November 18, 2022

Contact: Kim Walker, 704-940-3149

Alexander County closed sales rose by 5 percent year-over-year as 21 homes sold versus 20 in October 2021. Pending contract activity declined by 10.7 percent as 25 homes went under contract versus 28 this time last year. New listings were unchanged as sellers listed 31 homes for sale. Inventory rose 2.4 percent year-over-year to 43 homes for sale at report time, while months of supply increased 7.1 percent year-over-year to 1.5 months compared to 1.4 months in this time last year. With inventory still critically low however, prices increased.  Both the median sales price ($285,000) and the average sales price ($339,292) rose 57.9 percent and 33.6 percent year-over-year respectively, while the average list price increased 21.2 percent to $376,883. This brought the original list price to sales price measure to 92.5 percent, which is down compared to October 2021 when it was 95.8 percent. Homes continue to sell quickly.  Days on market until sale increased from 24 days last October to 26 days in October 2022.  

Anson County sales declined 66.7 percent year-over-year as 6 homes sold compared to 18 in October 2021, while pending sales, showed buyer demand increased 100 percent as 14 homes went under contract compared to seven homes under contract in October 2021. Inventory declined and showed 40 homes on market compared to 44 on market at report time, while months of supply declined 12.9 percent year-over-year to 2.7 months of supply from 3.1 months of supply last year. Inventory continues to pressure prices, which are in the affordable ranges. Both the median sales price ($186,996) and the average sales price ($201,232) rose 45 percent and 49.8 percent year-over-year respectively, while the average list price increased 22.8 percent to $253,380. This brought the original list price to sales price measure to 96.3 percent.  Days on market showed homes selling quickly in October, averaging 19 days on market until sale compared to 28 days in October 2021.  

Catawba County homes sales declined 21.2 percent year-over-year as 175 homes sold versus 222 in October 2021. Pending contract activity also declined by 17.2 percent as 183 homes went under contract compared to 221 that were under contract this time last year. New listings increased by 4.1 percent to 228 new homes added to the market versus 219 in October 2021. Buyers will enjoy the increase in inventory in October as 348 homes were for sale at report time, increase of 34.9 percent year-over-year.  Months of supply increased 38.5 percent to 1.8 months compared to 1.3 months of supply this time last year. Prices continued to rise.  Both the median sales price ($ 285,000) and the average sales price ($341,512) rose 19.5 percent and 9.7 percent year-over-year respectively, while the average list price increased 23.4 percent to $381,144. This brought the original list price to sales price metric to 97 percent which is down from 98.2 percent in October 2021. Days on market increased a bit, showing homes on market 25 days in October 2022, compared to 22 days on market this time last year. 

Cabarrus County home sales declined in December falling 46.9 percent year-over-year as 204 homes sold compared to 384 in October 2021. Pending contract activity also declined 44.3 percent as buyers drove 216 homes under contract compared to 388 this time last year. New listing activity continued to fall as well, declining 24.3 percent year-over-year as 324 homes were listed versus 428 in October 2021. Inventory however increased 86 percent year-over-year with 532 homes for sale at report time compared to 286 for sale at report time last October. Months of supply increased 125 percent year-over-year to 1.8 months from 24 days of supply last October. Prices continued to rise. Both the median sales price ($359,265) and the average sales price ($375,184) rose 16.1 percent and 12.1 percent respectively while the average list price rose 4.7 percent to $407,566. This brought the original list price to sales price measure to 95.8 percent, which is down from 100.7 percent this time last year.  Days on market showed homes in Cabarrus selling quickly, even though DOM increased to 26 days in October 2022 compared to 13 days on market this time last year.

Cleveland County homes sales declined 57.9 percent as 48 homes sold in October compared to 114 that sold this time last year. Contract activity is down 22.3 percent year-over-year as 80 homes went under contract compared to 103 in October 2021. New listing activity also declined 16.5 percent as sellers added 106 homes to market compared to 127 new listings added this time last year. Inventory increased 30.5 percent year-over-year to 244 homes for sale at report time or 2.7 months of supply, which is up from two months of supply a year ago. Prices are still rising. Both the median sales price ($250,000) and the average sales price ($254,814) increased 11.1 percent and 5.8 percent year-over-year respectively, while the average list price decreased 16.3 percent to $266,828. This brought the original list price to sales price measure to 93.8 percent down 6.1 percent from 99.9 percent last October. Days on market increased 68.4 percent, as homes averaged 32 days on market until sale compared to 19 days in October 2021.

