Indian Land Real Estate March 2023
Indian Land real estate March 2023 saw higher home prices year-over-year and month-over-month, as well as more days on market. Home inventory increased from March 2022, but decreased from February 2023. New listings were up from February, but down compared with March one year ago. More homes sold in March than in February 2023, but fewer were sold compared with March 2022. List to sale price ratio was almost 99% indicating very little opportunity for buyers to negotiate on price.
Indian Land, SC Housing Market Highlights: March 2023
NEW LISTINGS DOWN YEAR-OVER-YEAR & MONTH-OVER-MONTH | TOTAL INVENTORY INCREASED YEAR-OVER-YEAR, DECLINED MONTH-OVER-MONTH
New listings in March 2023 were 66, up 26.92% from 52 in February 2023. Compared with March 2022, new listings were down 31.3% from 66 listings. The March 2023 listings were at their lowest level compared with March 2022 (96 listings) and March 2021 (95 listings).
The number of properties for sale in March 2023 was 189, down 2.58% from 194 properties for sale in February 2023. Compared with March 2022, the number of properties for sale increased 30.34% from 145 properties. The number of properties for sale in March 2023 were at their highest level compared with March 2022 (145 listings) and March 2021 (162 listings). Inventory in March 2023 was the lowest since April 2022, when Indian Land had 165 properties for sale.
AVERAGE & MEDIAN HOME SALE PRICES UP YEAR-OVER-YEAR
Average home sale price in March 2023 was $553,973, 4.4% higher than February’s average sale price of $530,816. March’s average sale price was 15.4% higher than one year ago in March when the average sale price was $480,207. The March 2023 average sale price was at its highest level compared with March 2022 and March 2021.
Median home sale price in March 2023 was $541,500, up 9.53% from $494,375 in February 2023. Compared with March 2022, home prices increased 19.01% from $455,000. The March 2023 median sale price was at its highest level compared with March 2022 and March 2021.
Price per square foot for Indian Land homes in March 2023 decreased 1.88% to $209/square foot from $213/square foot in February 2023. Year-over-year, the March 2023 price per square foot increased 10.0% from $190/square foot.
MEDIAN HOME PRICE TRENDS IN INDIAN LAND, SC
INDIAN LAND SALES INCREASED MONTH-OVER-MONTH
Sales increased in March 2023 by 41.7% from February 2023, with 68 homes sold compared with 48 in the previous month. Year-over-year, sales were down 27.7% from 94 sales in March 2022. The March 2023 sales were at their lowest level compared with March 2022 (94 sales) and March 2022 (98 sales).
INDIAN LAND HOMES SAW HIGHER DAYS ON MARKET
Average days on market were 53 days in March 2023, increasing 10.4% from 48 days in February 2023. Days on market were 253.3% higher in March 2023 year-over-year when days on market were 15. The March 2023 days on market were at their highest level compared with March 2022 (15 days) and March 2021 (18 days).
INDIAN LAND HOME SELLERS RECEIVED 98.98% LIST TO SALE PRICE RATIO
Home sellers received a 98.98% of list to sale price, which was 0.72% higher than in February 2023. Year-over-year, the list to sale price ratio was 2.58% lower in March 2023 compared with March 2022 when it was 101.65%.
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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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