Fort Mill real estate in August 2023 (29715 and 29708 zip codes) rebounded after softening somewhat in July 2023. The number of properties sold increased, as did the average and median sale prices compared with the prior month of July. Homes sold quickly with average days on market just 17 days in August 2023. The average days on market were at their lowest level since August 2022. List to sale price ratio was just under 100%, providing home buyers few opportunities to negotiate on sale price. With just 2.0 months of inventory, Fort Mill was a seller’s market in August 2023.
SALES INCREASED YEAR-OVER-YEAR & MONTH-OVER-MONTH
Fort Mill sales in August 2023 were 149, increasing 36.7% from 109 in July 2023. Year-over-year sales increased 41.9% from 105 in August 2022. Sales were slightly lower than in August 2021 when Fort Mill had 156 sales.
NEW LISTINGS DOWN YEAR-OVER-YEAR & MONTH-OVER-MONTH
New listings in Fort Mill were 125, down 6.02% compared with July 2023 when there were 133 new listings. New listings were 2.34% lower than the 128 new listings in August 2022. The August 2023 listings were at their lowest level compared with August 2022 (128 new listings) and August 2021 (152 new listings). August 2023 also saw the lowest level of new listings since February.
FORT MILL INVENTORY DECLINED YEAR-OVER-YEAR | INCREASED MONTH-OVER-MONTH
The number of properties for sale in August 2023 was 298, up 3.47% from July 2023. Inventory declined 17.91% compared with August 2022, which had 363 properties for sale. In August, Fort Mill had just 2.0 months of inventory, keeping it in “seller territory.”
AVERAGE DAYS ON MARKET JUST 17 DAYS IN AUGUST
Average days on market in Fort Mill were 17 days, down 32% from July’s 25 days. Days on market were flat compared with August 2022, but 10 days higher than in August 2021. August’s days on market were at their lowest level since August 2022.
LIST TO SALE PRICE RATIO JUST UNDER 100%
The August 2023 list to sale price ratio was 99.89%, up 0.18% from July 2023. The list to sale price ratio remained unchanged compared with August 2022. Fort Mill home buyers are not enjoying big discounts on homes.
FORT MILL HOME AVERAGE & MEDIAN SALE PRICES
Average home sale price increased 6.62% in August to $547,988 month-over-month from $513,984. Year-over-year, the average home price decreased 3.69% from $568,991 in August 2022.
Median home sale price increased 1.97% to $460,000 in August 2023 from $451,125 in the previous month of July. Year-over-year, the median sale price declined 9.09% from $506,000 in August 2022.
Price per square foot was $217, equal to the previous month of July 2023 and to that of August 2022.
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This Greater Charlotte, North Carolina real estate monthly update for Fort Mill, SC is provided by Nina Hollander, Coldwell Banker Realty, Greater Charlotte area residential real estate expert and Fort Mill specialist. I’ve been opening doors for Fort Mill home buyers and sellers since 1999.
If you’re considering selling or purchasing a home in the Fort Mill area or anywhere in the Charlotte metro region, I’d love an opportunity to earn your business, to exceed your expectations, and to show you why experience matters and how: