October 14, 2022

Alexander County closed sales increased 15.4 percent year-over-year as 30 homes sold compared to 26 in September 2021. Pending contracts were down 14.8 percent as 23 homes went under contract versus 27 this time last year. New listings however increased 7.7 percent as sellers listed 28 homes for sale compared to 26 in September 2021, which should help with inventory over time.  Inventory dipped 2.4 percent year-over-year and showed 41 homes for sale at report time or 1.5 months of supply, which is up 7.1 percent compared to last year. Buyers will enjoy the small dips in price this past month. Both the median sales price ($227,250) and the average sales price ($268,542) decreased 13.3 percent and 10.1 percent year-over-year respectively, while the average list price dropped 12.1 percent to $362,275. This brought the original list price to sales price measure to 100.8 percent in September as sellers continue to control the market.  Homes are selling quickly. Days on market until sale showed properties averaging 11 days on market until sale compared to 16 days this time last year.

Anson County closings had a deep contraction in September, falling 60.9 percent as nine properties sold during the month, compared to 23 this time last year.  Contract activity is unchanged compared to last year, while new listing activity increased 23.5 percent year-over-year as sellers listed 21 homes for sale compared to 17 in September 2021. Price declined in September, further evidence of the market shifting. Inventory increased 26.7 percent year-over-year leaving 38 homes for sale at report time or 2.7 months of supply.  This time last year Anson had just two months of supply. Increasing supply has impacted prices, which fell during the month.  Both the median sales price ($85,000) and the average sales price ($139,521) decreased 39.2 percent and 19.4 percent year-over-year respectively, while the average list price increased 58.1 percent to $251,371. This brought the original list price to sales price ratio to 90.4 percent as the seller lose some ground in asking prices received this past month. Time on market continued to increase as well. Days on market until sale showed homes averaged 43 days on market in September 2022 versus 36 days in September 2021.

Catawba County home sales fell 30.3 percent year-over-year as 166 homes sold versus 238 that sold in September 2021. Pending sales declined 2.8 percent as 209 homes went under contract compared to 215 that were under contract a year ago. New listing activity showed sellers listing 215 homes for sale, a 6.1 percent year-over-year decline compared to 229 new listings entering the market in September 2021. Inventory at report time increased 9.8 percent year-over-year, leaving 313 homes for sale or 1.6 months of supply. A year ago, there were 285 homes for sale at 1.2 months of supply.  Still, the uptick in inventory has had little effect on price growth. Both the median sales price ($279,791) and the average sales price ($351,665) rose 21.6 percent and 25 percent year-over-year respectively, while the average list price increased 12.9 percent to $377,011. This brought the original list price to sales price metric to 97 percent in September which is down 2.1 percent from last September at 99.1 percent. Homes continue to sell quickly, even as days on market rose by 4.5 percent, as homes averaged 23 days on market until sale compared to 22 days this time last year.  

Cabarrus County home sales declined in September falling 31.2 percent year-over-year as 295 homes sold versus 429 that sold in September 2021. Contract activity is also down, falling 33.7 percent year-over-year as buyers drove 250 homes under contract during the month compared to 377 in the fall of 2021.  New listing activity was also depressed and dropped 26.9 percent year-over-year as 299 homes were added to the market compared to 409 added in last September. Inventory increased 69.5 percent at report time and showed 466 homes for sale and 1.5 months of supply.  Last year there was less than a month of supply – trending at 24 days.  Prices increased.  Both the median sales price ($370,000) and the average sales price ($402,000) increased 10.4 percent and 12.7 percent year-over-year respectively while the average list price increased 17.3 percent to $394,778.  This brought the original list price to sales price ratio down to 96 percent, compared to 101.4 percent of asking prices that sellers experienced last year.  Days on market have increased 50 percent and show homes on market averaging 21 days in September compared to 14 days this time last year.

Cleveland County closed sales decreased in September, falling 19.5 percent year-over-year as 85 homes sold compared to 105 that sold in September 2021. Pending contracts fell 27.4 percent year-over-year as 69 homes went under contract versus 95 the previous September. New listing activity increased a bit, rising 2.4 percent year-over-year as sellers brought 127 homes to market this fall.  Inventory increased by 41.6 percent year-over-year leaving 245 homes for sale at report time or 2.6 months of supply.  This time last year Cleveland County had 1.9 months of supply.  Increasing supply has caused prices to be mixed. Buyers will enjoy a lowered median sales price of $245,900, which is down 4.5 percent year-over-year, while the average sales price rose 9.6 percent compared to last September to $255,110.  This brought the original list price to sales price metric to 96.4 percent, which is down 3 percentage points from last year, when it was 99.4 percent. Time on market also increased.  Homes are still selling quickly, but in September days on market until sale showed homes averaged 27 days on market compared to 15 days in September 2021. 

