Indian Land Real Estate June 2021

Indian Land real estate June 2021 unquestionably remained a seller’s market. Home prices increased, homes sold quickly with average days on market significantly lower. The months supply of homes was critically low at 0.8 months, new listings were down by 36+% and housing inventory also dropped by over 60% year-over-year. All this put downward pressure on closed and pending sales in June 2021.

 

Indian Land Real Estate June 2021 Update

 

Latest news on Indian Land real estate June 2021 and what it means for you…

 

Indian Land (29707 Zip Code) Real Estate UpateThe Indian Land, South Carolina (29707 zip code) housing market remained a seller’s market in June with just 0.8 months supply of inventory overall, down 61.9% from 2.1 months in June 2020 and down from 3.4 months in June 2019. 

 

Housing inventory was down 60.8% in June year-over-year, coupled with a 36.5% decrease in new listings year-over-year. New construction inventory, long a staple of Indian Land housing, was down 80.3% year-over-year. Resale home inventory dropped 66.7% year-over-year.

 

Both average and median sale prices increased in June 2021 to $437,021 and $420,587, respectively. Average home sale prices increased 18.4% year-over-year and median sale prices increased 14.3% year-over-year.  Average home sale prices also increased month-over-month by some $68,000. Median sale prices increased by $52,000 month-over-month. Lack of inventory continues to drive home prices up. New construction inventory was down to just 0.4 months in June 2020, putting additional pressure on sales momentum.

 

Closed sales decreased in June by 27.7% year-over-year. Pending sales decreased 45.3% versus June 2020. It was just a matter of time before the extreme lack of inventory impacted closed and pending sales in Indian Land. You can’t sell what you don’t have to sell!

 

Average days on market were 15 days (down 26 days year-over-year).  Median days on market were 3 days (down 11 days year-over-year and down 19 days versus June 2019). Because of buyer demand and razor thin inventory, Indian Land homes continued to sell in about two weeks, on average.

 

With home sellers receiving a median 102.1% of asking price in sale price (up 3.0% year-over-year), the negotiating opportunity for home buyers in Indian Land was negligible in June 2021.

 

Want to know what this would mean for your family if you decide to buy or sell an Indian Land area home?

Contact Nina Hollander if you're curious about the Charlotte real estate market

 

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 Indian Land Real Estate Highlights

June 2021 vs June 2020

Indian Land/29707 Zip Code Real Estate Report June 2021

 

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This Charlotte, North Carolina monthly real estate update for Indian Land, South Carolina is provided  by Nina Hollander, Coldwell Banker Realty, Greater Charlotte area residential real estate expert and Indian Land specialist. I’ve been opening doors for Indian Land home buyers and sellers since 1999.

 

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:

 “The Right Broker Makes All The Difference.”

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