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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Thomas Hyslip lives in Tega Cay with his wife and daughter. After 27 years in the U.S. Army and Federal Law Enforcement, he retired to pursue his passion for teaching. Tom is now an Assistant Professor of Instruction at the University of South Florida. In 2 short years he has won 10 awards from the South Carolina Press Association, including first place in column writing, education beat reporting and best podcast.
