Buying or selling a home in York County? Here’s what to expect

York County SC real estate scene

A York County real estate expert discusses the local home buying market. Stats show Fort Mill, Lake Wylie and other homes are selling well.
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A York County real estate expert discusses the local home buying market. Stats show Fort Mill, Lake Wylie and other homes are selling well.

As the home sales industry puts a bow on 2018, trends continue in parts of York County of homes selling and closing faster at higher prices.

The Charlotte Regional Realtor Association just released data on home sale trends for 2018. The association covers a dozen North Carolina and four South Carolina counties in the Charlotte region. Market data breaks down by county and in places, municipality or area. Across the metro home sales are down from 2017 and inventory is low. Sales prices were up in 2018.

“Even though the overall pace of sales in 2018 was slower than the previous year, we are pleased to end 2018 with sales activity nearly on the level of 2017,” said association president Brenda Hayden. “Looking ahead, we expect a more balanced market in Charlotte and Mecklenburg County, while the surrounding counties should continue to see increased sales because of more favorable pricing and supply.”

Across the region, several trends remain unchanged in 2018.

“Realtors will have to continue to help buyers and sellers, who are now conditioned by several years of rising prices and low inventory, get used to buying and selling in this new normal,” Hayden said.

The 2018 market data allows comparison between several York and Lancaster county sites and comparable or close-by areas. In some instances, Fort Mill, Lake Wylie and other areas buck larger regional trends. New listings and closed sales, for instance, both dipped across the region, in Mecklenburg County and in Charlotte from 2017 to 2018.

York County, Rock Hill, Fort Mill and Lake Wylie all have been on fairly steady upward trends in both categories at least since 2013. Lancaster County has been, too, since 2014.

Data shows the number of sales in Lake Wylie for 2018 was nearly double from five years ago. Rock Hill increased sales in that same time by more than 600 homes, or 55 percent. Fort Mill sales steadied the past three years, but sales still were up 34 percent in 2018 compared to 2013.

The association data doesn’t include a Tega Cay breakout, though the city and unincorporated Fort Mill residential growth are accounted for in York County totals. U.S. Census Bureau data from 2013 to 2017 put Tega Cay at or slightly above Fort Mill and even Lake Wylie totals for home sales price and other housing metrics.

The new Charlotte regional data shows Fort Mill and Lake Wylie, in particular, holding their own for sales price. The Lake Wylie average was up more than $20,000 in a year, to almost $398,000 in 2018. Fort Mill was up almost $14,000 for the year, to almost $345,000.

Sellers in high-price areas like Lake Wylie and Indian Land neighbor Waxhaw, N.C., got a little less compared to their asking prices.

Homes also are spending fewer days on the market. Lake Wylie homes were on the market an average of 81 days compared to 140 days in 2013.

The 33 days a Rock Hill home was listed for sale last year is about four times faster sales than five years ago. Most homes in York and Lancaster counties spend more time listed compared to homes region-wide.

For more, visit carolinahome.com.

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John Marks covers community growth, municipalities and general news mainly in the Fort Mill and York County areas. He began writing for the Herald and sister papers in 2005 and won dozens of South Carolina Press Association and other awards since.
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