March 17, 2022

Alexander County home sales in February rose 17.4 percent year-over-year as 27 homes sold versus 23 that sold in February 2021. Pending contracts shows buyer demand for homes is strong, as 35 homes went under contract, representing a 25 percent year-over-year increase.  New listing activity is down however compared to activity this time last year.  Sellers listed only 23 homes for sale versus 34 that were brought to market in February 2021. Inventory continues to fall and at report time showed 13 homes for sale representing a 71.7 percent contraction in the number of homes on market. Months of supply is currently 0.4 months, which means that there are 12 days of supply left at the current sales pace.  Low supply will continue to pressure prices, which are rising by double-digits.  Both the median sales price ($304,500) and the average sales price ($313,220) rose by 24.3 percent and 13.3 percent year-over-year respectively, while the average list price rose 36 percent year-over-year to $324,980.  This brought the original list price to sales price ratio to 97.9 percent, showing sellers in command of the market, while homes averaged 22 days on market until sale in February 2022.

Home sales in Anson County totaled 18 in February versus 7 in February 2022, while pending contract activity showed buyers had contracts on 19 homes versus nine during the month.  New listings showed sellers listed 11 homes for sale versus 13 listed during the same month last year.  Inventory in February showed a total of 18 homes for sale compared to 24 homes for sale in February 2021, bringing months of supply to 1.1 months.  Prices are still relatively affordable but rising. Both the median sales price ($151,500) and the average sales price ($193,289) rose 80.4 percent and 112.4 percent year-over-year respectively, while the average list price rose 67.3 percent year-over-year to $166,182. This brought the original list price to sales price ratio to 96.8 percent during the month, showing sellers receiving nearly all of asking prices.  Days on market showed homes averaged 42 days on market until sale compared to 51 days in February 2021. 

Cabarrus County home sales in February totaled 281 for a 2.8 percent year-over-year decline, compared to 289 homes that sold this time last year.  Pending contracts showed buyers wrote less contracts as well, a decline of 15.3 percent year-over-year with 282 homes under contract during the month compared to the 333 that were under contract this time last year. New listings also declined by 16.1 percent year-over-year as sellers listed 276 homes for sale versus 329 that were listed in February 2021. Inventory fell 27.9 percent year-over-year leaving 132 homes for sale or 0.4 months of supply which is approximately 12 days of supply at the current pace.  Critically challenged supply will continue to exacerbate prices in Cabarrus, which are rising by double digits.  Both the median sales price ($362,000) and the average sales price ($369,458) rose 25.7 percent and 25.6 percent year-over-year respectively, while the average list price rose 12.5 percent year-over-year to $366,784. This brought the original list price to sales price ratio to 101.5 percent, showing sellers getting all of asking price and more in Cabarrus during the month of February, while days on market showed homes averaged 20 days on market until sale. 

Catawba County home sales continue to be hot, as 165 homes were sold during the month, representing a year-over-year increase of 23.1 percent. Pending contract activity shows buyers are desirous of Catawba’s small town feel and affordable pricing. Buyers wrote contracts on 188 homes, an increase of 8.7 percent compared to last year when 173 homes were under contract. Sellers are active within the market and listed 166 homes for sale in February, an increase of 3.1 percent year-over-year compared to 161 homes that were listed during the same period last year.  Inventory declined 44.6 percent leaving 124 homes for sale or 0.6 months of supply or approximately 18 days of supply. As supply continues to fall, prices will likely show volatility. The median sales price ($245,000) increased 8.9 percent year-over-year while the average sales price ($290,680) declined 1 percent compared to last year.  The average list price for the month ($340,680) increased 22.8 percent year-over-year, which brought the original list price to sales price ratio to 98.1 percent, as sellers continue to control the market.  Homes averaged 23 days on market until sale slightly faster than last February’s 28 days on market until sale. 

Cleveland County home sales declined 17.8 percent year-over-year in February with 74 homes sold compared to 90 that sold this time last year.  Pending contracts show buyers are still interested in the area, as 103 homes went under contract, which is an increase of 2 percent over last year.  New listing activity declined 9.3 percent as sellers listed 88 homes for sale versus 97 listed this time last year.  Inventory continues to fall and showed 82 homes for sale at report time versus 108 that were for sale in February 2021, leaving 0.8 months of supply or approximately 24 days of supply at the current pace. Low inventory will continue to impact prices. Both the median sales price ($196,500) and the average sales price ($237,557) rose 13.9 percent and 26.2 percent year-over-year, while the average list price rose 12 percent compared to last year to $242,279. This brought the original list price to sales price ratio to 95 percent, showing sellers getting most of asking prices in the Cleveland County.  Homes are on market a little longer than last year, averaging 36 days on market until sale compared to 30 days in February 2022.

