Fort Mill Real Estate May 2024

Fort Mill, SC (29715 and 29708 zip codes) housing market update for May 2024

 

Fort Mill Real Estate May 2024 | What To Know Now

Fort Mill real estate May 2024 (29715 and 29708 zip codes) saw both average and median home sale prices increase from one month ago and one year ago. Sales were up a fourth consecutive month in May 2024 — up 42+% from April and up 21+% over May one year ago. May 2024 saw the highest level of sold properties since August 2023. After increasing almost 64% one month ago, new listings declined 13.94% from April, but increased 30.66% compared with May 2023. Days on market remained relatively low at 25 days, but were higher than one month and one year ago.  Inventory was unchanged from one month ago and was 36.47% higher than one year ago. Inventory was at its highest level in three years in May and April 2024.  The months supply of inventory declined to 2.63 months, keeping Fort Mill in home seller territory despite the higher levels of inventory. List to sale price ratio of 99.93% was essentially flat compared with one month and one year ago and provided little room for Fort Mill buyers to negotiate on price.

 

Fort Mill Real Estate: May 2024 Highlights

Fort Mill, SC (29715 and 29708 zip codes) housing market trends in May 2024

 

 

SALES IN FORT MILL IMPROVED A FOURTH CONSECUTIVE MONTH

Fort Mill sales in May 2024 were 138, up 42.27% from 97 in the previous month of April. Year-over-year sales increased 21.05% from 114 in May 2023. May 2024 sales were also higher than in May 2022 when Fort Mill had 135 sales. May 2024 saw the highest level of sold properties since August 2023, when sales stood at 151.

 

 

NEW LISTINGS IN FORT MILL DOWN MONTH-OVER-MONTH | UP YEAR-OVER-YEAR

After increasing almost 64% in the previous month of April, new listings in Fort Mill declined 13.94% to 179 in May 2024. New listings increased 30.66% from 137 in May one year ago. New listings were also higher than in May 2022, which saw 175 new listings come on market. New listings were at their second highest level in three years.

 

 

FORT MILL HOUSING INVENTORY FLAT MONTH-OVER-MONTH | UP YEAR-OVER-YEAR

The number of properties for sale in May 2024 was 363, unchanged from the previous month of April. Inventory was also higher than in May 2023 (266) and May 2022 (263).  Housing inventory was at its highest level in three years in both May and April 2024.

 

Despite, the increase in inventory in April 2024, the months supply of inventory declined to 2.63 months from 3.7 months in the previous month of April. This kept Fort Mill in home seller territory in May 2024.

 

 

AVERAGE DAYS ON MARKET UP MONTH-OVER-MONTH & YEAR-OVER-YEAR

Average days on market in Fort Mill were 25 days, up 3 days from the previous month of April. Days on market were 4 days higher than in May one year ago when they stood at 21. Days on market were 9 days higher than what we saw in May 2022. 

 

 

LIST TO SALE PRICE RATIO JUST UNDER 100%

The May 2024 list to sale price ratio was 99.93%, essentially equal to what we saw in the previous month of April and in May one year ago. The list to sale price ratio was at its highest level since June 2023. Fort Mill home buyers are not seeing any significant opportunity to negotiate on price.

 

 

FORT MILL SALE PRICES INCREASED IN MAY 2024

Average home sale price was $570,411 in May 2024, up 3.24% from $552,495 in the previous month of April. Year-over-year, the average home price improved 12.71% from $506,108 in May 2023. The May2024 average sale price was at its highest level compared May 2023 and 2022.

 

Median home sale price increased 2.6% to $492,500 in May 2024 from $480,000 in the previous month of April. Year-over-year, the median sale price increased 11.06% from $443,450 in May 2023. The May 2024 median sale price was at its highest level compared with May 2023 and 2022.

 

Price per square foot was $245,  up 10.36% from $222 in the previous month of April. Year-over-year, the price per square foot increased 14.49% from $214.

 

MORE DETAILS ON THE FORT MILL HOUSING MARKET’S PERFORMANCE

 

 

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Did you know… 

Fort Mill has been ranked the #4 best Charlotte area suburb by niche.com?

Fort Mill has been ranked the #2 best place to raise a family in South Carolina by niche.com?

Fort Mill has been ranked the #1 suburb with the best public schools in South Carolina by niche.com?

 

 

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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:

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Previous Fort Mill Real Estate Updates

Fort Mill Real Estate Update: April 2024      Fort Mill Real Estate Update: March 2024

Fort Mill Real Estate Update: February 2024     Fort Mill Real Estate Update: January 2024

Fort Mill Real Estate Update: December 2023          Fort Mill Real Estate Update: November 2023

Fort Mill Real Estate Update: October 2023         Fort Mill Real Estate Update: September 2023

Fort Mill Real Estate Update: August 2023         Fort Mill Real Estate Update: July 2023

Fort Mill Real Estate Update: June 2023        Fort Mill Real Estate Update: May 2023

 

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