Home sales in Fort Mill have seen a downward trend for the fourth year in a row, mirroring a regional slowdown.However, despite the decrease, there are signs of hope for the future market.
Closed sales in Fort Mill dipped a significant 29.3% compared to the previous year, exceeding the Charlotte region’s overall decline of 29.6%. Although neighboring Rock Hill (-27.3%) and Tega Cay (-35.8%) faced even steeper declines,Fort Mill’s consistent downward trend over the past four years is noteworthy.
Looking at the last year, the decline in Fort Mill (13.6%) was slightly lower than the wider Charlotte region (-20.9%). Yet,it’s important to note that this drop reflects a fourth consecutive year of decline for the area.
The median sales price in Fort Mill saw a moderate decrease of 2.6% compared to 2022. This aligns with the 1-2% declines observed in York County, the Charlotte region overall, and even areas like Tega Cay that experienced sales growth. While not a significant shift, it’s part of a broader market trend.
Despite the slight price decrease, Fort Mill boasts a median sale price of $448,000, making it more affordable than neighboring Lake Wylie’s $560,000. It’s also slightly lower than the Charlotte region’s median of $376,255, offering some appeal to budget-conscious buyers.
While home sale metrics paint a picture of decline, there are glimpses of optimism. Interest rates dipped slightly towards the end of 2023, leading to an increase in new listings. This trend suggests a potential for market recovery in the future.
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