January 15, 2021

Contact: Kim Walker, 704-940-3149

CHARLOTTE, N.C.—As 2020 ended, the strong momentum of home sales built through most of fourth quarter caused December 2020 closed sales to rise 10.9 percent year-over-year with 4,655 homes sold during the month. Looking back at a turbulent year where first quarter sales were interrupted by a worldwide pandemic, there were 54,076 home sales across the 16-county Charlotte region in 2020, representing a 5.5 percent increase over total transactions in 2019. Completed transactions include single-family and condo/townhomes only.

Pending sales in December 2020 continued to show tremendous demand from buyers throughout the region, soaring 33.9 percent year-over-year as 3,808 homes went under contract during the month. For all of 2020, pending sales topped out at 56,800 contracts, representing a 9.6 percent increase over contract activity in 2019. This level of activity shows buyer demand should continue to be healthy in 2021.

With strong seller’s market conditions prevalent throughout the year, prices continued to increase. In 2020 the average list price of a home in the region was $355,292, an increase of 6.8 percent over 2019’s average list price. The average sales price for 2020 topped out at $334,985, representing an increase of 10.3 percent over the 2019 average sales price, while the median sales price, the best measure of prices over time, was $280,000 in 2020, registering a 9.8 percent increase over the median sales price in 2019. The original list price to sales price ratio for all of 2020 was 98.0 percent, showing sellers in the region were getting nearly all of their asking prices. Low supply amidst strong buyer demand will continue in the 2021 housing market and will keep prices elevated.

"Given the 2020 pandemic, which interrupted the spring selling market and caused real estate agents to quickly pivot to a nearly virtual sales environment, it’s remarkable to see home sales last year outperform 2019," said 2021 Association/Canopy MLS President David Kennedy. "However, we are aware that job recoveries have stalled a bit in January, and fast-rising coronavirus cases continue to delay full re-opening. Still, the strong buyer demand we’ve seen this past quarter signals that steady growth should continue in 2021."

While noticeably improved from their COVID-19 spring lows, new listing activity lagged behind buyer demand for most of the year. Still, for all of 2020, sellers listed 60,486 homes for sale, a slight decline of 1.5 percent compared to 2019. New listings rose a welcome 18.2 percent year-over-year during the month of December 2020 as sellers brought 3,383 homes to market compared to December 2019.

With new listings being absorbed almost as soon as they are listed, this will continue to impact inventory, which declined 55.0 percent year-over-year, leaving the region with less than a month of supply (0.8 months of supply), or 3,860 properties for sale at report time. This time last year, the 16-county region had 8,586 homes for sale. or 2.0 months of supply.

For all of 2020 the average number of days a property was on the market from the time it was listed until it closed (list to close) was 88 days, which is down 6.4 percent compared to December 2019, while Days on Market, the metric that accrues for “Active” and “Under Contract-Show” statuses, averaged 35 days in 2020. During the month of December 2020, days on market dropped 44.4 percent year-over-year and averaged 25 days until sale.  

Canopy Realtor® Association provides monthly reports on residential real estate market activity for the Charlotte Metro region based on data from Canopy MLS. The Charlotte Metro region, which this report is based on, includes 12 counties in N.C. and four counties in S.C.

Alexander County continued its positive sales activity in December 2020, with homes sales rising 70.0 percent year-over-year as 34 homes sold compared to 20 homes sold in December 2019. Year-end figures show Alexander County’s sales for the year rising 21.0 percent over 2019 with 340 properties sold. Though pending sales fell 10.5 percent year-over-year in December 2020, pending sales activity for all of 2020 was up 16.8 percent over 2019, which means that buyer demand should still be steady over the next few months. New listing activity was also positive in December, and new listing activity for all of 2020 was up 10.4 percent over new listing activity in 2019. Prices will continue to be pressured by inventory, which fell 45.6 percent in December, leaving the county with 1.3 months of supply. Year-end figures show both the median sales price ($182,000) and the average sales price ($242,901) increased 9.0 percent and 19.3 percent, respectively, over prices in 2019. Days on market until sale averaged 49 days in 2020 compared to 59 days in 2019. Buyers will continue to see strong seller’s market conditions in 2021. Canopy MLS data.

Anson County had little home sales activity in December, as only 13 properties were sold, representing an 8.3 percent increase over sales in December 2019. However, Anson ended the year with total sales in 2020 down 9.0 percent when compared to sales in 2019. Pending contracts at year-end were unchanged from 2019 with 145 contracts for the year, while new listing activity for the year declined 27.4 percent compared to 2019 as only 130 new listings were brought to market in 2020. Year-end prices are elevated with both the median sales price ($124,950) and average sales price ($143,196) rising 11.8 percent and 14.5 percent, respectively, over prices in 2019. The county has limited supply, with inventory down 74.6 percent with just 15 homes on the market in December, which leaves the county with 1.2 months of supply. Properties were on market in 2020 an average of 92 days versus 81 days on market in 2019.  Canopy MLS data.

