Fort MIll’s housing market remained a seller’s market in December 2019 evidenced by decreasing inventory of homes, lower months supply of housing and significantly fewer new listings coming on the market. Closed and pending sales both were down due to lack of inventory. Buyer demand for homes in Fort Mill continues to outpace supply causing an increase in both average and median home prices compared with December 2018.
Fort Mill Real Estate Report: December 2019
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 December 2019. The Fort Mill housing market (29715 and 29708 zip codes) remained a seller’s market in December 2019, characterized by decreasing inventory, fewer new listings and lower months supply of housing (1.9 months down from 2.5 months one year ago) compared with December 2018.
Pending sales dropped 21.7%in Fort Mill in December compared with the same month one year ago. Closed sales dropped 1.4% in Fort Mill compared with the same month one year ago. Lack of inventory and new listings were contributors to the weakness in pending and closed sales.
New listings decreased 41.2% in Fort Mill. Housing inventory dropped 7.9% year-over-year.
Average days on market increased 12 days to 63 versus the same month one year ago. Median days on market were 33, also increasing 8 days versus the same month one year ago.
Sellers received 97.9% of list price, showing relatively little negotiating room for Fort Mill homes.
While both average home sale prices increased 10.4% in December 2019 versus December 2018, while median home sale prices increased 5.2%. Average sale price was $350,453 and median sale price was $305,000.
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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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