Fort Mill’s housing market (29715 and 29708 zip codes) remained a home seller’s market in December 2021. Lower inventory and months supply of housing, fewer days on market, higher sale prices, higher list to sale price ratios all characterized the Fort Mill seller’s market in December. Inventory remains low and buyer demand for homes in Fort Mill has not abated.
Fort Mill Housing Market Snapshot: December 2021
Latest news on the Fort Mill real estate market in December 2021 and what it means for you…
Fort Mill’s housing market (29715 and 29708 zip codes) remained a seller’s market in December with lower inventory, fewer months supply of housing, fewer days on market, and higher average and median home sale prices compared with the same month one year ago.
Pending sales decreased 19.8%. Closed salesdropped 11.1% year-over-year in December. Lack of inventory limited the number of pending and closed sales in December.
New listings decreased 4% in Fort Mill year-over-year. Housing inventory dropped 28.4% year-over-year. The months supply of homes decreased 22.2% to 0.7 months from 0.9 months in the same month one year ago and from 1.9 months in the same month two years ago. Fort Mill has been a home seller’s market for at least three years now.
Average days on market decreased 7 days to 16 days versus the same month one year ago. Median days on market were 4, decreasing 1 day versus the same month one year ago and decreasing 27 days versus December 2019. Newly listed homes continue to sell as fast as they come on the market.
Pent-up demand for Fort Mill homes was also evident in the number of average showings per listing in December 2021. On average, listed homes had 14.8 showings, up 41% from 10.5 showings in December 2020. In December 2019 listed homes had an average of 5.7 showings. It’s a matter of more buyers “chasing” after fewer homes.
Sellers received a median 100.7% of list price, up 0.7% year-over-year. Home buyers had minimal negotiating room for Fort Mill homes.
Average home sale prices increased 19.3% in December 2021 versus December 2020. Median home sale prices increased 21.6%. Average sale price was $466,519, increasing month-over-month, as well. Median sale price was $407,500. Greater demand for homes than supply of homes continues to drive home prices up. Price per square foot increased to $197, up $44/square foot one, year-over-year. This is a new price per square foot high for Fort Mill homes.
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