Gaston County home sales declined 24.5 percent year-over-year as 320 homes sold versus 424 that sold in September 2021.  Contract activity declined 21.6 percent year-over-year as 304 homes went under contract versus 388 that were under contract at this time last year.  New listing activity also fell as 365 homes were listed during the month compared to 440 that were listed last year, a decline of 17 percent year-over-year.  Inventory continued to tick up, rising 33.7 percent year-over-year, leaving 551 homes for sale at report time or 1.6 months of supply. Last year Gaston had 1.1 months of supply.  Supply has cooled prices in Gaston significantly in September. The median sales price of $300,500 was only up 1.1 percent year-over-year, while the average sales price of $329,546 increased by 5.1 percent over last year.  The average list price increased 12 percent over last year’s list price to $328,554. This brought the original list price to sales price metric down 4 percentage points to 97 percent during the month compared to 101 percent a year ago.  Days on market continued to increase, rising 39 percent, as homes in September averaged 25 days on market until sale versus 18 days this time last year.

Iredell County closed sales declined 18 percent year-over-year as 301 homes sold.  Last September 66 more homes were sold than in September 2022.  Pending contract activity declined 29.4 percent year-over-year as only 276 homes went under contract versus 391 that were under contract a year ago. New listing activity declined as well, falling 11.9 percent year-over-year as 357 homes were listed versus 405 listed in September 2021. Inventory is increasing.  Inventory at report time rose 39.7 percent leaving 595 homes for sale or 2 months of supply. This time last year Iredell had 426 homes for sale and 1.2 months of supply.  Supply is starting to impact pricing. While the median sales price if $355,000 is unchanged compared to last year, the average sales price rose 13.7 percent to $495,828 during the month.  The average list price increased 21.5 percent year-over-year to $561,448.  This brought the original list price to sales price ratio down 3.7 percent to 97 percent as sellers start to lose their grip on the market. A year ago, sellers received an over asking price as indicated by the original list price to sales price measure at 100.7 percent.  Days on market have also started to increase; homes averaged 24 days on market until sale versus 17 days this time last year.

Lincoln County home sales declined 28 percent year-over-year as 134 homes sold versus 186 that sold in September 2021. Pending sales declined 25.1 percent to 137 homes under contract versus 183 homes under contract a year ago. New listings fell 12.5 percent year-over-year as sellers listed 154 homes for sale compared to 176 listed during the same period a year ago. Inventory rose a half a percentage point leaving 218 home sales at report time, which is nearly unchanged compared to homes for sale in September a year ago. Supply has also inched up 23.1 percent to 1.6 months of supply versus 1.3 months of supply last September.  Still, all price indices rose.  Both the median sales price ($419,283) and the average sales price ($448,815) rose 16.2 percent and 15.7 percent year-over-year respectively, while the average list price increased 12.7 percent to $459,538.  This brought the original list price to sales price ratio to 97.6 percent which is down 3.6 percent compared to last year, when sellers received all of asking price and more, at 101.2 percent. Days on market until sale increased slightly and showed homes averaging 25 days on market versus 24 days on market in September 2021.

Mecklenburg County closed sales declined 21.5 percent year-over-year as nearly 1,600 homes sold compared to the little over 2,000 homes that sold in September 2021. Pending contract activity showed buyers writing fewer contracts than last year, with the total at 1,369 a decrease of 29.8 percent year-over-year. New listing activity showed sellers listed 1,674 homes for sales compared to 2,168 listed a year ago, representing a 22.8 percent decline in listing activity. Buyers will however enjoy a modest increase in supply and inventory. At report time inventory rose 25.8 percent year-over-year, leaving 2,448 homes for sale or 1.5 months of supply.  Last September Mecklenburg County had just one month of supply. The small increase in supply has done little however to ease rising prices.  Both the median sales price ($420,000) and the average sales price ($515,107) rose 18.3 percent and 21.2 percent year-over-year, while the average list price rose 25 percent to $557,719. This brought the original list price to sales price measure to 97.5 percent, which is down a bit from last September when sellers received 101.4 percent of asking prices. Homes are still selling quickly, but time on market also increased.  Days on market until sale showed homes averaged 21 days on market compared to 15 days this time last year.

