Fort Mill Real Estate September 2023
Fort Mill Real Estate Snapshot: September 2023
Fort Mill real estate in September 2023 (29715 and 29708 zip codes) saw average and median home sale prices increasing both month-over-month and year-over-year. The number of properties sold declined to their lowest level since April 2023. New listings were at their lowest level since February 2023. Homes sold quickly with average days on market just 19 days in September 2023. Nonetheless, inventory increased from last month and the months supply of inventory increased to 3.67 from just 2 months one month ago. This is close to balanced market which needs four months of inventory. List to sale price ratio was just under 100%, providing home buyers few opportunities to negotiate on sale price.
SALES DECLINED YEAR-OVER-YEAR & MONTH-OVER-MONTH
Fort Mill sales in September 2023 were 91, declining 39.74% from 151 in August 2023. Year-over-year sales declined 24.17% from 120 in September 2022. Sales were also lower than in September 2021 when Fort Mill had 136 sales. This was the lowest number of sales in Fort Mill since April.
NEW LISTINGS AT THEIR LOWEST LEVEL SINCE FEBRUARY 2023
New listings in Fort Mill were 114, down 9.52% compared with August 2023 when there were 126 new listings. New listings were essentially flat compared with September 2022 (115 new listings), but much lower compared with September 2021 (145 new listings). September 2023 also saw the lowest level of new listings since February 2023.
FORT MILL INVENTORY DECLINED YEAR-OVER-YEAR | INCREASED MONTH-OVER-MONTH
The number of properties for sale in September 2023 was 334, up 9.51% from 305 in August 2023. Inventory declined 10.7% compared with September 2022, which had 374 properties for sale. Compared with September 2021 which had 307 new listings, September 2023 listings increased. In September, Fort Mill had 3.67 months of inventory (up from 2 months in the previous month).
AVERAGE DAYS ON MARKET JUST 19 DAYS IN SEPTEMBER
Average days on market in Fort Mill were 19 days, up just one day from August. Days on market were down 17.39% at 23 days compared with September 2022. Days on market were also lower compared with September 2021, which saw 21 days on market. September’s days on market were at their second lowest level in 2023 and at their second lowest level in one year. September days on market were also 12 days lower than the year-to-date DOM in Fort Mill.
LIST TO SALE PRICE RATIO JUST UNDER 100%
The September 2023 list to sale price ratio was 99.66%, essentially equal to August’s 99.89%. The list to sale price ratio remained unchanged compared with September 2022. Despite higher inventory, Fort Mill home buyers are not enjoying big discounts on home prices.
FORT MILL AVERAGE & MEDIAN SALE PRICES UP
Average home sale price increased 4.35% in September to $572,172 month-over-month from $548,319. Year-over-year, the average home price increased 10.41% from $518,217 in September 2022. The September 2023 average sale price was at its highest level compared with September 2022 and 2021.
Median home sale price increased 10.87% to $510,000 in September 2023 from $460,000 in the previous month of August. Year-over-year, the median sale price increased 10.87% from $459,000 in September 2022. The September 2023 median sale price was at its highest level compared with September 2022 and 2021.
Price per square foot was $222, up 2.3% from $217 to the previous month of August 2023 and up 4.23% from $213 in September 2022. The price per square foot was at its highest level since March 2023.
MEDIAN HOME PRICE TRENDS IN FORT MILL, SC
MORE DETAILS ON THE FORT MILL HOUSING MARKET’S PERFORMANCE
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This Greater Charlotte, North Carolina real estate monthly update for Fort Mill, SC is provided by Nina Hollander, Coldwell Banker Realty, Greater Charlotte area residential real estate expert and Fort Mill specialist. I’ve been opening doors for Fort Mill home buyers and sellers since 1999.
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