Fort Mill’s housing market (29715 and 29708 zip codes) remained a home seller’s market in November 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 November. Inventory remains low and buyer demand has not abated.
Fort Mill Housing Market Snapshot: November 2021
Latest news on the Fort Mill real estate market in November 2021 and what it means for you…
Fort Mill’s housing market (29715 and 29708 zip codes) remained a seller’s market in November 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 1.6%. Closed salesdropped 10.3% year-over-year in November. Lack of inventory limited the number of pending and closed sales in November.
New listings decreased 18.9% in Fort Mill year-over-year. Housing inventory dropped 48% year-over-year. The months supply of homes decreased 50% to 0.6 months from 1.2 months in the same month one year ago and from 2.1 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 14 days to 14 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 24 days versus November 2019. Average days on market were also three days lower month-over-month. 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 November 2021. On average, listed homes had 14.8 showings, up 45.1% from 10.2 showings in November 2020. In November 2019 listed homes had an average of 6.1 showings. It’s a matter of more buyers “chasing” after fewer homes.
Sellers received a median 100.9% of list price, up 0.9% year-over-year. Home buyers had minimal negotiating room for Fort Mill homes.
Average home sale prices increased 19% in November 2021 versus November 2020. Median home sale prices increased 25.5%. Average sale price was $463,556. Median sale price was $430,000. Both average and median home sale prices increased month-over-month. Greater demand for homes than supply of homes continues to drive home prices up. Price per square foot increased to $186, up $33/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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