Cabarrus County home sales in December 2020 were up 6.3 percent year-over-year as 372 homes were sold during the month versus 350 homes sold in December 2019. Year-end figures show Cabarrus sales activity in 2020 was slightly higher than 2019, as 4,126 homes were sold in 2020, representing an increase of 1.1 percent. With inventory down 66.8 percent year-over-year and less than 15 days of supply left on market in December, prices will continue to increase as the supply dwindles. Pending sales were positive in December but only rose 3.6 percent year-over-year as buyers brought 256 homes under contract during the month. Year-end figures show contracts in 2020 were only up by 2.6 percent over 2019, which could signal slower buyer demand in the coming months. New listing activity at year-end showed that sellers listed 4,454 homes for sale in 2020, which was a 7.3 percent decline from 2019. The lack of new listings along with supply constraints will continue to pressure prices throughout the county.  Both the median sales price ($267,500) and the average sales price ($287,675) for all of 2020 were up 9.2 percent and 9.7 percent, respectively, over prices in 2019. In 2020 days on market in the county averaged 31 days compared to 39 days in 2019. Sellers in Cabarrus County got nearly all of their asking prices in 2020, with the original list price to sales price ratio at 98.2 percent. Canopy MLS data.

Catawba County home sales in December 2020 were positive, with closed sales rising 10.8 percent year-over-year as 174 homes sold compared to 157 sold in December 2019. Pending sales were also strong in December and rose 40.0 percent year-over-year as 133 properties went under contract, while new listings rose 48.4 percent year-over-year with 141 properties listed in December in a show of strong seller confidence.  Year-end figures were also positive, with closings for all of 2020 up 2.8 percent over 2019, pending sales for all of 2020 up 9.3 percent over contract activity in 2019, and new listings for all of 2020 up 1.9 percent over 2019’s new listing activity. Inventory continues to fall and was down 49.8 percent year-over-year, leaving 1.2 months of supply, which means that buyers will continue to see price increases in 2021. Both the median sales price ($205,000) and the average sales price ($268,737) for all of 2020 were up 11.1 percent and 14.5 percent, respectively, over prices in 2019. Sellers saw the original list price to sales price measure at 97.0 percent in 2020 with homes averaging 41 days on market until sale. Canopy MLS data.

Cleveland County home sales activity was positive in December with key metrics of closed sales increasing 65.4 percent year-over-year as 86 homes sold during the month, pending contracts rising 116.2 percent year-over-year with 80 properties under contract, and new listings up 93.0 percent as 83 homes were listed in December 2020. Year-end figures show Cleveland County poised for continued positive activity. The county ended the year with closed sales (850) and pending contracts (942) for all of 2020 up 43.1 percent and 60.8 percent, respectively, over sales activity in 2019. New listings, which point to seller confidence, were also strong in 2020, rising 47.1 percent over listing activity in 2019 as sellers brought 1,049 homes to market in 2020. Inventory fell 35.8 percent year-over-year in December 2020, leaving 1.3 months of supply, which means that prices will continue to increase. Year-end figures show both the median sales price ($166,400) and the average sales price ($190,634) for 2020 rose 11.2 percent and 10.7 percent, respectively, over prices in 2019. With days on market averaging 40 days in 2020, seller’s market conditions will continue in 2021. Canopy MLS data.

Gaston County home sales activity was positive in December 2020 with closings (352) increasing 4.5 percent year-over-year, pending contracts (306) rising 43.0 percent year-over-year, and new listings (273) rising 18.2 percent year-over-year. Year-end figures show the same positive trends, as closings for all of 2020 were up 7.6 percent over closings in 2019 with 3,869 homes sold in 2020. Buyer demand continues to be strong at year-end, with pending sales in 2020 rising 11.5 percent over contract activity in 2019, while new listing activity in 2020, though positive (0.6 percent), was nearly unchanged compared to 2019’s new listing activity. Inventory in December fell 56.1 percent year-over-year to less than one month of supply (0.8 months of supply), which means that buyers will continue to see prices increase in 2021. At year-end both the median sales price ($217,000) and the average sales price ($242,697) for 2020 rose 14.2 percent and 13.3 percent, respectively, over prices in 2019. Strong seller’s market conditions are prevalent, as demonstrated by days on market, which averaged 35 days in 2020. Canopy MLS data.