Rowan County home sales increased 3.7 percent year-over-year as 197 homes sold versus 190 this time last year.  Contract activity is down however, 7.7 percent as 179 homes went under contract during the month. New listing activity is relatively unchanged, down just 1.4 percent as sellers listed 213 homes for sale compared to 216 listed in September 2021. Inventory continues to increase rising 36.5 percent at report time to 348 homes for sale or 1.8 months of supply.  This time last year there was 1.4 months of supply and 255 homes for sale in Rowan County.  Prices rose during the month.  Both the median sales price ($280,000) and the average sales price ($301,358) 24.7 percent and 18.2 percent year-over-year respectively, while the average list price increased 12.6 percent to $302,614.  This brought the original list price to sales price measure to 96.7 percent which is down from last year, when it was 99.1 percent in September. Time on market is also increasing, though homes are still selling fairly quickly. In September days on market showed homes were averaging 24 days on market until sale compared to 16 days on market this time last year.

Stanly County closed sales increased 20 percent year-over-year as 101 homes sold compared to 84 sold a year ago. Contract activity was down 9.8 percent year-over-year as 92 homes went under contract versus 102 in September 2021. New listing activity rose 3.8 percent year-over-year as 108 new listings entered the market, compared to 104 that were listed during the same period last year.  Inventory rose 79.8 percent year-over-year, leaving 187 homes for sale or 2.1 months of supply.  This time last year there was only 1.3 months of supply and 104 homes for sale. Still, the rise in inventory has done little to ease prices. Both the median sales price ($290,000) and the average sales price ($294,999) rose 17.2 percent and 2.3 percent year-over-year respectively while the average list price increased 6.2 percent to $309,137. This brought the original list price to sales price measure to 96.4 percent which is down 2 percentage points from last year’s 98.4 percent. Time on market continued to increase, as homes averaged 21 days on market until sale compared to 13 days on market this time last year.

Union County home sales dipped 23.9 percent year-over-year as 391 homes sold in Union compared to 514 that sold this time last year. Pending contract activity also declined 19.4 percent year-over-year as 332 homes went under contract compared to 412 that were under contract in September 2021. New listings fell 10 percent year-over-year as 414 homes were listed compared to 460 that entered the market during the same period last year.  Inventory rose 56.3 percent year-over-year, leaving 611 homes for sale at report time or 1.6 months of supply. This time last year Union had 27 days of supply and 391 homes for sale. Still, inventory will need to continue building in order to ease price growth. All price indices rose.  Both the median sales price ($435,815) and the average sales price ($530,579) rose 11.1 and 13 percent year-over-year respectively while the average list price increased 10.1 percent to $582,375. This brought the original list price to sales price measure down 5.1 percent to 96.7 percent in September 2022, compared to 101.9 percent during the same period last year. Time on market continues to increase.  Homes sold quickly and averaged 28 days on market, compared to 13 days on market in September 2021.

Lancaster County S.C. closed sales declined 5.9 percent as 175 homes sold in September versus 186 that sold in September 2021. Pending contract activity was unchanged and showed 161 homes under contract.  New listings ticked up 1.1 percent year-over-year as sellers listed 190 homes for sale compared to 188 listed this time last year.  Inventory increased 42.3 percent year-over-year leaving 303 homes for sale at report time or 1.7 months of supply. This time last year Lancaster had 213 homes for sale and 1.2 months of supply. Prices increased substantially. Both the median sales price ($515,000) and the average sales price ($502,401) rose 37.3 percent and 24 percent year-over-year respectively, while the average list price rose 4 percent to $446,022. This brought the original list price to sales price ratio down 2.9 percent year-over-year, to 98.2 percent compared to 101.1 percent that sellers received last September. Days on market showed homes average 19 days on market until sale compared to 16 days this time last year.

York County home sales declined 20.5 percent year-over-year as 415 homes sold compared to 522 that sold in September 2021. Contract activity declined 16.5 percent year-over-year as 394 homes went under contract during the month, compared to 472 that were under contract this time last year. New listing activity fell 15.2 percent as sellers listed 462 homes for sale versus 545 listed in September 2021. Inventory increased by 28.9 percent year-over-year, leaving 651 homes for sale at report time or 1.5 months of supply. York’s inventory last year showed 505 homes for sale or just one month of supply.  Prices are rising.  Both the median sales price ($385,000) and the average sales price ($419,081) rose 17.6 percent and 11.6 percent year-over-year respectively while the average list price increased 14 percent to $439,884. This brought the original list price to sales price metric to 98 percent in September, which is down 3 percent compared to last year, when the metric showed sellers receiving 101 percent of asking prices.  Days on market are showing homes spending a little more time on market, increasing 16.7 percent year-over-year to 21 days on market until sale versus 18 days on market in September 2021.

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