June 2021 Sales Trends Across the Charlotte Region

July 16, 2021

Contact: Kim Walker, 704-940-3149

June 2021 Sales Trends Across the Charlotte Region  

Alexander County home sales in June 2021 declined 9.4 percent year-over-year as only 29 homes sold during the month, compared to 32 that sold this time last year. Pending sales counts show an buyer demand rose 108 percent when compared to last year as 48 homes went under contract during the month, which should close within 45-60 days, insuring future sales. New listings rose a welcome 70 percent over last year, as sellers listed 46 homes for sale during the month, compared to 27 listed just as lockdowns were lifting across the state last June. Prices continue to rise in relation to inventory and supply, which is challenged, falling 58.8 percent year-over-year with 0.7 months of supply or 21 days of supply at the current sales pace. The median sales price of $219,000 spiked 41.3 percent over June 2020’s median sales price, while the average sales price ($253,017) rose 15.6 percent year-over-year. Sellers received all of asking prices and then some, as indicated by the original list price to sales price measure which topped 100.3 percent in June.  Homes sold fairly quickly with average days on market trending at 32 days in June 2021 versus 51 days this time last year. Canopy MLS data.

Anson County (Due to small sample size, figures and percentages can look extreme.) Sales in Anson County continued with positive gains, with June 2021 home sales rising 44.4 percent year-over-year s 13 homes sold versus 9 that sold last year. There was no change in pending sales, which showed just 18 homes under contract at report time. New listings rose 33.3 percent year-over-year as sellers listed 16 homes for sale, however this did little to improve inventory, which showed 30 homes compared to 32 that were on market and for sales in June 2020. Inventory fell 6.3 percent to 30 homes for sale or 2.2 months of supply at the current sales pace. Prices, though affordable in relation to prices closer to Charlotte, rose by double-digits.  Both the median sales price ($175,000) and the average sales price ($172,992) rose 40.1 percent and 39.7 percent year-over-year respectively, while the average list price rose 28.3 percent year-over-year to $171,719.  This brings the original list price to sales price ratio to 94.6 percent. Days on market until sale averaged 16 days versus 47 days this time last year. Canopy MLS data.

Cabarrus County - Sales in Cabarrus County rose 4 percent year-over-year as 417 homes sold during the month of June versus 401 that sold in June 2020. Pending sales slipped a bit, down 1.6 percent year-over-year as sellers brough 466 homes to market. Still, looking at year-to-date trends, pending sales activity is ahead of the same period last year, by 4.3 percent.  New listing activity rose 7.4 percent year-over-year as sellers brought 466 homes to market, however this will do little to improve inventory and the supply of homes in Cabarrus, which fell 56 percent year-over-year leaving 186 homes for sale or 0.5 months of supply (approximately 15 days of supply).  Prices are rising in relation to inventory, with both the median sales price ($315,000) and the average sales price ($342,662) up 15 percent and 17.8 percent year-over-year respectfully.  The average list price rose 18.9 percent year-over-year to $348,971, being the original ist price to sales price measure to 102.6 percent in June 2021.  Homes are selling at breakneck speed, as indicated by days on market until sale averaging eleven days in June 2021 versus 37 days in June 2020. Canopy MLS data.

Catawba County homes sales in June 2021 rose 34.4 percent year-over-year as 250 homes were sold in the county, while pending contract activity showed 244 homes entered the pipeline of sales, an increase of 8.9 percent in demand, over last year. New listing activity increased substantially, rising 46.4 percent with 284 homes listed versus 194 that were listed in June 2021. Prices are rising as inventory continues to shrink. Inventory fell 35.6 percent year-over-year leaving 213 homes for sale or 1.1 months of supply. This has impacted both the median sales price ($246,150) and the average sales price ($322,168) which rose 21.9 percent and 26.4 percent year-over-year respectfully, while the average list price in June 2021 rose 3.4 percent to $318,581. Sellers received more than asking prices according to the original list price to sales price measure, which topped 101 percent in June. Buyers have little negotiating room, since the market is moving quickly as noted by days on market dropping to 16 days in June versus 41 days in June 2020. Canopy MLS data.