Iredell County ended 2020 positively with home sales rising 5.5 percent compared to 2019 as 3,786 properties were sold in 2020. Pending contracts forecast that demand will be strong going into 2021, as end-of-year figures show 3,999 properties went under contract in 2020, a 10.4 percent increase over contract activity in 2019. 2020 year-end figures show new listings down 1.4 percent compared to 2019, even as new listings soared 33.5 percent in December 2020 with 235 properties coming on market during the month. Inventory is down 54.8 percent year-over-year to 1.0 months of supply at report time, which means prices will be pressured for the foreseeable future. Year-end figures show both the median sale price ($295,000) and the average sales price ($376,760) increased 10.0 percent and 14.2 percent, respectively, over prices in 2019. With days on market at year-end averaging 45 days in 2020 versus 59 days in 2019, the market will continue to favor sellers, with homes selling nearly as quickly as they are listed. Canopy MLS data.

Lincoln County’s year-end figures were positive with closings in 2020 increasing 21.1 percent over 2019 as 1,623 total properties were sold. Pending contracts, which signal buyer demand, rose 31.3 percent over 2019 with 1,746 homes under contract in 2020, and new listings in 2020 rose 10.7 percent over 2019 as sellers brought 1,928 properties to market in 2020. Inventory at report time fell 42.4 percent year-over-year to 1.4 months of supply, which means prices will be elevated over the next few months. At year-end, both the median sales price ($308,000) and the average sales price ($350,804) in 2020 showed 10.0 percent and 13.3 percent increases, respectively, over prices in 2019. The average time a home was on market in 2020 was 55 days, which means strong seller’s market dynamics will continue in the new year.  Canopy MLS data.

Mecklenburg County ended the year on a positive note as December closed sales rose 9.5 percent year-over-year as 1,853 homes sold during the month. Buyers brought 1,475 properties under contract, an increase of 26.1 percent year-over-year in December, and new listings rose 14.3 percent year-over-year as sellers brought 1,318 properties to market. Year-end figures show closing activity in Mecklenburg County in 2020 rose 3.6 percent over 2019 sales, while pending sales, which show buyer demand, rose 6.3 percent in 2020 over 2019. New listing activity in 2020 was down 3.1 percent when compared to activity in 2019. Inventory in Mecklenburg County is critically low, falling 50.5 percent year-over-year at report time to less than one month of supply (0.8 months of supply). At year-end both 2020’s median sales price ($300,000) and average sales price ($374,917) rose 11.1 percent and 9.8 percent, respectively, over prices in 2019. In December 2020 sellers received nearly all of their asking prices as the list price to sales price measure reached 99.2 percent. For 2020 the measure averaged 98.5 percent for the year. Days on market, a key trend for sellers, showed properties averaged 30 days on market in 2020, which means that buyers will continue to see a market that heavily favors sellers in the coming months. Canopy MLS data.

Rowan County ended 2020 strong with home sales for the year up 12.4 percent as 1,892 homes were sold in 2020, while pending sales showed 2,080 homes went under contract in 2020, an increase of 24.3 percent over 2019. New listing activity was also positive in 2020 and ended the year up 10.0 percent over 2019 as sellers listed 2,216 homes for sale. Inventory, however, continues to decline and fell 54.5 percent year-over-year to less than a month of supply (0.9 months of supply) in December, which means prices will continue to increase for the foreseeable future. Both the median sales price ($190,000) and the average sales price ($210,288) for 2020 each rose by 17.8 percent over prices in 2019. Properties averaged 37 days on market in 2020 versus 48 days on market in 2019. As demand continues to outstrip supply, buyers will continue to see affordability challenged in the coming months. Canopy MLS data.

Stanly County ended the year with closed sales in 2020 up 12.1 percent over sales in 2019 as 797 homes were sold compared to 711 in 2019. Pending sales show buyer demand was strong in 2020 with the measure up 12.7 percent over 2019 as 819 properties went under contract compared to 727 in 2019. New listing activity was down slightly in 2020 compared to 2019, dipping 2.2 percent with sellers bring 858 homes to market. Inventory fell 50.6 percent year-over year to 1.2 months of supply, which will pressure prices. At the end of 2020 both the median sales price ($190,000) and the average sales price ($215,350) saw small increases of 3.6 percent and 4.9 percent, respectively, over prices in 2019. This means that prices for now are relatively stable and affordable. Still, the low inventory situation will present challenges for buyers in the coming months. Canopy MLS data.

Union County year-end figures show the county’s housing market is still healthy, though challenged by critically low inventory. Closed sales for 2020 were up 5.3 percent over 2019 with 4,741 homes sold in 2020. Pending contract activity in 2020 shows the county is still in high demand from buyers, as 4,918 properties went under contract, an increase of 7.4 percent over 2019. New listings were down 3.9 percent for the year compared to 2019, but they rose 31.4 percent year-over-year in December as sellers listed 297 properties for sale during the month. At year-end, both the median sales price ($334,986) and the average sales price ($393,864) in 2020 were up 9.8 percent and 10.3 percent, respectively, over prices in 2019. Sellers in Union County get nearly all of their asking prices, with the original list price to sales price ratio at 99.2 percent in December 2020 and 98.2 percent for the year. Inventory is tight and fell 62.8 percent year-over-year in December, leaving the county with less than one month of supply (0.6 months of supply). The inventory situation, coupled with fast days on market, which averaged 35 days in 2020, will continue to present headwinds for buyers. Canopy MLS data.

