The Indian Land housing market remained a seller’s market with just 2.1 months supply of inventory overall, despite an increase in new listings of 31.3% in February 2020. Resale inventory is razor-thin at just 1.4 months. Average and median home sale prices up year-over-year. Average and median days on market dropped year-over-year. Closed and pending sales increased significantly year-over-year.
Indian Land Real Estate Report: February 2020
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 February 2020. The Indian Land housing market remains a seller’s market with just 2.1 months supply of inventory overall, down 30% from 3 months in February 2019. Housing inventory was down 17.1% in February, overall, with resale inventory down 33.3% to only 1.4 months of supply. New construction inventory stood 2.8 months. The drop in housing inventory is despite an increase in new listings of 31.3%.
Both average and median sale prices increased in February to $340,973 and $329,000, respectively. Average sale prices increased 10.3% year-over-year and median sale prices increased 8.6% year-over-year. Resale home prices increased 9.9% year-over-year.
Both closed sales and pending sales increased significantly in February… closed sales by 49.1% and pending sales by 28% versus February 2019. An increase in new listings no doubt contributed to the increased sales.
Average days on market decreased to 55 days (down 15 days year-over-year) and decreased 12 days month-over-month. Median days on market were 42 days (down 8 days year-over-year).
With home sellers receiving 98.1% of asking price in sale price, there was only a small negotiating opportunity for home buyers.
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Whether You’re Buying Or Selling An Indian Land Home…
… The Right Broker Makes All The Difference!
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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