Gaston County home sales in February were roughly unchanged compared to the same period last year, down slightly, 0.3 percent year-over-year as 308 homes sold, just one less than sold during February 2021.  Pending sales counts however show buyer demand strong in Gaston, rising 15.8 percent year-over-year as 360 homes went under contract versus 311 during the same time last year. Sellers appear to be gearing up for the spring market and listed 322 homes for sale, an increase of 5.9 percent year-over-year compared to 304 that were listed in February 2021. Inventory however is critical and fell 44.8 percent year-over-year leaving 164 homes for sale versus 297 this time last year. Supply is currently at 0.4 months of supply, approximately 12 days of supply at the current sales pace. Low supply will impact prices, which are rising. Both the median sales price ($279,000) and the average sales price ($303,507) rose 21.3 percent and 20.7 percent year-over-year respectively while the average list price rose 16.9 percent year-over-year to $316,067.  This brought the original list price to sales price ratio to 99.4 percent in February 2022 while homes sold quickly averaging 21 days on market until sale versus 30 days on market in February 2021.

Iredell County home sales declined 16.7 percent year-over-year as 225 homes sold compared to 270 that sold in February 2021. Pending contracts signaled buyer activity is down, as 273 homes went under contract, a decline of 13.9 percent compared to last year. New listing activity was also down 15.6 percent year-over-year as 254 homes were listed versus 301 listed last February. Inventory is low and showed 198 homes for sale at report time or 0.6 months of supply, roughly 18 days of supply at the current sales pace.  Low supply will pressure prices which rose during the month.  Both the median sales price ($365,375) and the average sales price (448,670) rose 17.2 percent and 27.2 percent year-over-year respectively, while the average list price of $471,087 rose 9.1 percent over last year’s average list price.  This brought the original list price to sales price ratio to 99.8 percent as sellers receive nearly all of asking prices during the month. Homes sold fairly quickly averaging 29 days on market until sale versus 39 days on market in February 2021.

Lincoln County’s home sales declined 11.9 percent year-over-year as 104 homes sold versus 118 this time last year, while pending contracts also declined 14.3 percent year-over-year as 138 homes went under contract. New listing activity also contracted, falling 9.3 percent compared to last year as sellers listed 127 homes for sale versus 140 in February 2021. Inventory is challenged and declined 39.4 percent leaving 106 homes for sale versus 175 that were on market in February 2021, bring months of supply to 0.7 or approximately 21 days of supply at the current pace. Both the median sales price ($395,000) and the average sales price ($427,934 rose 22.8 percent and 13.3 percent year-over-year respectively, while the average list price rose 23.9 percent to $466,960.  This brought the original list price to sales price ratio to 101 percent in February as seller receive asking prices and more during the month. The pace of home sales is not as fast as last year, as homes averaged 44 days on market until sale versus 40 days on market in February 2021.   

Mecklenburg County home sales in February declined 4.2 percent year-over-year as 1,356 homes sold versus 1,416 homes that sold during the same period in 2021. Pending contracts which gauge future sales showed buyer demand falling 14.1 percent as 1,624 homes went under contract during the month versus 1,891 in February 2021. New listings also declined by 18.6 percent year-over-year as 1,585 homes were listed during the month.  Inventory continues to be challenged and contracted 53.2 percent leaving 763 homes for sale or 0.4 months of supply, which is roughly 12 days of supply at the current pace.  Low supply continues to pressure prices, which are rising.  Both the median sales price ($385,000) and the average sales price ($459,068) rose 19.8 percent and 15.2 percent year-over-year respectively, while the average list price rose 16.9 percent year-over-year to $504,954. The market highly favors sellers as indicated by the original list price to sales price measure ticking up to 101.6 percent in February, while homes sold quickly, averaging 22 days on market until sale during the month. 

