This week we turn the page to the month of October to find out what happened in the October Fort Mill real estate market. We’ve included a visual below that will help you understand as we explain.
Comparing stats year over year in October, Fort Mill has seen a +26.1 percent increase in New Listings to the market, a +10.4 percent increase in Pending Sales, a +6.0 percent increase in Closed Sales, and the Median Sales Price has increased from 2017 to August 2018 by +13.1 percent!
The Months Supply of Homes has gone down to 2.4 months, which is a -7.7 percent drop from 2017. The Months Supply of Homes indicates how many months it would take for the current inventory of homes on the market to sell, given the current pace of home sales (Findwell.com) This helps us determine whether the market is favoring the buyers or sellers. Please contact us if you’d like to know more about this or if you are interested in another location. We will be updating this on a regular basis and hope to hit many local areas as we do.
If you are interested in speaking more in-depth about the local real estate market, please reach out to us. We’d love to help you.