Cleveland County - Sales in Cleveland County rose 29.9 percent year-over-year as 104 homes were sold versus 80 that sold in June 2020. Pending sales were on par with June 2020, dipping slightly, down 1.9 percent year-over-year as 105 homes went under contract during the month versus 107 in June 2020. New listings continued their positive streak rising 41.5 percent year-over-year as sellers brought 116 homes to market versus 82 new listings in June 2020. Inventory is critically low, falling 37 percent year-over-year leaving 80 homes for sale or 0.9 months of supply (approximately 27 days of supply) at the current sales pace. This time last year there were 2.2 months of supply of homes for sale in Cleveland County. As a result of low supply, prices are rising. Both the median sales price ($230,000) and the average sales price ($226,435) rose 29.9 percent and 13.7 percent year-over-year respectively, while the average list price rose 20.1 percent year-over-year to $249,100. Sellers are getting all of asking prices according to the original list price to sales price ratio of 100.4 percent in June 2021 while homes are selling quickly, as days on market averaged 15 days until sale during June 2021. Canopy MLS data.  

Gaston County homes sales declined in June 2021, falling 6.5 percent year-over-year as 371 homes were sold compared to 397 that sold in June 2020. Demand as displayed by pending contracts, is still strong and rose 13.1 percent year-over-year as buyers drove 432 homes under contract during the month. Typically homes close within 45-60 days, however with properties averaging 12 days on market in June 2021, the faster sales environment, should insure steady, future sales when these 432 homes that went under contract close. New listings rose substantially, by 44.2 percent year-over-year as sellers listed 470 homes for sale versus 326 that were listed this time last year. Inventory continues to fall and dropped 46.6 percent during the month, leaving 230 homes for sale or 0.6 months of supply (approximately 18 days) at the current sales pace. The relationship between supply and demand will continue to exacerbate prices, which rose.  The median sales price of $259,990 rose 22.6 percent year-over-year and the average sales price ($283,387) rose 19.8 percent year-over-year. The average list price increased 9.5 percent to $277,631, bringing the original list price to sales price ratio to 102.2 percent in June, a positive for sellers in the market. Like most of the region, homes are selling quickly as indicated by days on market which averaged 12 days in June 2021.  Canopy MLS data.

Iredell County homes sales rose 15.6 percent year-over-year as 400 homes sold compared to 346 that sold in June 2020, while pending contract activity decreased for a second consecutive month by 11.6 percent year-over-year as 389 homes went under contract during the month versus 440 that were under contract last June. Though sales in the pipeline generally drive closed sales, year-to-date figures show demand is still strong in Iredell and pacing at a healthy 11.3 percent ahead of midyear sales in June 2020. New listing activity was increased by 4 percent year-over-year as sellers listed 421 homes for sale compared to 405 listed in June 2020. Inventory decreased 55.8 percent leaving 286 homes for sale or 0.8 months of supply, which means there are 24 days of supply left at the current sales pace. This caused prices to increase, with both the median sales price ($346,990) and the average sales price ($455,893) rising 16.9 percent and 19.6 percent year-over year, respectively. The average list price of $461,964 rose 13.7 percent year-over-year, and the original list price to sales price ratio showed sellers getting all of asking prices and more at 101.9 percent. Days on market in June 2021 averaged 15 days versus 43 days this time last year. Canopy MLS data.

Lincoln County closed sales rose 25.2 percent year-over-year as 189 homes sold compared to 151 that sold in June 2020, while pending sales were roughly on par with last year, dipping 0.6 percent as buyers drove 172 properties under contract during the month. New listing activity was also even with last year as sellers listed 188 homes for sale. Inventory fell 59.6 percent leaving 134 homes for sale or 0.8 months of supply, which means there are approximately 24 days of supply left at the current pace. Supply pressured prices, which rose during the month.  Both the median sales price ($360,000) and the average sales price ($415,493) rose 22 percent and 22.5 percent year-over-year, respectively, while the average list price ($395,828) rose 15.8 percent year-over-year. The original list price to sales price ratio was 100.4 percent, which shows sellers are getting more than asking prices in the county, while days on market until sale averaged 17 days in June 2021.  Canopy MLS data.

