Fort Mill’s housing market (29715 and 29708 zip codes) was unquestionably a home seller’s market in November 2020, characterized by much lower inventory, lower months supply of housing, lower days on market, higher sale prices, and higher pending and closed sales.
Fort Mill Housing Market Snapshot: November 2020
Latest news on the Fort Mill real estate market in November and what it means for you…
Fort Mill’s housing market (29715 and 29708 zip codes) remained a seller’s market in November 2020 with much lower inventory, lower months supply of housing despite an increase in new listings, higher home sale prices, and higher pending and closed sales.
Pending sales increased 21.8% and closed salesincreased 21.9% year-over-year in November.
New listings increased 19.8% in Fort Mill year-over-year, which did little to alleviate inventory. Despite the increase in new listings, housing inventory dropped 53.7% year-over-year. The months supply of homes decreased 50% to just 1 month from 2 months in the same month one year ago.
Average days on market decreased 11 days to 29 days versus the same month one year ago. Median days on market were 5, decreasing 23 days versus the same month one year ago.
Sellers received a median 100% of list price, up 2.5% year-over-year. Buyers clearly had minimal negotiating room for Fort Mill homes.
Average home sale prices increased 4.9% in November 2020 versus November 2019, while median home sale prices increased 4.6%. Average sale price was $385,340 and median sale price was $340,000.
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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