Chester County, S.C., year-end home sales rose 17.6 percent in 2020 compared to 2019 as 220 homes were sold, while 2020 had 230 pending contracts, an increase of 18.6 percent over contracts in 2019. New listings, which totaled 240 in 2020, were down 7.7 percent compared to new listing activity in 2019. Inventory fell 56.7 percent year-over-year in December 2020, leaving 1.5 months of supply of homes for sale. As supply continues to fall, prices saw large increases at year-end. Both the median sales price ($164,500) and the average sales price ($183,783) in 2020 increased 26.1 and 22.8 percent, respectively, over prices in 2019. Days on market until sale in 2020 averaged 47 days compared to 59 days on market in 2019. Faster home sales coupled with inventory challenges will continue to affect pricing and present challenges to affordability in 2021. Canopy MLS data.

Chesterfield County, S.C., home sales ended the year on a positive note with closings up 72.0 percent with 86 homes sold in 2020 versus 50 sold in 2019. Pending sales for the year were up 118.0 percent as buyers went under contract with 107 properties in 2020 versus 49 in 2019. Meanwhile, new listings rose 37.3 percent for the year as sellers brought 114 properties on market during 2020. Inventory at year-end rose 10.7 percent year-over-year and shows the county approaching buyer’s market conditions, with 5.4 months of supply in December 2020. Prices are affordable, as both the median sales price ($146,750) and the average sales price ($144,833) in 2020 rose 4.1 percent and 5.8 percent, respectively, over prices in 2019. Buyers seeking homes in Chesterfield will enjoy a slower pace of sales as indicated by days on market, which averaged 100 days in 2020 versus 82 days in 2021. Chesterfield County is poised to continue with a moderate pace of growth, as demand from buyers who are possibly commuting between Columbia, S.C., and Charlotte enjoy an easy drive along I-77. Canopy MLS data.

Lancaster County, S.C.’s housing market recovered back in June 2020, and all key indices remained strong and positive through December 2020. Closed sales, which totaled 2,261 in 2020, rose 15.2 percent over 2019. Pending contracts, which are typically seen as a good measure of future sales, rose 21.3 percent with 2,426 homes going under contract in 2020, and new listings showed sellers bringing 2,431 properties to market in 2020, a rise of 4.2 percent over 2019. Inventory fell 63.8 percent year-over-year in December, leaving less than one month of supply (0.7 months). This will continue to pressure prices this year. Year-end figures show the median sales price ($325,000) and the average sales price ($327,387) rose 8.3 percent and 10.1 percent, respectively, in 2020 compared to 2019. Days on market dipped to 29 days in December and averaged 45 days over the course of 2020. Sellers in Lancaster County got nearly all of their asking prices in 2020, with the original list price to sales price ratio registering 98.1 percent at year-end. Canopy MLS data.

York County, S.C., home sales ended the year positively with sales in 2020 up 0.3 percent compared to 2019 with 5,544 homes. Pending sales in 2020 rose 6.9 percent over 2019 as 5,916 homes went under contract, which shows buyer demand will continue to be strong even as supply falls. New listing activity at year-end 2020 was down 5.9 percent compared to 2019 with sellers bringing 6,143 properties to market last year compared to 6,531 new listings in 2019. This will continue to negatively affect inventory, which is down 64.5 percent year-over-year to less than a month of homes for sale (0.6 months of supply). Prices at year-end are relatively stable, with both the median sales price ($289,900) and the average sales price ($323,193) in 2020 rising 7.8 percent and 9.2 percent, respectively, over prices in 2019. Sellers received nearly all of their asking prices in 2020 as indicated by the 98.3 percent list price to sales price ratio. Homes sold quickly last year with days on market averaging 34 days in 2020 versus 43 days in 2019. Canopy MLS data.

For more residential-housing market statistics, visit www.CarolinaHome.com and click on “Market Data.”  For an interview with 2020 Association/Canopy MLS President John Kindbom, please contact Kim Walker.

Canopy Realtor® Association is a trade association that provides its more than 13,300 Realtor® members with the resources and services they need to conduct ethical, professional, successful and profitable businesses.  The Association is dedicated to being the region's primary resource for residential real estate information. The Association operates Canopy MLS, which has more than 20,100 subscribers and is the private cooperative Realtors® use for access to tens of thousands of residential listings in a 24-county service area, including Charlotte, the mountains area of North Carolina, South Carolina, and beyond.

Original Publish Date: 1/15/2021