October 23, 2020
Contact: Kim Walker, 704-940-3149
CHARLOTTE, N.C. – Data from Canopy MLS showed September 2020 sales throughout the four-county Catawba Valley Region rising 5.1 percent year-over-year with 353 homes sold last month versus 336 homes that sold in September 2019. Year-to-date figures show the region’s sales for the first nine months of 2020 nearly on par with sales for the months of January through September 2019, down only 0.2 percent.
Pending sales show strong demand from buyers within the region, rising 23.2 percent year-over-year to 393 properties in the pipeline of sales last month versus 319 sales pending in September 2019. Year-to-date pending sales numbers show contract activity ahead of year-to-date contract activity last year by 3.9 percent. New listings, which rose 1.8 percent year-over-year in September, show sellers within the region regaining confidence as 400 properties were listed versus 393 properties listed this time last year.
Prices are pressured by inventory, which fell 52.0 percent year-over-year to 465 homes for sale at report time, or 1.4 months of supply. The average list price throughout the region rose 22.1 percent year-over-year to $283,197. Prices increased sharply as a result of shrinking supply. Both the median sales price ($215,000) and the average sales price ($268,314) rose year-over-year by 29.5 percent and 22.0 percent, respectively. The original list price to sales price figure is up 2.4 percent compared to September 2019 at 97.5 percent. Homes are selling quickly, with days on market until sale falling 13.5 percent year-over-year to 45 days versus 52 days this time last year.
Alexander County closed sales increased 75.0 percent year-over-year with 35 homes sold compared to 20 homes sold in September 2019. Pending sales increased 18.2 percent year-over-year with 26 contracts written in September 2020 compared to 22 in September 2019. New listings increased 13.3 percent year-over-year as sellers brought 34 properties to market in September versus 30 last year. Year-to-date figures for all three indices show Alexander County well ahead of last year’s activity. The average sales price ($256,843) rose 9.8 percent year-over-year, while the median sales price ($215,000) rose 12.6 percent year-over-year. With inventory declining 46.1 percent year-over-year and supply trending at 1.8 months, price increases and volatility will continue. Days on market until sale averaged 29 days in September 2020 versus 48 days in September 2019.
Burke County’s sales declined 33.7 year-over-year to 55 sales compared to 83 homes sold in September 2019. Pending sales jumped 62.5 percent year-over-year as 78 homes went under contract during the month compared with 48 homes that went under contract in September 2019. New listings increased 15.5 percent year-over-year as sellers listed 82 homes for sale during the month compared to 71 homes listed for sale in September 2019. Inventory in Burke decreased 43.1 percent year-over-year as 115 homes were available for sale at report time compared to the 202 homes in inventory last September. This brought months of supply down to 1.7 months compared to 3.0 months of supply available in September 2019. Prices are increasing in relation to supply. The average list price rose 19.7 percent year-over-year to $234,380, while both the median sales price ($194,900) and the average sales price ($232,814) rose year-over-year by 20.3 percent and 19.2 percent, respectively. Homes sold 10 days faster than last year as days on market decreased to 58 days in September 2020 versus 68 days in September 2019.
Caldwell County home sales in September 2020 rose 5.1 percent year-over-year as 62 homes were sold compared to 59 homes sold in September 2019. Pending sales, which signal buyer demand, rose 13.8 percent year-over-year as 74 properties went under contract during the month versus 65 that were in the pipeline of sales in September 2019. New listings in September totaled 75 and were unchanged compared to new listings in September 2019. Prices spiked during September due to inventory, which is nearly half of what it was in September 2019. Inventory fell 48.6 percent year-over-year, leaving the county with 1.4 months of supply. Sellers responded to market conditions, with average list prices rising 38.7 percent year-over-year to $249,039. The average list price in September 2019 was only $179,542. Both the median sales price ($193,500) and the average sales price ($228,466) rose year-over-year by 40.3 percent and 32.6 percent, respectively. The list price to sales price ratio increased 4.3 percent to 97.9 percent, showing sellers getting closer to full asking prices. Properties sold quickly, with days on market until sale falling to 48 days versus 54 days in September 2019.
Catawba County home sales increased in September, rising 15.5 percent year-over-year with 201 homes sold compared to 174 homes sold in September 2019. Pending contracts increased 16.8 percent year-over-year as buyers brought 215 properties under contract in September 2020 versus 184 in September 2019. New listings decreased 3.7 percent year-over-year as sellers listed 209 homes for sales compared to 217 new listings offered during the same month last year. With inventory falling 58.0 percent to 208 active listings, both the median sales price ($239,500) and the average sales price ($292,317) rose year-over-year by 31.6 percent and 18.7 percent, respectively. The average list price jumped 21.7 percent year-over-year to $311,115 in September 2020. Catawba has 1.2 months of supply of homes for sale at report time and days on market is averaging 43 days.
Canopy MLS, a wholly-owned subsidiary corporation of Canopy Realtor® Association, announced the consolidation of the MLS of Catawba Valley (MLSCV), which was effective on August 31, 2020. For more information about Canopy MLS or for residential-housing market statistics, visit www.CarolinaHome.com and click on “Market Data.”
Canopy MLS is a wholly-owned subsidiary corporation of Canopy Realtor® Association and is the private broker cooperative used by Realtors® to bring buyers and sellers together with access to thousands of residential listings in a multicounty service area, including Charlotte, the mountains area of North Carolina, South Carolina, and beyond. Canopy MLS, which has 19,400 Subscribers, provides the most trustworthy, timely, accurate and complete property data along with proprietary tools for showings, market stats, predictive analytics, and more, used by its members to support consumers in their residential real estate transactions, whether selling, buying, investing or renting.
Original Publish Date: 10/23/2020