Indian Land real estate July 2023 saw home sales, days on market, housing inventory, days on market decline. Housing inventory was at its lowest level since April 2022. Home prices increased slightly over June 2023. Days on market were just 18, 50% lower than the 2023 year-to-date average. List to sale price ratio was just over 100%, indicating very little opportunity for buyers to negotiate on price. Indian Land remained a seller’s market with just 2.48 months supply of inventory.
Indian Land, SC Housing Market Highlights: July 2023
NEW LISTINGS DECLINED MONTH-OVER-MONTH & YEAR-OVER-YEAR
New listings in July 2023 were 72, declining 11.11% from 81 in June 2023. Compared with July 2022, new listings were down 25% from 96 listings. The July 2023 listings were at their lowest level compared with July 2022 (96 listings) and July 2021 (125 listings).
INVENTORY AT ITS LOWEST LEVEL IN SINCE APRIL 2022
The number of properties for sale in July 2023 was 181, equal to the previous month of June. Compared with July 2022, the number of properties for sale declined 22.98% from 235 properties. The number of properties for sale in July 2023 were also lower than in July 2021, which had 195 properties for sale. July’s inventory was at its lowest level since April 2022 when inventory stood at 165 properties. With 2.48 months of inventory in July, Indian Land is a home seller’s market.
AVERAGE & MEDIAN HOME SALE PRICES UP MONTH-OVER-MONTH | DOWN SLIGHTLY YEAR-OVER-YEAR
Average home sale price in July 2023 was $523,517, 3.58% higher than the average sale price of $505,446 in the previous month of June 2023. July’s average sale price was 5.26% lower than one year ago in July when the average sale price was $552,565.
Median home sale price in July 2023 was $485,000, increasing 2.11% from June’s $475,000. Median sale price declined 6.28% from $517,500 in July 2022.
Price per square foot for Indian Land homes in July 2023 decreased 3.69% to $209 per square foot from $217 per square foot in June 2023. Year-over-year, the July 2023 price per square foot was was 5.6% higher than in July 2022 when it was $198 per square foot.
MEDIAN HOME PRICE TRENDS IN INDIAN LAND, SC
LIST TO SALE PRICE RATIO JUST OVER 100%
The list to sale price ratio in July 2023 was 100.23%, slightly higher than in the previous month of June when it was 99.68%. Compared with July 2022, the list to sale price ratio was 2.76% lower than one year ago.
DAYS ON MARKET DECLINE TO THEIR LOWEST LEVEL SINCE SEPTEMBER 2022
Days on market for Indian Land properties was 18 days, down 35.71% from 28 days in the previous month of June. July’s days on market were at their highest level compared with July 22 (6 days on market) and July 2021 (7 days on market). Nonetheless, the 18 days on market in July were at their lowest level in nine months and speak to high buyer demand and low inventory.
NUMBER OF PROPERTIES SOLD DECLINED IN JULY 2023
The number of properties sold was 73 in July 2023 declining 12.05% from 83 properties sold in June 2023. Sales were also 23.96% lower than in July 2022. The July 2023 sales were at their lowest compared with July 2022 (96 sales) and July 2021 (109 sales).
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This Charlotte, North Carolina monthly real estate update for Indian Land, South Carolina is provided byNina Hollander,Greater Charlotte area residential real estate expert and Indian Land specialist. We’ve been opening doors for Indian Land home buyers and sellers for 24+ years.
If you’re considering selling or purchasing a home in Indian Land or anywhere in the Charlotte metro area, I’d love an opportunity to earn your business, to exceed your expectations, and to show you why experience matters and how: