7 months supply. Home sellers received 102.7% of asking price in final sale price.
Indian Land, SC Housing Market Snapshot: April 2022
Latest news on the Indian Land real estate market in April 2022 and what it means for you…
The Indian Land, South Carolina (29707 zip code) housing market remained a seller’s market in April with just 0.7 months supply of inventory overall, down 22.2% from 0.9 months in April 2021 and down from 2.8 months in April 2020.
Housing inventory was down 37.7% in April, year-over-year. New listings slightly increased 6.5% year-over-year thanks to a 23.5% increase in new construction inventory. Resale inventory dropped 56.3% year-over-year. Lack of inventory continued 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 April 2022, listed homes had 17.1 showings on average. It’s very much a case of more buyers “chasing” fewer listings.
Both average and median sale prices increased in April 2022 to $507,053 and $486,000 respectively with both setting new record highs for Indian Land home prices. Average home sale prices increased 30.2% year-over-year. Compared with April 2020, average home prices were about $152,000 higher. Median sale prices increased 27.4% year-over-year. Compared with April 2020, median home prices were about $156,000 higher. Both average and median home sales prices also increased month-over-month.
Closed sales decreased in April by 43.2% year-over-year. Pending sales increased 5.7% versus April 2021.
Price per square foot for Indian Land homes increased 25.8% to $205/square foot from $163/square foot one year ago. Per square foot prices also set new record highs in April 2022.
Average days on market were 24 days (up 12 days year-over-year and down 26 days over April 2020). Median days on market were flat at 3 days (down 11 days versus April 2020).
With home sellers receiving a median 102.7% of asking price in sale price (up 2.6% year-over-year), the negotiating opportunity for home buyers in Indian Land was negligible in April 2022. The list to sale price ratio was up 2.7% month-over-month.
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Indian Land Housing Market Highlights
April 2022 Versus April 2021
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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.
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