Fort Mill’s housing market (29715 and 29708 zip codes) definitely felt the impact of COVID-19 stay-at-home restrictions in April 2020, characterized by much lower inventory, fewer new listings, lower months supply of housing, and fewer closed and pending sales, while home prices increased compared with April 2019. Showings of homes dropped 79% in April year-over-year.
Fort Mill Real Estate Report: April 2020
Latest news on the Fort Mill real estate market and what it means for you…
Fort Mill real estate report and housing market snapshot for April 2020. The Fort Mill housing market (29715 and 29708 zip codes) definitely felt the impact of COVID-19 stay-at-home restrictions in April 2020, characterized by much lower inventory, fewer new listings, lower months supply of housing, and fewer closed and pending sales, while home prices increased compared with April 2019.
Pending sales decreased 33.8% and closed sales decreased 7.7% year-over-year in April. Home showings slowed considerably in the month of April. Fort Mill had 569 home showings in April 2020 compared with 2,687 home showings in April 2019 — a 79% decrease year-over-year. Not surprising that both closed and pending sales were down.
New listings decreased 40.5% in Fort Mill year-over-year. Housing inventory dropped 30.1% year-over-year. The months supply of homes dropped to 2 months from 2.8 months one year ago.
Average days on market decreased 11 days to 43 days versus the same month one year ago and decreased 10 days month-over-month. Median days on market were 11, decreasing 3 days versus the same month one year ago and decreasing 9 days month-over-month.
Sellers received 98.8% of list price. Buyers had minimal negotiating room for Fort Mill homes.
Average home sale prices increased 7.2% in April 2020 versus April 2019, while median home sale prices increased 20.4%. Average sale price was $371,862 and median sale price was $349,000. Average and median sale prices also increased significantly month-over-month.
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This Charlotte, North Carolina real estate monthly update for Fort Mill is provided byNina Hollander and Carolinas Realty Partners with Coldwell Banker Residential Brokerage, your Fort Mill/York County specialists and Charlotte metro area residential real estate experts. We’ve been opening doors for Fort Mill area home buyers and sellers for 20+ years.
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