Fort Mill’s housing market (29715 and 29708 zip codes) unquestionably remained a home seller’s market in May 2021, characterized by much lower inventory, razor-thin months supply of housing, fewer days on market, higher sale prices, higher list to sale price ratios. Whatever impact the pandemic made on the Fort Mill housing market one year ago, it’s completely dissipated.
Fort Mill Housing Market Snapshot: May 2021
Latest news on the Fort Mill real estate market in May 2021 and what it means for you…
Fort Mill’s housing market (29715 and 29708 zip codes) remained a seller’s market in May with significantly lower inventory, lower months supply of housing, fewer days on market, and higher average and median home sale prices.
Pending sales increased 2.8% and closed salesincreased 7.2% year-over-year in May. Lack of inventory limited the number of closed and pending sales in May.
New listings increased 7.8% in Fort Mill year-over-year. Housing inventory dropped 69.9% year-over-year. The months supply of homes decreased 75% to just 0.5 months from 2 months in the same month one year ago.
Average days on market decreased 15 days to 16 days versus the same month one year ago. Average days on market decreased month-over-month, as well. Median days on market were 2, decreasing 7 days versus the same month one year ago. Newly listed homes are selling as fast as they come on the market.
Sellers received a median 102.7% of list price, up 2.7% year-over-year. Home buyers clearly had minimal negotiating room for Fort Mill homes.
Average home sale prices increased 20.6% in May 2021 versus May 2020. Median home sale prices increased 29.2%. Average sale price was $455,206. Average sale price was almost $56,000 higher month-over-month. Median sale price was $372,500 (almost $50,000 higher month-over-month). Greater demand for homes than supply of homes continues to drive home prices up. Price per square foot increased to $176, up $30/square foot one, year-over-year.
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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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 how: