February 16, 2022

January 2022 Residential Sales Trends Around the Charlotte Region  

Alexander County home sales in January 2022 rose 80 percent year-over-year as 27 homes sold versus 15 this time last year. Pending contract activity showed buyers retreated a bit, falling 3.6 percent year-over-year with 27 homes under contract versus 28 in the sales pipeline during the same period. New listing activity was unchanged, as sellers listed just 25 homes for sale. Prices are rising in relation to low inventory.  Inventory was down 36.5 percent year-over-year leaving 25 homes for sale versus 41 at report time in January 2021.  This is approximately 0.8 months of supply or 24 days of supply at the current pace. Prices remain affordable. Both the median sales price ($232,490) and the average sales price ($264,547) rose 10.2 percent and 23.1 percent year-over-year respectively, while the average list price declined by 36.5 percent year-over-year to $296,760. This brought the original list price to sale price ratio to 99 percent at the start of January, as sellers receive nearly all of asking price. Homes sold quickly and averaged 21 days on market until sale versus 38 days on market this time last year.

Home sales in Anson County totaled 16 in January 2022 compared to nine sold this time last year.  There were 18 homes under contract during the month compared with 10 under contract in January 2021. New listing activity showed sellers listed 15 homes for sale this past month.  Inventory is low and at report time showed just 25 homes for sale compared to 20 last year, an increase of 25 percent year-over-year. However, low inventory is causing volatility in pricing, which is still relatively affordable.  Both the median sales price ($194,950) and the average sales price ($220,988) rose 50.1 percent and 46.9 percent year-over-year respectively, while the average list price decreased 6.3 percent year-over-year to $152,680. This brought the original list price to sales price measure to 96.2 percent, showing sellers getting closer to all of asking price, while days on market showed homes averaging 43 days on market until sale. 

Cabarrus County home sales started the year off 9.9 percent higher than sales in January 2021, with 278 homes sold versus 253 this time last year. Pending contract activity is mostly on par with last year, rising 0.3 percent as 314 homes went under contract during the month. New listing activity however, fell 10.3 percent year-over-year as sellers brought 279 homes to market versus 311 that were listed in January 2021. Inventory is tight and showed 126 homes for sale at report time versus 218 this time last year. Months of supply trended to levels never seen before, with 0.3 months of supply remaining, which is roughly nine days of supply at the current pace. Prices rose in response.  Both the median sales price ($329,500) and the average sales price ($346,943) rose 24.3 percent and 19.7 percent year-over-year respectively, while the average list price rose 19.6 percent year-over-year to $362,088.  This brought the original list price to sales price ratio to 101.3 percent, as sellers clearly in command of Cabarrus’ housing market, received more than asking prices at the start of the year. The pace of sales is fast. Homes averaged 19 days on market until sale in January. 

Catawba County homes sales rose 23.1 percent year-over-year as 165 homes sold this past month versus 134 that sold in January 2021. Pending contracts rose 8.7 percent as buyers drove 188 homes under contract during the month compared to 173 this time last year.  New listing activity showed sellers getting into the market as they listed 166 homes for sales versus 161 homes listed in January 2021. Prices were mixed, but still affordable.  The median sales price ($245,000) rose 8.9 percent year-over-year while the average sales price ($290,680) declined 1 percent compared to last year. The average list price jumped 22.8 percent year-over-year to $340,680.  This brough the original list price to sales price ratio to 98.1 percent as sellers received close to asking price this past January. Homes sold quickly.  Days on market until sales showed homes on market for 23 days versus 28 days in January 2021. 

Cleveland County closed sales rose 16.3 percent as 93 homes sold versus 80 that sold in January 2021.  Pending sales shows buyer demand rose 12.9 percent as 114 homes went under contract during the month compared to 101 this time last year.  New listing activity however, dropped 18.9 percent as sellers, probably impacted by seasonality, listed 86 homes for sale versus 106 listed in January 2021. Inventory is low and will continue to pressure prices this year, which are rising. Inventory at report time registered 99 homes for sale or one month of supply.  Both the media sales price ($214,000) and the average sales price ($222,129) rose 22.3 percent and 5.8 percent year-over-year respectively, while the average list price rise 42.6 percent year-over-year to $296,248.  This brought the original list price to sales price ratio to 96.9 percent, showing sellers getting closer to all of asking price.  Homes are not on market for long.  Days on market in January 2022, showed homes averaged 28 days on market until sale versus 23 days on market this time last year.

