Indian Land, SC Housing Market Highlights: September 2023
Indian Land real estate September 2023 saw home sales, home prices, and new listings decline. Home sales were at their lowest level since February 2023. Housing inventory increased as did the the months supply of inventory, which increased to 3.49 months. Days on market were just 18, 14 days lower than the 2023 year-to-date average in Indian Land. List to sale price ratio was just under 100%, indicating very little opportunity for buyers to negotiate on price.
Indian Land Real Estate September 2023 Housing Market Highlights
NEW LISTINGS DECLINE MONTH-OVER-MONTH & YEAR-OVER-YEAR
New listings in September 2023 were 70, declining 19.54% from 87 in August 2023. Compared with September 2022, new listings were down 12.5% from 80 listings. The September 2023 listings were at their lowest level compared with September 2022 (80 listings) and September 2021 (89 listings). This was the lowest number of new listings in Indian Land since May, when new listings stood at 68.
INVENTORY AT ITS HIGHEST LEVEL IN SINCE DECEMBER 2022
Despite fewer new listings, the number of properties for sale in September 2023 was 220, increasing 10.55% from 199 in August. Compared with September 2022, the number of properties for sale declined 6.38% from 235 properties. Compared with September 2021, the number of properties for sale increased from 186. The September 2023 months supply of inventory of 3.49 months was at its highest level compared with September 2022 and 2021.
HOME SALE PRICES DECLINED AFTER REACHING THEIR HIGHEST LEVELS IN AUGUST 2023
Average home sale price in September 2023 was $558,784, down 10.4% from the average sale price of $564,683 in the previous month of August. September’s average sale price was 3.64% lower than one year ago in September when the average sale price was $579,917.
Median home sale price in September 2023 was $508,584, down 3.33% from August’s $526,090. Median sale price declined 14.72% from $596,345 in September 2022.
Price per square foot for Indian Land homes in September 2023 decreased 2.22% to $220 per square foot from $225 per square foot in August 2023. Year-over-year, the September 2023 price per square foot was was 7.73% higher than in September 2022 when it was $205 per square foot.
MEDIAN HOME PRICE TRENDS IN INDIAN LAND, SC
LIST TO SALE PRICE RATIO JUST UNDER 100%
The list to sale price ratio in September 2023 was 99.69%, slightly lower than in the previous month of August when it was 100.15%. Compared with September 2022, the September 2023 list to sale price ratio was flat.
DAYS ON MARKET LOW AT 18 DAYS
Days on market for Indian Land properties were 18 days, up from 15 days in the previous month of August. September’s days on market were at their highest level compared with September 2022 (14 days on market) and September 2021 (16 days on market). Nonetheless, the 18 days on market in September were at their second lowest level in 2023.
NUMBER OF PROPERTIES SOLD AT THEIR LOWEST LEVEL SINCE FEBRUARY 2023
The number of properties sold was 63 in September 2023 declining 3.08% from 65 properties sold in August 2023. Sales were also 42.73% lower than in September 2022. The September 2023 sales were at their lowest compared with September 2022 (110 sales) and September 2021 (105 sales).
Want to know what this would mean for your family if you decide to buy or sell an Indian Land area home?
If you’re thinking about selling your Indian Land area home, let’s get together and discuss the supply conditions in Indian Land neighborhoods and how I can assist you in gaining access to buyers who area ready, willing, and able to buy now.
Contact me if you’d like to receive our Neighborhood Analyzer Report on a monthly basis so you can keep track of home sales activity in your neighborhood.
Note: If you don’t see your subdivision or complex, or the data looks incomplete, it’s because there weren’t enough properties sold in a given year.
I’m happy to provide an expert home value analysis with no obligation on your part.
This Charlotte, North Carolina monthly real estate update for Indian Land, South Carolina is provided by Nina Hollander, Greater Charlotte area residential real estate expert and Indian Land specialist. I’ve been opening doors for Indian Land home buyers and sellers for 24+ years.
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: