Fort Mill’s housing market remained a seller’s market in February 2020 evidenced by decreasing inventory of homes, lower months supply of housing, fewer days on market and fewer new listings coming on the market. Closed sales were down slightly in February, no doubt due to lack of inventory. Buyer demand for homes in Fort Mill continues to outpace supply causing an increase in both average and median home prices compared with February 2019.
Fort Mill Real Estate Report: February 2020
Latest news on the Fort Mill real estate market and what it means for you…
Fort Mill real estate report and housing market snapshot for February 2020. The Fort Mill housing market (29715 and 29708 zip codes) remained a seller’s market in February 2020, characterized by decreasing inventory, fewer new listings, lower days on market and lower months supply of housing (1.6 months down from 2.4 months one year ago) compared with February 2019.
Pending sales increased 4.9% in February. Closed sales dropped 2% year-over-year in February, mostly likely due to the lack of inventory coupled with fewer new listings and not due to a lack of demand for Fort Mill homes.
New listings decreased 16.1% in Fort Mill year-over-year. Housing inventory dropped 28.8% year-over-year.
Average days on market decreased 20 days to 41 days versus the same month one year ago. Month-over-month days on market also dropped — by 14 days. Median days on market were 14, decreasing 19 days versus the same month one year ago. Month-over-month, median days on market dropped by 24 days.
Sellers received 98.8% of list price, showing relatively little negotiating room for Fort Mill homes.
Average home sale prices increased 1.2% in February 2020 versus February 2019, while median home sale prices increased 1.5%. Average sale price was $341,332 and median sale price was $305,950.
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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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