Fort Mill’s housing market (29715 and 29708 zip codes) continued to be impacted by the pandemic in June 2020, characterized by much lower inventory, fewer new listings, lower months supply of housing, and fewer closed and pending sales. With inventory so low, Fort Mill remained a home seller’s market.
Fort Mill Housing Market Snapshot: June 2020
Latest news on the Fort Mill real estate market in June and what it means for you…
Fort Mill’s housing market (29715 and 29708 zip codes) continued to feel the impact of COVID-19 restrictions in June 2020, characterized by much lower inventory, fewer new listings, lower months supply of housing, and fewer closed and pending sales. Although some of the decreased in closed and pending sales can also be attributed to the lack of inventory and homes that did sell, sold more quickly than one year ago.
Pending sales decreased 7.3% and closed salesdecreased 32.4% year-over-year in June.
New listings decreased 20.8% in Fort Mill year-over-year. Housing inventory dropped 49.3% year-over-year. The months supply of homes decreased 46.4% to 1.5 months from 2.8 months one year ago.
Average days on market decreased 3 days to 35 days versus the same month one year ago. Median days on market were 10, decreasing 5 days versus the same month one year ago.
Sellers received 98.9% of list price, up 0.4% year-over-year. Buyers had minimal negotiating room for Fort Mill homes.
Average home sale prices decreased 3.4% in June 2020 versus June 2019, while median home sale prices increased 3.7%. Average sale price was $353,496 and median sale price was $326,750. Most likely, the drop in average home sale prices in June 2020 was due to the price points of homes sold and not to a decrease in the value of Fort Mill homes, overall.
Want to know what this would mean for your family if you decide to buy or sell a Fort Mill home?
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