Indian Land, SC (29707 zip code) real estate report for December 2019. The Indian Land housing market remained a seller’s market with just 2.4 months supply of inventory overall and fewer homes listed for sale in the month of December 2019. Just as it’s been for months now, the Indian Land housing market in December was all about new construction with new construction inventory up 52.5% and new construction listings up 36.9%.
Indian Land Real Estate Report: December 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 December 2019. The Indian Land housing market remains a seller’s market with just 2.4 months supply of inventory overall. Housing inventory was down 7.6% in December, overall, with resale inventory at only 1.6 months of supply. New construction inventory stood at 3.1 months of supply in December.
Both average and median sale prices increased in December to $345,339 and $348,535, respectively. Average sale prices increased 3.5% year-over-year and median sale prices increased 21.3% year-over-year.
Both closed sales and pending sales increased significantly in December… closed sales by 48.5% and pending sales by 33.3% versus December 2018.
Average days on market increased to 80 days (up 49 days year-over-year), while median days on market were 48 days (up 33 days year-over-year). The big increase in new construction inventory/listings no doubt increased the days on market, as new construction takes time to complete.
Just as it was in October, September and November, the Indian Land housing market in December was all about new construction.New construction listings increased 36.9% year-over-year in Indian Land, while dropping 28.2% for resale homes. Indian Land inventory was up 52.5% for new construction homes, but down 27.6% for resale homes compared with the same month one year ago.
At an average sale price of $388,972, new construction homes sold at a $65,000+ premium over resale homes in December 2019. With home sellers receiving 97.1% of asking price in sale price, there wasn’t much room for buyers to negotiate in December.
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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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