Indian Land Real Estate May 2024

Indian Land, SC (29707 zip code) housing market update for May 2024

 

 

INDIAN LAND REAL ESTATE MAY 2024: WHAT TO KNOW NOW

 

Indian Land real estate May 2024 saw new listings declined slightly after a 53% increase one month ago. New listings increased 47+% year-over-year. Inventory was slightly higher than in April and almost 22% higher than in May one year ago. May 2024 inventory was also at its highest level since November 2023. The months supply of inventory declined almost one month from April’s 3.79. With  2.82 months supply of inventory, Indian Land remained a seller’s housing market.  Days on market declined to 19 days in May 2024, the third consecutive month of declines in DOM in Indian Land. List to sale price ratio improved to 100.58%, keeping opportunities for Indian Land home buyers to negotiate on price at a minimum. Average and median home prices increased both month-over-month and year=over-year. The number of properties sold in May increased 37.5% from one month ago. May’s sales (77) were at their highest level since June 2023, when they stood at 84.

 

 Indian Land Real Estate May 2024

Housing Market Trends Snapshot

Indian Land, SC (29707 zip code) housing market trends in May 2024

 

 

NEW LISTINGS IN INDIAN LAND DOWN SLIGHTLY AFTER INCREASING ALMOST 53% ONE MONTH AGO

New listings in May 2024 were 100, down 6.54% from 107 in the previous month of April. Compared with May 2023, new listings were up 47.06% from 68 listings. Compared with May 2022 new listings (192 listings) in May 2024 were lower.

 

 

INDIAN LAND INVENTORY UP MONTH-OVER-MONTH & UP YEAR-OVER-YEAR

Indian Land housing inventory increased 1.4% to 217 from 214 in the previous month of April. Compared with May 2023, the number of properties for sale increased 21.91% from 178. Compared with April 2022, inventory was up from 184 properties for sale. The May 2024 inventory was at its highest level compared with May 2023 and 2022.  May 2024 inventory was also at its highest level since November 2023, when inventory stood at 217 properties.

 

The months supply of inventory declined in May to 2.82 months from 3.79 months in March 2024. With 2.82 months supply of inventory, Indian Land remained in home seller “territory” in the month of May 2024.

 

 

INDIAN LAND  HOME SALE PRICES UP

Average home sale price in May 2024 was $590,129, up 11.77% from the average sale price of $527,994 in the previous month of April. Average sale price was also 12.59% higher than $524,122 in May one year ago. The average sale price in May 2024 was at its highest level compared with May 2023 and 2022.

 

Median home sale price in May 2024 was $550,000, up 16.4% from $472,500 in the previous month of April. Median sale price increased 5.65% from $520,580 in May 2023. The median sale price in May 2024 was at its highest level compared with May 2023 and 2022.

 

Price per square foot for Indian Land homes in May 2024 was $225, down 2.6% from the previous month of April. Year-over-year, the May 2024 price per square foot was was 6.64% higher than in May 2023 when it was $211 per square foot. 

 

 

INDIAN LAND REAL ESTATE MEDIAN HOME PRICE TRENDS

(12 Month Rolling Average)

 

 

LIST TO SALE PRICE RATIO IN INDIAN LAND OVER 100%

The list to sale price ratio in May 2024 was 100.58%, up from 99.57% in the previous months of March and from April 2023. The list to sale price ratio was also almost a full percent higher than the 99.56% in May one year ago. Indian Land home buyers continued to see little room to negotiate on price.

 

 

DAYS ON MARKET DECLINED A THIRD CONSECUTIVE MONTH

Days on market for Indian Land properties in May 2024 were 19 days, down from 32 days in the previous month of April. May’s days on market were 42.42% lower than in May 2023, which saw 33 days on market. Compared with May  2022, days on market were 15 days higher this year. April 2024 days on market were at their lowest level since September 2023, when DOM stood at 18.

 

 

NUMBER OF PROPERTIES SOLD UP

The number of properties sold in May 2024 increased 37.5% to 77 sales from 56 in the previous month of April. Compared with May 2023, sales declined 3.75% from 80. Compared with May 2022, sales declined from 84. May’s sales were at their highest level since June 2023, when they stood at 84.

 

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

 

I can help.

Call me today at 704-779-0813 or contact me here.

There’s absolutely NO OBLIGATION. A consultation with Nina Hollander is FREE

 

 

 

 MORE INFORMATION ON THE INDIAN LAND, SC HOUSING MARKET’S PERFORMANCE 

 

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SEARCH INDIAN LAND, SC HOMES FOR SALE

 

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WONDERING WHAT YOUR INDIAN LAND, SC AREA HOME IS WORTH?

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This Charlotte, North Carolina monthly real estate update for Indian Land, South Carolina is provided  by Nina Hollander with 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.”

 

Previous Indian Land Real Estate Reports

Indian Land Real Estate Report: April 2024       Indian Land Real Estate Report: March 2024

Indian Land Real Estate Report: February 2024      Indian Land Real Estate Report: January 2024

Indian Land Real Estate Report: December 2023          Indian Land Real Estate Report: November 2023

Indian Land Real Estate Report: October 2023         Indian Land Real Estate Report: September 2023

Indian Land Real Estate Report: August 2023        Indian Land Real Estate Report: July 2023

Indian Land Real Estate Report: June 2023        Indian Land Real Estate Report May 2023

   

       

 

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