Mecklenburg County home sales were roughly on par with sales in June 2020, dipping by 0.8 percent as 2,126 homes sold versus 2,144 that sold last year. Closed sales compared to May 2021 were up by 7.3 percent, while midyear figures show year-to-date sales at a healthy pace, 16.8 percent ahead of sales during the first six months of last year. Pending contracts also slipped a bit, falling 4.6 percent year-over-year as 2,223 homes went under contract during the month compared to 2,331 that were under contract this time last year. However, midyear figures continue to show that the demand for homes is still strong in Mecklenburg County and ahead of the first six months of 2020 by 10 percent. New listings continue to be a welcome sign for buyers as sellers brought 2,449 homes to market in June, an increase of 8 percent year-over-year. Inventory is critically low and fell 49.9 percent during the month, leaving 1,364 homes for sale or 0.7 months of supply (approximately 21 days) at the current sales pace. Though new listing activity is positive, buyers will find that homes are selling nearly as fast as they’re listed, as indicated by days on market which averaged 13 days in June 2021.  Prices are rising in relation to supply.  Both the median sales price ($360,000) and the average sales price ($463,647) rose 19.7 percent and 25.3 percent year-over-year respectively, while the average list price rose 18.5 percent year-over-year to $494,128. Sellers received more than asking prices in June as indicated by the original list price to sales price ratio of 102.4 percent.  Canopy MLS data.

Rowan County closed sales rose 12.8 percent year-over-year as 202 homes were sold compared to 179 that sold in June 2020, while pending sales increased 17.1 percent year-over-year as 226 properties were brought under contract. New listing activity increased 15.8 percent year-over-year as 242 homes were listed for sale compared to 209 that were listed in June 2020. Inventory in Rowan County pushed lower, falling 52.6 percent year-over-year and leaving 147 homes for sale or 0.8 months of supply, which means there are 24 days of supply left at the current sales pace. The dynamic of low supply and rising demand caused prices to increase.  Both the median sales price ($226,500) and the average sales price ($241,673) rose 22.4 percent and 15.2 percent year-over-year, respectively, while the average list price rose 29.5 percent year-over-year to $283,063. The original list price to sales price ratio was 98.8 percent, showing sellers getting nearly all of asking prices, while days on market fell to 17 days in June 2021 versus 39 days this time last year. Canopy MLS data.

Stanly County closed sales in June 2021 rose 27.7 percent year-over-year as 83 homes sold compared to 65 homes that sold last year, while pending sales increased 10.7 percent year-over-year as 93 homes were brought under contract during the month. New listing activity compared to last year rose 32.4 percent year-over-year as sellers listed 98 homes for sale versus 74 listed in June 2020. Inventory fell 39.5 percent year-over-year leaving 69 homes for sale and 0.9 months of supply, which means there are 27 days of supply at the current sales pace. The dynamic of low supply amidst rising demand caused prices to increase.  Both the median sales price ($230,000) and the average sales price ($276,139) rose 10 percent and 19.1 percent year-over-year, respectively, while the average list price of $276,032 increased 11 percent compared to last year. Sellers are inching closer to getting all of asking prices as indicated by the original list price to sales price measure at 99.7 percent during the month while days on market were faster and averaged 10 days versus 63 days in June 2020.  Canopy MLS data.

Union County sales increased 4.9 percent year-over-year as 492 homes sold compared to 469 that sold in June 2020, while pending contracts were roughly on par with last year, dipping 0.8 percent year-over-year as buyers drove 494 homes under contract during the month. Pending contract activity remains healthy in the county, according to year-to-date figures, which show under contract sales activity rising 13.7 percent over midyear activity last June.  New listing activity increased 13.1 percent as sellers listed 518 homes for sale versus 458 listed last year. Inventory fell 58.2 percent year-over-year leaving 248 homes for sale or 0.6 months of supply, which means there are 18 days of supply at the current sales pace. Lower than usual supply continues to pressure home prices which are rising.  Both the median sales price ($405,000) and the average sales price ($487,399) rose 21.3 percent and 23.4 percent year-over-year, respectively, while the average list price rose 12.7 percent year-over-year to $453,033.  The original list price to sales price measure topped 103 percent, which shows sellers getting all of asking prices and more, during the month of June 2021, while days on market until sale averaged 9 days. Canopy MLS data.