Gaston County home sales in January increased 23.1 percent year-over-year as 255 homes sold during the month versus 248 that sold this time last year.  Pending sales however, slipped 5.2 percent year-over-year as buyers pulled back slightly and drove 363 homes under contract during the month versus 383 in January 2021.  New listing activity was also down during the month of January, falling 16.9 percent year-over-year as 310 homes sold versus 373 that sold in January 2021.  Prices are rising in relation to tight inventory which showed 178 homes for sale or 0.5 months of supply, which is roughly 15 days of supply at the current pace. In response both the median sales price ($277,000) and the average sales price ($288,179) rose 23.1 percent and 18.3 percent year-over-year respectively, while the average list price of $312,869 rose 12.9 percent year-over-year.  This brought the original list price to sales price ratio to 99.8 percent, showing sellers in Gaston receiving nearly all of asking prices for their homes in January, while homes continued to sell quickly, as indicated by homes averaging 21 days on market until sale in January 2022.

Iredell County home sales fell 7.3 percent year-over-year as 265 homes sold versus 286 that sold in January 2021. Pending contracts show buyer demand has fallen dramatically, down 24.5 percent year-over-year as 275 homes went under contract versus 264 that sold during the same period last year. New listing activity also contracted sharply, falling 33.3 percent year-over-year as sellers listed 220 homes during the month versus 330. Prices are rising in relation to tight inventory, which showed 201 homes for sale at report time of 0.6 months of supply or approximately 18 days of supply at the current pace. Both the median sales price ($358,000) and the average sales price ($442,365) rose 18 percent and 20.8 percent year-over-year respectively, while the average list price rose 23.4 percent year-over-year to $488,818. Sellers received nearly all of asking prices as indicated by the original list price to sales price ratio registering 99 percent in January. Homes were on market for a little under a month.  Days on market until sale showed homes were on market for 27 days in January 2022.

Lincoln County’s home sales in January totaled 104 and registered an increase of 6.1 percent year-over-year, while pending sales fell 3.7 percent year-over-year as 156 homes went under contract during the month. New listing increased 5.4 percent as sellers brought 137 homes to market.  Inventory is tight and fell 44.2 percent year-over-year leaving 115 homes for sale at report time or 0.7 months of supply (approximately 21 days of supply).  Both the median sales price ($419,745) and the average sales price ($433,133) spiked 34.1 percent and 29.6 percent year-over-year respectively, in response to the extremely tight inventory situation, while the average list price rose 4.3 percent year-over-year to $420,899.  Sellers in Lincoln County received 98.5 percent of asking prices, according to the original list price to sales price ratio in January, while homes were on market for 17 days versus 41 days this time last year. 

Mecklenburg County homes sales in January were relatively flat compared to last year dipping 1.7 percent year-over-year as 1,371 homes sold versus 1,395 that sold in January 2021. Pending contracts showed buyer demand fell by 7.3 percent as only 1,653 homes went under contract during the month compared to 1,783 under contract in January 2021. New listing activity showed seller confidence declined by 15.9 percent year-over-year as 1,464 homes were listed this past month. Inventory is critically low and showed 798 homes for sale or 0.4 months of supply roughly 12 days of supply at the current sales pace. The low inventory situation impacted prices and will continue to present headwinds for buyers this spring.  Both the median sales price ($375,000) and the average sales price ($451,904) rose 21.8 percent and 18.4 percent year-over-year respectively, while the average list price rose 10.6 percent year-over-year to $479,903.  Sellers in Mecklenburg County received 101.2 percent of asking price according to the original list price to sales price ratio in January, while their homes averaged 22 days on market until sale. 