Rowan County home sales declined 9.8 percent year-over-year in February as 148 homes sold versus 164 that sold in February 2021. Pending contract activity however, showed major competition building between buyers as 196 homes went under contract during the month, an increase of 29.8 percent year-over-year compared to 151 contracts written during the same month last year. New listing activity shows sellers active in the market, listing 175 homes for sale versus 154 listed in February 2021. At report time there were 102 homes for sale, a decrease of 52.3 percent year-over-year or 0.5 months of supply, which is roughly 15 days of supply at the current pace.  Supply will continue to pressure prices.  Both the median sales price ($235,000) and the average sales price ($263,820) rose 7.8 percent and 16.5 percent year-over-year respectively, while the average list price rose 21.6 percent over last year to $280,100.  This brought the original list price to sales price ratio to 98.6 percent as sellers edge closer to all of asking price while homes sold fairly quickly averaging 24 days on market until sale versus 26 days in February 2021. 

Stanly County home sales were unchanged during the month of February with only 65 homes sold, while pending contract activity showed high interest from buyers as 103 homes went under contract during the month compared to 58 this time last year. New listing activity showed sellers active in the county, listing 83 homes for sale in February 2022 versus 59 homes for sale, an increase of 40.7 percent year-over-year.  Inventory however is falling and contracted 36.7 percent compared to last year, leaving 50 homes for sale versus 79, or 0.6 months of supply, roughly 18 days of supply at the current sales pace. Both the median sales price ($266,000) and the average sales price ($345,707) rose 26.7 percent and 58.7 percent year-over-year respectively, while the average list price rose 61.8 percent to $322,313. This brought the original list price to sales price measure to 99.3 percent during the month while homes averaged 39 days on market until sale versus 43 days on market in February 2021.

Union County home sales rose 18 percent year-over-year as 308 homes sold versus 261 that sold in February 2021, while pending sales declined 8.5 percent as only 387 homes went under contract during the month.  New listings also declined 18.2 percent year-over-year as sellers listed 336 homes versus 411 listed in February 2021. Inventory declined 48.9 percent compared to last year, leaving 161 homes for sale or 0.4 months of supply, roughly 12 days of supply at the current sales pace.  Low supply pressured prices which rose. Both the median sales price ($420,000) and the average sales price ($498,068) rose 20 percent and 27.8 percent year-over-year while the average list price rose 16.2 percent to $520,786.  This brought the original list price to sales price ratio to 101.8 percent as sellers in Union receive well over asking prices in February 2022.  Homes sold quickly, leaving little room for negotiation. Homes averaged 18 days on market until sale versus 32 days on market in February 2021. 

Lancaster County, S.C.’s home sales ticked up slightly, 1.3 percent year-over-year as 158 homes sold versus 156 that sold in February 2021.  Pending contracts showed buyer interest was steady, as 189 homes went under contract during the month compared to 181 this time last year. New listings however declined 23.4 percent year-over-year as 160 homes were listed compared to 209 listed in February 2021. Inventory is tight and showed 71 homes for sale at report time compared to 177 homes for sale during the second month of the year.  Months of supply is 0.4 months or approximately 12 days of supply at the current sales pace. Low supply will pressure prices as both the median sales price ($365,5000) and the average sales price ($382,819) rose 14.3 percent and 15.1 percent year-over-year respectively. The average list price rose by 30.5 percent year-over-year to $442,491.  This brought the original list price to sales price ratio to 100.7 percent while homes were only on market 21 days versus 39 days on market until sale in February 2021.  

York County, S.C., home sales rose 4.5 percent year-over-year in February as 371 homes sold versus 355 that sold in February 2021. Pending contracts rose 3 percent year-over-year and shows buyers are still seeking homes in the area, as 450 homes went under contract versus 437 this time last year.  New listings however were down 6.6 percent compared to February 2021, as sellers listed 398 homes for sale versus 426 listed in February 2021. Inventory is tight and fell 34.4 percent year-over-year leaving 231 homes for sale or 0.5 months of supply, which is 15 days of supply at the current sales pace. Low inventory will continue to pressure prices.  Both the median sales price ($368,950) and the average sales price ($407,633) rose 21.2 percent and 21.4 percent year-over-year respectively, while the average list price rose 17 percent to $427,268.  This brought the original list price to sales price ratio to 100.7 percent as sellers receive all of asking price and more for their homes in February. Homes also sold quickly, as indicated by homes averaging 20 days on market until sale, which is four days less time on market than in February 2021.

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: 3/17/2022