Chester County, S.C., (Due to small sample size, figures and percentages can look extreme.)   Home sales in June declined 21.4 percent year-over-year as 22 homes sold compared to 28 that sold in June 2020, while pending contracts increased 8.3 percent year-over-year with 26 homes brought under contract during the month. New listing activity increased 171.4 percent year-over-year with 38 homes listed versus 14 that were listed in June 2020. Inventory increased a bit, rising 2.9 percent year-over-year leaving 36 homes for sale or 1.9 months of supply. Both the median sales price ($178,750) and the average sales price ($220,882) rose 1.5 percent and 34.5 percent year-over-year, respectively. The average list price rose 49.2 percent year-over-year to $270,418 during the month of June 2021, and the original list price to sales price ratio was 96.7 percent in June as sellers get closer to asking prices. Days on market until sale averaged 15 days versus 59 days in June 2020.  Canopy MLS data.

Chesterfield County, S.C., (Due to small sample size, figures and percentages can look extreme.)  Home sales declined 33.3 percent year-over-year as six homes sold compared to nine in June 2020, while pending contract activity rose 27.3 percent as buyers brought 14 properties under contract during the month. New listing activity declined by 7.1 percent year-over-year as sellers listed 13 homes for sale versus 14 last June.  However, year-to-date figures show the county pacing ahead of 2020 closed sales, pending sales and new listing activity, here at midyear. Inventory fell 15.6 percent year-over-year leaving 27 homes for sale or 2.5 months of supply.  Prices rose in relation to supply.  Both the median sales price ($1191,750) and the average sales price ($290,917) rose 17.3 percent and 86.4 percent year-over-year, respectively, while the average list price rose 40.9 percent year-over-year to $226,385. The original list price to sales price measure was 96.2 percent in June 2021, while days on market until sale fell to 94 days versus 200 days in June 2020. Canopy MLS data.

Lancaster County, S.C.’s home sales in June 2021 declined 12.8 percent year-over-year as 205 homes sold versus 235 that sold this time last year. Pending sales also dropped substantially by 31 percent year-over-year as buyers drove 178 homes under contract compared to 258 that were under contract last year. Looking at year-to-date figures closed sales are ahead of the first six months of 2020 by 12.1 percent, however year-to-date pending sales are also negative, which could mean that buyers are fatigued by Lancaster’s critically low inventory, which has made it difficult to find homes for sale, amidst increasing prices. New listing activity was also negative and fell 26 percent year-over-year as sellers listed 185 homes for sale versus 250 that were listed in June 2020. Still, inventory, which fell by 67.1 percent year-over-year, leaving 0.6 months of supply or 18 days of supply, continues to pressure prices. Both the median sales price ($385,000) and the average sales price ($371,215) rose 11.6 percent and 7.8 percent respectively, over prices last year, while the average list price rose 15 percent over last June’s list price to $424,074.  Sellers received all of asking prices and more, as indicated by the original list price to sales price ratio of 102.2 percent. Days on market averaged 14 days in June 2021 versus 48 in June 2020.  Canopy MLS data.

York County, S.C., home sales rose by 14.6 percent year-over-year in June, as 596 homes were sold compared to 520 that sold in June 2020, while pending sales were mostly on par with last year, falling slightly by 1.2 percent year-over-year as 556 homes entered the pipeline of sales. New listing activity rose 12.4 percent year-over-year as sellers, who received 102.3 percent of list price in June, brought 598 homes to market.  Though new listings should help buyers with more choice, it does little to increase inventory, which is critically low and fell 57.9 percent in year-over-year in June, leaving 281 homes for sale or 0.6 months of supply (approximately 18 days) at the current sales pace. This dynamic of low supply continues to pressure prices. Both the median sales price ($336,000) and the average sales price ($391,880) rose 14.3 percent and 23 percent year-over-year, respectfully, while the average list price ($397,124) rose 14.7 percent year-over-year in June 2021. York’s housing market is moving quickly as indicated by days on market, which averaged 12 days in June 2021 versus 39 days in June 2020. Canopy MLS data.

Original Publish Date: 7/16/2021