Fort Mill real estate in October 2023 (29715 and 29708 zip codes) saw average home prices decline slightly month-over-month and year-over-year. The median sale price declined from September but was at its highest level compared with October 2022 and 2021. The number of properties sold declined to their lowest level since April 2023. New listings were at their lowest level since February 2023, declining an eighth consecutive month. Homes sold quickly with average days on market just 19 days in October 2023. Inventory declined in October and the months supply of inventory increased to 3.69 months. This is close to becoming a balanced market between home buyers and sellers. List to sale price ratio was just under 100%, providing home buyers few opportunities to negotiate on sale price.
SALES IN FORT MILL DECLINED YEAR-OVER-YEAR & MONTH-OVER-MONTH
Fort Mill sales in October 2023 were 90, declining 2.17% from 92 in September 2023. Year-over-year sales declined 9.09% from 99 in October 2022. Sales were also lower than in October 2021 when Fort Mill had 1119 sales. October 2023 closed sales were at their lowest level compared with October 2022 and 2021. This was the lowest number of sales in Fort Mill since April 2023.
NEW LISTINGS IN FORT MILL DECLINED FOR AN 8TH CONSECUTIVE MONTH
New listings in Fort Mill were 99, down 13.91% compared with September 2023 when there were 115 new listings. New listings declined 20.16% from October 2022. October 2023 saw the lowest number of new listings compared with October 2022 (124 new listings) and October 2021 (151 new listings). October 2023 also saw the lowest level of new listings since February 2023.
FORT MILL INVENTORY DECLINED YEAR-OVER-YEAR & MONTH-OVER-MONTH
The number of properties for sale in October 2023 was 332, down from 335 in the previous month. Inventory declined 9.54% compared with October 2022, which had 367 properties for sale, but increased compared with October 2021 which had 297 new listings. In October, Fort Mill had 3.69 months of inventory (flat compared with the previous month).
AVERAGE DAYS ON MARKET JUST 19 DAYS IN OCTOBER
Average days on market in Fort Mill were 19 days, equal to the 19 days in September. Days on market were down 24% from 25 days in October 2022. Days on market were higher compared with October 2021, which saw 14 days on market. September’s days on market were at their second lowest level in 2023 and at their second lowest level in 12 months. October days on market were also 11 days lower than the year-to-date DOM in Fort Mill.
LIST TO SALE PRICE RATIO JUST UNDER 100%
The October 2023 list to sale price ratio was 99.32%, essentially equal to September’s 99.66%. The list to sale price ratio remained unchanged compared with October 2022. Fort Mill home buyers are not enjoying big discounts on home prices.
FORT MILL AVERAGE & MEDIAN SALE PRICES
Average home sale price decreased 3.37% in October to $553,880 month-over-month from $573,181. Year-over-year, the average home price declined 2.68% from $569,154 in October 2022.
Median home sale price decreased 11.42% to $469,500 in October 2023 from $530,000 in the previous month of September. Year-over-year, the median sale price increased 3.19% from $455,000 in October 2022. The October 2023 median sale price was at its highest level compared with October 2022 and 2021.
Price per square foot was $239, up 7.66% from $222 in the previous month of September 2023 and up 9.13% from $219 in October 2022. The price per square foot was at its highest level since November 2020.
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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: