February 2017 home sales in the Fort Mill and Tega Cay, South Carolina areas of the Charlotte, NC metro region had a solid performance in the second month of the new year, continuing the trends we saw all year in 2016 and at the start of the new year with sales prices increasing, closed and pending sales up.

 

The average sale price of Fort Mill area homes increased by 6.4% to just over $311,000 compared with February 2016, while average days on market for property listings dropped by 5 days to 50 days, a 9.1% improvement over the same period last year. Price per square foot also increased by 7.0% to $122/square foot during February 2017 versus the same period in 2016.

In Tega Cay, average home sale prices were up 7.3% to just under $342,000 versus February 2016, while days on market increased by 4 days to 73 days. Because many parts of Tega Cay are on Lake Wylie, this may well be seasonal as boating season is over. Price per square foot in Tega Cay increased by 5.9% to $125/square foot in February 2017.

 

Closed sales of homes in Fort Mill during January 2017 improved by double digits at 20.2% compared with the same period last year. In Tega Cay, closed sales also increased by double digits at 16.6% versus February 2016. Pending sales in February 2017 were up double digits, as well -- by 23.7% in Fort Mill and up by 22.8% in Tega Cay versus February 2016.

 

The average percent of original list price that sellers received for their homes was 97.2% in Fort Mill and 96.4% in Tega Cay, showing relatively little negotiating room on both Fort Mill and Tega Cay homes.

 

The Fort Mill/Tega Cay area's months supply of homes as compared with one year ago is 2.8 months (down 12.5%) and 4.4 months (down 17.0%), respectively--indicating a seller's market in the Fort Mill/Tega Cay areas of South Carolina.  New listings increased 15.5% in Fort Mill and 8.2% in Tega Cay in February 2017.

 

As we head into the third month of 2017, it seems safe to assume that housing inventory in Fort Mill/Tega Cay will remain relatively tight as we enter the spring selling season and that homes will continue to sell quickly and close to asking price for the forseeable future.

 

Fort Mill/Tega Cay, SC Areas Local Market Update - February 2017

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

SEARCH ALL FORT MILL, SC AREA HOMES HERE
 

SEARCH ALL TEGA CAY, SC AREA HOMES HERE

 

WONDERING WHAT YOUR FORT MILL AREA HOME IS WORTH?
 

WONDERING WHAT YOUR TEGA CAY AREA HOME IS WORTH?

 

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Previous Fort Mill/Tega Cay, SC Housing Market Updates:

Fort Mill/Tega Cay, SC Housing Market Update: January 2017 

Fort Mill/Tega Cay, SC Housing Market Update: December 2016

Fort Mill/Tega Cay, SC Housing Market Update: November 2016

Fort Mill/Tega Cay, SC Housing Market Update: October 2016

Fort Mill/Tega Cay, SC Housing Market Update: September 2016 

 Fort Mill/Tega Cay, SC Housing Market Update: August 2016

Fort Mill/Tega Cay, SC Housing Market Update: July 2016

Fort Mill/Tega Cay, SC Housing Market Update: June 2016

Fort Mill/Tega Cay, SC Housing Market Update: May 2016

Fort Mill/Tega Cay, SC Housing Market Update: April 2016

Fort Mill/Tega Cay, SC Housing Market Update: March 2016 

Fort Mill/Tega Cay, SC Housing Market Update: February 2016

 

This Charlotte, North Carolina real estate monthly update for Fort Mill and Tega Cay is brought to you courtesy of Nina Hollander and Carolinas Realty Partners, RE/MAX Executive Realty, your Charlotte metro area real estate consultants. 

 

If you are considering selling or purchasing a home in the Charlotte metro area, I would love an opportunity to earn your business, exceed your expectations, and to prove to you that:

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