Fort MIll’s housing market remained a seller’s market in November 2019 evidenced by decreasing inventory of homes, lower months supply of housing, fewer days on market, and 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 outstrip supply and average home prices increased.
Fort Mill Real Estate Report: November 2019
Latest news on the Fort Mill real estate market and what it means for you…
Fort Mill real estate report/housing market snapshot for November 2019. The Fort Mill housing market (29715 and 29708 zip codes) remained a seller’s market in November 2019, characterized by decreasing inventory, fewer new listings and lower months supply of housing (1.9 months down from 2.7 months one year ago) compared with November 2018.
Pending sales dropped in Fort Mill (-6.4%) in November compared with the same month one year ago. Closed sales dropped 12.1% in Fort Mill compared with the same month one year ago. Lack of inventory was a contributor to the weakness in pending and closed sales.
New listings decreased 20.7% in Fort Mill and sold quickly keeping average days on market dropping 16 days to 40 days versus the same month one year ago. Median days on market were 28, also dropping 4 days versus the same month one year ago.
Sellers received 97.6% of list price, showing relatively little negotiating room for Fort Mill homes.
While both average home sale prices increased 2.8% in November 2019 versus November 2018, while median home sale prices dropped 2.3%. The drop in median home sale prices is less a reflection of home values in Fort Mill decreasing than of the mix of homes listed for sale. Average sale price was $363,443 and median sale price was $324,900. Both average and median sale prices increased month-over-month.
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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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