Indian Land, SC (29707 zip code) real estate report for November 2019. The Indian Land housing market remains a seller’s market with just 2.8 months supply of inventory overall and homes selling more quickly. Just as it’s been for months now, the Indian Land housing market in November was all about new construction with new construction inventory up 96.1%.
Indian Land Real Estate Report: November 2019
Latest news on the Indian Land real estate market and what it means for you…
Indian Land, SC (29707 zip code) real estate report/snapshot for November 2019. The Indian Land housing market remains a seller’s market with just 2.8 months supply of inventory overall. Housing inventory was up 4.3% year-over-year despite a decrease in new listings of 7.7%, most likely due to the large increase in new construction inventory.
Both average and median sale prices decreased slightly in November to $339,794 and $326,807, respectively. However this has more to do with the price mix of homes sold in November than any diminution in real estate values in the Indian Land area.
Both closed sales and pending sales increased in November. Closed sales by 9.3% and pending sales by 4.1%.
Average days on market dropped by 11 days to 51 days year-over-year, while median days on market were just barely over one month at 35 days.
Just as it was in October and September, the Indian Land housing market in November was all about new construction.New construction listings increased 96.1%. New construction sales increased 50% year-over-year, while sales of resale homes decreased 1.7% year-over-year. New construction pending sales also increased 63.2% year-over-year in Indian Land, while dropping 22.6% for resale homes due to lack of inventory. Indian Land inventory was up 96.1% for new construction homes, but down 21.5% for resale homes.
At an average sale price of $376,587, new construction homes sold at an approximate $42,000 premium over resale homes in November 2019. With home sellers receiving 97.3% of asking price in sale price, there wasn’t much room for buyers to negotiate in November.
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This Charlotte, North Carolina real estate monthly update for Indian Land is provided byNina Hollander and Carolinas Realty Partners with Coldwell Banker Residential Brokerage, your Indian Land/Lancaster County specialists and Charlotte metro area residential real estate experts. We’ve been opening doors for Indian Land area home buyers and sellers for 20+ years.
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