Rowan County home sales in January 2022 increased 4.3 percent year-over-year with 147 homes sold versus 141 that sold this time last year.  Pending contract activity was roughly unchanged as buyers drove 162 homes under contract during the month and increase of 0.6 year-over-year, while new listing activity showed sellers listed 152 homes for sale, an increase of 3.4 percent year-over-year.  Inventory is low and fell 43.1 percent year-over-year leaving 128 homes for sale or 0.7 months of supply (21 days of supply). Both the median sales price ($233,990) and the average sales price ($276,587) rose 10.4 percent and 18.6 percent year-over-year respectively, while the average list price rose 25.4 percent to $291,584. This brought the original list price to sales price ratio to 97.6 percent as sellers get very close to asking prices in Rowan County.  Homes sold quickly.  Days on market until sale showed homes averaged 26 days on market in January 2021 compared to 29 days on market this time last year. 

Stanly County home sales in January 2022 were unchanged compared to last year with 56 homes sold during the month, while pending contracts showed demand rose 22.4 percent as 82 homes went under contract in January.  New listing activity soared 60 percent year-over-year as sellers listed 88 homes for sale versus 55 this time last year. Inventory is low and fell 13.3 percent year-over-year leaving 78 homes for sale at report time of 0.9 months of supply (27 days of supply) at the current pace.  Supply will pressure prices this year as supply trends lower. Both the median sales price ($210,500) and the average sales price ($272,914) rose 18.1 percent and 31.4 percent year-over-year respectively, while the average list price rose 40.1 percent year-over-year to $301,827.  This brought the original list price to sales price measure to 96.5 percent, showing sellers receiving nearly all of asking prices, while days on market showed homes were on market 32 days on average in January 2022 versus 25 days in January 2021.

Union County home sales in January dipped 1.8 percent year-over-year as 269 homes sold versus 274 that sold in January 2021.  Pending contract activity declined by 14.1 percent year-over-year as 341 homes went under contract during the month while new listing activity also decline by 17.2 percent year-over-year as sellers listed 361 homes for sale. Inventory at report time showed 213 homes for sales or 0.5 months of supply (15 days of supply at the current pace).  Supply will impact prices this year.  Both the median sales price ($405,000) and the average sales price ($472,340) rose 12.4 percent and 13.6 percent year-over-year respectively, while the average list price rose 35.1 percent year-over-year to $544,388. Sellers in Union County received most of asking prices as indicated by the original list price to sales price ratio registering 100.7 during the month.  Homes sold quickly. Homes averaged 23 days on market until sale compared to 33 day this time last year. 

Lancaster County, S.C.’s home sales in January were down 18.9 percent year-over-year as 120 homes were sold versus 148 homes that sold in January 2021. Pending sales showed buyer interest is high, rising 16.1 percent year-over year as 195 homes went under contract during the month.  New listing activity showed seller confidence rising by 18.6 percent year-over-year as 191 homes were listed in January. There were only 106 homes for sale at report time or 0.6 months of supply (18 days of supply). This will impact prices this year. Both the median sales price ($359,849) and the average sales price ($381,870) rose 1 percent and 7.9 percent respectively, while the average list price rose 27 percent year-over-year to $426,528. Sellers received all of asking prices in January according to the original list price to sales price ratio, while homes were on market an average of 29 days in January 2022. 

York County, S.C., home sales fell by 15.5 percent year-over-year as 322 homes sold versus 381 in January 2021. Pending contract activity also showed buyers pulled back, as only 433 contracts were written during the month, a decrease of 6.5 percent year-over-year. New listing activity declined by 15.5 percent as sellers listed 376 homes for sale versus 445 listed in January 2021. Inventory is low and showed 277 homes for sale or 0.6 months of supply (18 days of supply) at the current sales pace. Both the median sales price ($346,000) and the average sales price ($369,663) rose 19.3 percent and 12 percent year-over-year respectively, while the average list price rose 9.5 percent year-over-year to $393,670.  Sellers in York County received all of asking price and more, as indicated by the original list price to sales price ratio of 100.3 percent in January, while their homes sold quickly averaging 19 days on market until sale. 

The Canopy Realtor® Association is a trade association that provides its more than 16,000 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 21,000 subscribers and is the private cooperative Realtors® use for access to tens of thousands of residential listings in a 16-county service area, including Charlotte, 13 counties in the mountains of North Carolina as well as the Rock Hill area of South Carolina.

Original Publish Date: 2/16/2022