Indian Land Real Estate January 2024

NEW LISTINGS IN INDIAN LAND INCREASED AFTER 4 CONSECUTIVE MONTHS OF DECLINES

New listings in January 2024 were 59, increasing 84.38% from 32 in December 2023. Compared with January 2023, new listings were up 13.46% from 52 listings. Compared with January 2022 new listings (97 listings) in January 2024 were considerably lower.

INDIAN LAND INVENTORY DOWN MONTH-OVER-MONTH & YEAR-OVER-YEAR

Despite the increase in new listings in January, Indian Land inventory declined in January 2024 to 159, down 9.66% from 176 homes for sale in the prior month.  Compared with January 2023, the number of properties for sale declined 10.17% from 177. Compared with January 2022, inventory was up from 131 properties for sale.  The January 2024 months supply of inventory of 3.88 months declined significantly from the 5.76 months in Indian Land in December 2023. The 3.88 months of inventory in January pushed Indian Land back into a seller’s market.

INDIAN LAND HOME SALE PRICES DECLINED

Average home sale price in January 2024 was $534,285, down 7.22% from the average sale price of $575,858 in the previous month of December.  January’s average sale price was 12.91% lower than one year ago in January when the average sale price was $613,504. Some of this decline can be attributed to the price mix of homes sold in the most recent month and not because Indian Land home values declined overall.

Median home sale price in January 2024 was $488,800, down 7.77% from December’s $530,000. Median sale price declined 18.32% from $598,400 in January 2023. Some of this decline can be attributed to the price mix of homes sold in the most recent month and not because Indian Land home values declined across the board.

Price per square foot for Indian Land homes in January 2024 declined 5.41% to $210 from $222 in the most recent month of December. Year-over-year, the January 2024 price per square foot was was 5% higher than in January 2023 when it was $200 per square foot.

INDIAN LAND REAL ESTATE MEDIAN HOME PRICE TRENDS

(12 Month Rolling Average)

LIST TO SALE PRICE RATIO IN INDIAN LAND REMAINED FLAT

The list to sale price ratio in January 2024 was 98.34%, equal to the ratio in December and November 2023 and January 2023.

DAYS ON MARKET UP MONTH-OVER-MONTH & YEAR-OVER-YEAR

Days on market for Indian Land properties were 50 days, up from 34 days in the previous month of December. January’s days on market were also higher than in January 2023 which saw 48 days on market and January 2022, which saw 32 days on market. This was the second highest number of days on market in Indian Land in one year. New construction activity has picked up in Indian Land and could well account for the higher days on market.

NUMBER OF PROPERTIES SOLD AT THEIR SECOND LOWEST LEVEL SINCE 2021

The number of properties sold was 31 in January 2024, increasing 17.14% from 35 properties sold in December 2023. Sales were also 8.89% lower than in January 2023. The January 2024 sales were at their lowest compared with January 2023 (45 sales) and January 2022 (61 sales).

Want to know what this would mean for your family if you decide to buy or sell an Indian Land area home?

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

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SEARCH INDIAN LAND, SC HOMES FOR SALE

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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 I can assist you in gaining access to buyers who area ready, willing, and able to buy now.

Contact me 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.

Note: If you don’t see your subdivision or complex, or the data looks incomplete, it’s because there weren’t enough properties sold in a given year.

I’m happy to provide an expert home value analysis with no obligation on your part.

 FREE Home Seller Guide: “Things To Consider When Selling Your House”

This Charlotte, North Carolina monthly real estate update for Indian Land, South Carolina is provided  by Nina Hollander, Greater Charlotte area residential real estate expert and Indian Land specialist. I’ve been opening doors for Indian Land home buyers and sellers since 1999.

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.”