March 27, 2025

Contact: Kim Walker, 704-940-3149

CHARLOTTE, N.C. — The Catawba Valley Region real estate market continued its steady expansion in February 2025, with increased inventory, rising home prices, and robust buyer activity shaping the market. With more homes available and an uptick in pending sales, the region is offering fresh opportunities for both buyers and sellers. The sales data in this report is sourced from Canopy MLS and encompasses single-family homes, condos, and townhomes sold in Alexander, Burke, Caldwell, and Catawba Counties.

Inventory reached 971 homes at the end of February, reflecting a 27.8 percent year-over-year increase. The months’ supply of inventory also rose to 2.8 months, up 21.7 percent from last year despite a 3.4 percent month-over-month decline. While still below the six-month threshold of a balanced market, the steady annual increase signals improved conditions for buyers who now have more choices. New construction continues to play an important role in boosting inventory for the region contributing 318 properties or 33 percent of total inventory. This is a 52.9 percent year-over-year increase.

The increase in available homes is driven by both a rise in new listings and longer market times, allowing more properties to remain active. New listings edged up 0.5 percent year-over-year to 443, marking a 9.7 percent increase from January. Four-bedroom homes made up the largest share of new inventory at 59 percent, followed by five-bedroom or larger homes, which accounted for 27 percent of new listings. Additionally, 125 newly built homes entered the market, reflecting a significant 43.7 percent annual increase.

“Even as inventory increases, buyer demand remains strong, and home prices continue to appreciate—just at a more moderate pace,” said Dawn Kilby, a Realtor®/broker with Realty Executives of Hickory and 2025 president of the Catawba Valley Association of Realtors®. “It’s a sign of a healthy, stabilizing market as we head into the spring selling season. With more options available, buyers may want to make their move now before competition heats up.”

The average number of showings per listing, which indicates buyer interest, reached 3.8 showings per listing in February, with Catawba (4.3) and Alexander (4.0) Counties leading activity, followed closely by Caldwell (3.5) and Burke (3.0) counties. Newton and Hickory experienced the highest rates, with 5.5 and 4.6 showings per listing, respectively. Three of the four counties in the region witnessed the largest buyer interest in the $199,000 - 308,999 price range with only Catawba seeing more interest in the $139,000 - 198,999 range.

Pending sales surged 15.7 percent year-over year to 368 transactions, a 16.1 percent increase over January. Reflecting continued buyer demand despite rising inventory levels. This month, 61 percent of contract activity was for four-bedroom homes. Closed sales rose 9.4 percent year-over-year and 3.9 percent month-over-month to 292 transactions. The steady pace of sales suggests that well-priced homes are still attracting strong interest, even as market times have lengthened. New construction accounted for 26 percent of closed sales in February.

Kilby continued, “Strategic pricing and curb appeal will be crucial for sellers looking to stand out. With spring traditionally bringing heightened market activity, both buyers and sellers should expect increased competition and quicker decision-making in the coming months. Partnering with a Realtor® will help ensure you're informed and positioned to succeed.”

Home prices remained on a slight upward trajectory, with the median sales price climbing 2.5 percent year-over-year to $290,000 while remaining flat month-over-month. New builds came in at $334,500. The average sales price increased 4.1 percent to $336,281 despite dipping 5.0 percent from January. The average list price for February was $435,412 which is a 16.7 percent annual increase and a 6.0 percent month-over-month increase. These price gains indicate that demand is still strong, even as more homes become available. However, affordability remains a concern for some buyers as mortgage rates and home prices continue to put pressure on purchasing power.

Homes spent an average of 56 days on the market before going under contract, a 14.3 percent increase from last year. Buyers appear to be taking a more measured approach in evaluating their options, particularly as inventory levels grow. However, sellers remained in a strong position, receiving an average of 94.7 percent of their original list price, a 0.7 percent improvement over last year. This suggests that while buyers have gained some leverage in negotiations due to the expanding inventory, sellers are still achieving competitive sales prices.

A closer look at sales across the four counties:
(Due to smaller sample sizes in counties where there is a smaller pool of listings, percentage increases or decreases may seem extreme)

Alexander County experienced a few shifts in February. New listings declined 39.5 percent to 23, while pending sales rose 68.8 percent to 27. Closed sales also increased, rising 26.7 percent to 19. The median sales price fell 43.0 percent to $265,000, and the average sales price dropped 19.6 percent to $388,163. Sellers received 98.9 percent of their original list price, up 6.2 percent from last year. Homes spent an average of 56 days on the market, a 16.7 percent year-over-year increase. Inventory grew 7.4 percent to 58 homes, with the months' supply of inventory edging up 4.0 percent to 2.6 months. The average list price decreased 16.1 percent to $324,239.

Burke County experienced a slight decrease in new listings, down 7.2 percent to 90. Pending sales saw a 9.7 percent increase to 79, while closed sales declined 8.0 percent to 46. The median sales price rose 20.4 percent to $247,500, additionally the average sales price climbed 20.4 percent to $323,946. Sellers received 92.9 percent of their original list price, reflecting a 1.9 percent improvement. Homes stayed on the market for an average of 73 days, up 43.1 percent. Inventory increased 31.3 percent to 210 homes, with the months' supply of inventory rising 24.0 percent to 3.1 months. The average list price jumped 22.5 percent to $399,932.

Caldwell County had steady market activity. New listings remained nearly unchanged at 81, while pending sales held steady at 63. Closed sales increased 11.8 percent to 57. The median sales price declined 7.3 percent to $230,000, while the average sales price fell 13.8 percent to $245,632. Sellers received 93.6 percent of their original list price, down 1.6 percent from last year. Homes spent an average of 52 days on the market, a 15.6 percent increase. Inventory grew 17.4 percent to 162 homes, with the months' supply of inventory climbing 18.2 percent to 2.6 months. The average list price surged 30.1 percent to $410,079.

Catawba County maintained positive growth trends. New listings increased 11.2 percent to 249, and pending sales grew 19.2 percent to 199. Closed sales rose 12.6 percent to 170. The median sales price increased 3.8 percent to $317,750, while the average sales price rose 7.7 percent to $364,215. Sellers received 95.1 percent of their original list price, a slight 0.4 percent improvement. Homes spent an average of 53 days on the market, up 6.0 percent. Inventory climbed 32.6 percent to 541 homes, while the months' supply of inventory grew 16.7 percent to 2.8 months. The average list price increased 13.2 percent to $467,000.

For more residential-housing market statistics, visit CarolinaHome.com and click on “Market Data.” For an interview with 2024 president of Catawba Valley Association of Realtors® Karleta Smith, Realtor®/Broker at Keller Williams Denver, 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: 3/26/2025