Indian Land Real Estate June 2023
Indian Land real estate June 2023 saw closed sales at their highest level since December 2022. Housing inventory was at its lowest level since April 2022. Home prices softened in June compared with the same month one year ago and May 2023. Days on market were just 28, 11 days lower than the 2023 year-to-date average. List to sale price ratio was just under 100%, indicating very little opportunity for buyers to negotiate on price.
Indian Land, SC Housing Market Highlights: June 2023
NEW LISTINGS INCREASED MONTH-OVER-MONTH & DECLINED YEAR-OVER-YEAR
New listings in June 2023 were 81, increasing 19.12% from 68 in May 2023. Compared with June 2022, new listings were down 41.3% from 138 listings. The June 2023 listings were at their lowest level compared with June 2022 (138 listings) and June 2021 (98 listings).
INVENTORY AT ITS LOWEST LEVEL IN SINCE APRIL 2022
The number of properties for sale in June 2023 was 177, declining 3.28% from 183 properties for sale in May 2023. Compared with June 2022, the number of properties for sale declined 22.03% from 227 properties. The number of properties for sale in June 2023 were also lower than in June 2021, which had 181 properties for sale. June’s inventory was at its lowest level since April 2022 when inventory stood at 165 properties
AVERAGE & MEDIAN HOME SALE PRICES DECLINED
Average home sale price in June 2023 was $503,073, 4.02% lower than the average sale price of $524,122 in the previous month of May 2023. June’s average sale price was 6.5% lower than one year ago in June when the average sale price was $538,054.
Median home sale price in June 2023 was $467,500, declining 10.2% from May’s $520,580. Median sale price declined 9.28% from $515,328 in June 2022.
Price per square foot for Indian Land homes in June 2023 increased 2.84% to $217 per square foot from $211 per square foot in May 2023. Year-over-year, the June 2023 price per square foot was was 3.83% higher than in June 2022 when it was $209 per square foot.
MEDIAN HOME PRICE TRENDS IN INDIAN LAND, SC
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MORE INFORMATION ON THE INDIAN LAND, SC HOUSING MARKET’S PERFORMANCE
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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. We’ve been opening doors for Indian Land home buyers and sellers for 24+ years.
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