May 28, 2021
Contact: Kim Walker, 704-940-3149
CHARLOTTE, N.C. – With COVID-19 restrictions easing across the state and more of the population undergoing vaccination, April home sales, unhampered by the pandemic-induced lockdowns that slowed home sales last year, rose 19.9 percent year-over-year in April 2021, as 379 homes sold across the four-county Catawba Valley Region. Data from Canopy MLS also showed sales up 8.3 percent compared to March 2021. Transactions in this report include single-family and condo/townhome sales in Alexander, Burke, Caldwell and Catawba counties.
The region’s pending sales activity, or contracts where offers have been submitted but have not yet closed, rose 38.1 percent year-over-year as buyers brought 457 properties under contract compared to 331 this time last year, when buyers and sellers were sidelined during the first lockdowns of 2020. Contract activity compared to March 2021 is down slightly, by 1.1 percent. New listing activity however, showed increasing confidence from sellers, rising 32.9 percent year-over-year as 448 homes were brought to market. Compared to March 2021, new listing activity is up 3.9 percent month-over-month, but this is not enough activity to help the inventory situation. Long-term, inventory is still challenged and fell 64.7 percent year-over-year leaving 302 homes for sale at report time or 0.8 months of supply (approximately 26 days of supply).
Cory Klassett, president of Catawba Valley Association of Realtors® and a Realtor®/broker with RE/MAX Legendary, said, “We are pleased to see sellers getting interested in the local market, as the growth in new listing activity, especially if it continues, will help buyers with more choice. We are aware that remote learning and work-from-home situations have kept sellers from listing, but with summer approaching we hope to see more seller activity. Because the market is moving so quickly, sellers will need to work closely with a Realtor® to strategize and plan for the sale. And even with the added listings, buyers still face a difficult and fast-moving market due to inventory challenges.”
Properties continued to sale quickly in April, as indicated by days on market averaging 24 days versus 50 days a year ago. The lower supply across the region highly favored sellers, who received nearly all of asking prices in April 2021, as the original list price to sales price ratio registered 99.3 percent. Prices are rising due to pressure from critically low inventory. Both the median sales price ($206,500) and the average sales price ($265,283) rose 17 percent and 18 percent year-over-year respectively. While the average list price rose by 21.8 percent to $301,174.
Klassett notes, “Home sales closer to town centers and retail activity will continue to be highly competitive, as buyers are naturally inclined to look for homes closer to these areas. But buyers will need to concede that sellers are clearly in a position to attain the best possible price and April’s list price to sale price ratio certainly shows this trend. Pre-approval and flexibility best positions buyers in a fast-paced, housing market where there is little room for negotiation.”
A closer look at sales across the four counties
Alexander County’s sales in April 2021 rose 69.6 percent year-over-year as 39 homes sold compared to 23 homes that sold in April 2020. Pending sales were also positive and rose 39.1 percent year-over-year as buyers put 32 properties under contract during the month versus 23 that were under contract at this time last year. New listings rose a modest 4 percent year-over-year as sellers brought 26 homes to market during the month. However, inventory is still challenged and fell 71.4 percent year-over-year with only 18 properties for sale at report time. This time last year Alexander had 63 properties for sale or 2.7 months of supply. As of April 2021, Alexander County had 20 days of supply left at the current sales pace. Both the median sales price ($195,000) and the average sales price ($242,636) increased by 21.9 percent and 1.4 percent year-over-year respectively. Sellers received 97.7 percent of their original list price in April 2021 while days on market until sale averaged 26 days.
Burke County sales rose 10 percent year-over-year in April 2021 as 77 homes sold versus 70 that sold this time last year. Pending sales also rose 9.5 percent compared to April 2020 as 81 homes went under contract, while new listings jumped 16.7 percent year-over-year with 84 homes listed during the month. Inventory, however fell 63.9 percent year-over-year leaving 69 homes for sale versus 191 that were listed for sale in April 2020. At report time, Burke had 27 days of supply. Low inventory continues to pressure prices, which are rising. Both the median sales price ($200,000) and the average sales price ($261,751) rose 25.8 percent and 46.5 percent year-over-year respectively, while the average list price increased 41.2 percent to $287,672. Days on market until sale trended at 25 days in April 2021 versus 43 days this time last year.
Caldwell County’s sales in April 2021 rose 44.1 percent year-over-year as 85 homes sold versus 59 that sold in April 2020. Pending sales, which are a good gauge of buyer demand, rose 18.1 percent year-over-year with 98 homes going under contract during the month. New listings also rose 25 percent year-over-year with sellers listing 95 homes for sale during the month of April. This will not help the inventory situation, which declined 68.5 percent year-over-year leaving 53 homes for sale or 0.8 months of supply (approximately 26 days of supply). Both the median sales price ($179,000) and the average sales price ($205,408) rose 22.6 percent and 21.7 percent year-over-year respectively, as a result of low supply. The average list price of $251,782 rose 26.8 percent year-over-year. Sellers in Caldwell County received more than asking price in April 2021, as indicated by the original list price to sales price ratio registering 100.2 percent. Days on market averaged a record low 22 days during the month of April 2021 showing just how fast the local market is moving.
Sales in Catawba County rose 8.5 percent year-over-year as 178 homes sold versus 164 that sold in April 2020. Pending sales counts show an abundance of buyers, who drove 246 homes under contract, an increase of 62.9 percent over last year’s contract activity. New listings showed sellers jumping in the market, with 243 homes listed, representing a 48.2 percent year-over-year increase. Still, listing activity will not affect the critical inventory situation, which fell 62.6 percent year-over-year, leaving 162 homes for sale or 0.8 months of supply (approximately 26 days of supply). Low inventory continues to pressure prices, which are rising. Both the median sales price ($232,000) and the average sales price ($300,364) rose 19.7 percent and 14.4 percent year-over-year respectively, while the average list price ($333,074) rose 13.8 percent year-over-year as well. Sellers received most of list price as indicated by the original list price to sales price received ratio registering 99.8 percent in April 2021. Homes are not on the market for long. Days on market averaged 25 days in April 2021 versus 44 days this time last year.
Canopy MLS, a wholly-owned subsidiary corporation of, announced the consolidation of the MLS of Catawba Valley (MLSCV), which was effective on August 31, 2020. For more residential-housing market statistics, visit www.CarolinaHome.com and click on “Market Data.” For an interview with a Hickory-area Realtor®, 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, the mountains area of North Carolina, South Carolina, and beyond. Canopy MLS, which has 20,200 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: 5/28/2021