December 2, 2024

Contact: Kim Walker, 704-940-3149

Residential Sales Trends in York, Lancaster, Chester and  Chesterfield Counties

CHARLOTTE, N.C. — Canopy MLS reports on residential sales trends in the contiguous counties to Mecklenburg County, which includes York, Lancaster, Chester, and Chesterfield, South Carolina. Data included in this report is for single-family, condo, and townhome property types only, for the geographies mentioned above.

In October 2024, the four-county micro-market saw a slight increase in closed sales, rising by 1.8 percent year-over-year as 510 homes sold compared to 501 in October 2023. However, month-over-month sales remained steady without notable growth. Pending sales activity signaled a robust surge in buyer demand, climbing 23.7 percent with 542 homes under contract, a significant jump from the 438 recorded in October 2023. This marks the strongest increase in contract activity observed this year, emphasizing renewed market confidence. On a month-to-month basis, contract activity grew moderately by 9.1 percent.

Foot traffic remained consistent, as listings in Fort Mill continued to attract attention, averaging 5.1 showings per listing, closely followed by Rock Hill at 4.9 showings both cities up from September. York and Lancaster counties had 4.4 showings per listing this month while, Chesterfield County recorded 1.8 and Chester County followed at 1.3.

Seller activity increased substantially as new listings rose by 12.5 percent, with 677 homes brought to market compared to 602 in October 2023. Inventory levels also expanded by 27.8 percent year-over-year, totaling 1,367 available properties and equating to 2.6 months of supply—up 23.8 percent from the previous year. This increased supply reflects growing seller confidence and an evolving market. All four counties experienced increases in both new listings and total inventory.

“The surge in pending sales and the steady growth in inventory throughout October reflect a market that is adapting to both buyer demand and seller confidence,” said Colleen Coesens, a Canopy MLS Board Director representing South Carolina and a Realtor®/broker with EXP Realty, Rock Hill. “As more homes come to market, buyers are finding increased opportunities, while sellers benefit from a market still holding firm on pricing. It’s a positive sign that the balance between supply and demand is evolving.”

Despite the expanding inventory, home prices remained stable overall. The median sales price experienced a marginal decline of 0.1 percent year-over-year, settling at $384,500. In contrast, the average sales price rose by 5.1 percent, reaching $452,601. The price distribution showed increased availability in the mid-range segments, with homes priced between $250,001 and $500,000 seeing notable inventory growth. A significant driver of this trend is new construction, which accounted for 204 properties or 28 percent of the homes available in this range, indicating robust activity in this sector of the market.

Coesens added, “With inventory levels rising and homes spending slightly longer on the market, buyers are gaining more negotiating power. The growing availability of homes across different price points, particularly new construction, adds another layer of opportunity for buyers looking to enter the market or upgrade their current home. Buyers should talk with their agents about Canopy’s Down Payment Resource tool, which can assist with downpayment and closing costs.”

Homes continued to sell quickly, although the time on market lengthened. The average days on market increased to 41 days from 35 days in October 2023, a 17.1 percent rise, favoring buyers slightly in negotiation timelines.

Sellers maintained strong pricing strategies, with the percent of list price received slightly lower year-over-year, declining to 98.5 percent from 98.9 percent. However, this metric indicates homes continue to sell close to their listing prices.

A closer look at the four South Carolina counties

York County's closed sales in October declined by 6.4 percent, with 320 homes sold compared to 342 in October 2023. Contract activity reflected increased buyer interest, with pending sales up 13.1 percent year-over-year to 353 homes under contract, compared to 312 the previous year. New listings also grew by 11.9 percent, with 442 homes listed compared to 395 in October 2023. Inventory rose significantly, with 884 homes for sale (+41 percent) and a 2.6-month supply (+44.4 percent). The median sales price increased slightly by 1.3 percent to $390,000, while the average sales price rose 5.6 percent to $472,995. Days on market rose moderately by 5.6 percent, with homes averaging 38 days until sale compared to 36 last year.

Lancaster County saw a modest 4.5 percent increase in closed sales, with 138 homes sold compared to 132 in October 2023. Buyer demand surged, as pending sales climbed by 34.3 percent to 141 contracts. New listings also increased by 10.1 percent, with 163 homes listed compared to 148 in the previous October. Inventory grew 5.2 percent year-over-year to 324 homes, maintaining a 2.4-month supply (+4.3 percent). The median sales price rose by 3.2 percent to $433,500, while the average sales price increased by 9.8 percent to $461,566. Homes sold slightly faster, with days on market dropping 3.1 percent to 31 days.

Chesterfield County's closed sales nearly doubled, increasing by 80 percent to 9 homes sold compared to 5 in October 2023. Pending sales jumped significantly, up 275 percent to 15 homes under contract. New listing activity rose 40 percent, with 21 homes listed compared to 15 last year. Despite increased activity, the median sales price dipped by 4.1 percent to $235,000, while the average sales price surged by 31.9 percent to $278,267. Inventory grew by 26.8 percent to 52 homes, though the supply slightly decreased to 4.9 months (-14 percent). Homes took significantly longer to sell, with days on market increasing 216.7 percent to 95 days.

Chester County reported an 18.2 percent increase in closed sales, with 26 homes sold compared to 22 in October 2023. Pending contracts rose substantially, climbing 129.4 percent to 39 homes. New listings increased by 15.9 percent, with 51 homes added to the market. The median sales price grew by 8.1 percent to $287,900, while the average sales price declined by 4.8 percent to $260,836. Inventory rose modestly by 2.1 percent, with 99 homes for sale and a 3.2-month supply (-3 percent). Homes took longer to sell, with days on market increasing by 57.1 percent to 55 days.

Canopy Realtor^® Association provides monthly reports on residential real estate market activity for the Charlotte region based on data from Canopy MLS. This report is based on the four South Carolina counties that are also included in the Charlotte region (Chester, Chesterfield, Lancaster, and York Counties).  For more details, visit the monthly report this release is based on, and search for “Piedmont Regional Association of Realtors®". 

See also Charlotte region reports and individual county reports for York, Lancaster, Chester and Chesterfield.  For more residential-housing market statistics, visit www.CarolinaHome.com and click on “Market Data.” For an interview with Canopy MLS South Carolina representative, Colleen Coesens, Realtor®/Broker-in-charge with EXP Realty, Fort Mill, please contact Kim Walker.

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, Asheville and Catawba Valley regions spanning across North Carolina, South Carolina and outside of the Carolinas. Canopy MLS, which has 21,000 subscribers, provides the most trustworthy, timely, accurate and complete property data along with proprietary tools for showings, market stats, predictive analytics, and more. Canopy MLS is used by its members to support consumers in their residential real estate transactions, whether selling, buying, investing or renting.

Original Publish Date: 12/2/2024