Gaston County home sales declined 29.6 percent year-over-year as 288 homes sold versus 409 this time last year. Pending contracts were down 31.6 percent as buyers took out contracts on 266 homes versus 389 in October 2021. New listings declined 8 percent year-over-year as 343 homes were listed during the month compared to 373 in October 2021.Inventory increased 57.1 percent with 583 homes for sale compared to 371 this time last year, while months of supply increased 80 percent from one month of supply a year ago to 1.8 months in October 2022. Prices continue to rise due to tight inventory. Both the median sales price ($300,000) and the average sales price ($317,961) rose 8.7 percent and 7 percent year-over-year respectively, while the average list price increased 11.3 percent to $330,911. This brought the original list price to sales price ratio down 4.8 percent to 95.3 percent in October compared to 100.1 percent in October 2021.  Days on market until sale show home averaging 26 days on market in October compared to 25 days on market this time last year.

Iredell County home sales in October declined 34.7 percent year-over as 252 homes sold versus 386 last October. Contracts declined 26.5 percent year-over-year with 266 homes going under contract in the month compared to 362 that were under contract in October 20221. New listing activity, which also signals seller confidence, continued to fall; and was down 28.8 percent as 282 homes were listed in October. Slow changes in listing activity coupled with less demand has helped inventory to rise.  Inventory at report time increased 45.3 percent year-over-year to 616 homes for sale at report time, which is 2.1 months of supply. This time last October there was only 1.2 months of supply.  Still supply is a long way from being balanced at six months, which is why prices have continued to rise.  Both the median sales price ($381,425) and the average sales price ($553,333) rose 7.4 percent and 26.2 percent year-over-year respectively, while the average list price increased 2.7 percent to $465,543. This brought the original list price to sales price ratio to 96.3 percent, which is down from 99.5 percent in October 2021.  Days on market, though still fast, increased to 30 days in October 2022 from 17 days this time last year.

Lincoln County home sales continued to fall in October, down 32 percent year-over-year with 121 homes sold during the month. Pending contract activity was also down 35.7 percent as 99 homes went under contract compared to 154 that were under contract in October 2021. New listing activity declined 20.7 percent year-over-year, as sellers listed 119 homes for sale compared to 150 newly listed during the same period in 2021. Inventory increased 17.7 percent leaving 233 homes for sale compared to 198 homes for sale at report time in October 2021. This has also helped months of supply to rise from 1.2 months last October to 1.8 months in October 2022. Prices were mixed, and surprisingly remained unchanged. The median sales price ($399,495) rose 1 percent while the average sales price ($439,438) declined

0.4 percent year-over-year.  This brought the original list price to sales price metric to 96.1 percent, which is down from the 99.4 percent of asking price, that sellers received October 2021. Days on market until sale, showed homes averaged 35 days on market until sale.  This means homes are still selling quickly however, compared to October 2021, when homes were averaging 25 days on market until sale, the increase in DOM shows the pace of sales has started to slow.

Mecklenburg County home sales declined 30.8 percent year-over-year as 1,348 homes sold versus 1,947 in October 2021. Pending contracts had a significant decline of 41.1 percent year-over-year, showing buyers pulling back due to rising rates and lack of inventory no doubt. This means that year-over-year sales over the next few months will continued to decline. New listings also declined 28.9 percent year-over-year as 1,530 new listings entered the market compared to 2,153 this time last year. Inventory has increased 37 percent year-over-year leaving 2,632 homes for sale or 1.6 months of supply. This time last year Mecklenburg County had just one month of supply. Low supply continues to pressure prices which rose during the month.  Both the median sales price ($425,000) and the average sales price ($520,100) rose 17.3 percent and 19.6 percent year-over-year respectively, while the average list price rose 17.8 percent to $535,113.  This brought the original list price to sales price ratio down 4 percent to 97.2 percent this past October, versus 101.3 percent in October 2021. Days on market are started to increase a bit, rising 62.5 percent to 26 days on market from 16 days on market this time last year.

Rowan County home sales declined 21.9 percent year-over-year as 150 homes sold versus 192 homes sold in October 2021. Pending sales continued to fall, down 28.1 percent year-over-year as 133 homes sold versus 185 that sold in October 2021. New listings declined 21.6 percent year-over-year as sellers listed 167 homes for sale versus 213 that were newly listed in October 2021. Inventory rose 41.2 percent year-over-year to 370 homes for sale or two months of supply compared to 1.4 months of supply this time last year.  Prices continued to rise.  Both the median sales price ($250,000) and the average sales price ($270,134) rose 11.1 percent and 7.6 percent year-over-year respectively while the average list price rose 29.6 percent of $335,669. This brought the original list price to sales price ratio to 94.6 percent which is down from 98.5 percent this time last year. Days on market increased in October, showing homes on market longer, as the market continues to slow.  DOM rose 52.6 percent year-over-year to 29 days on market versus 19 days on market in October 2021.

Stanly County home sales declined 15 percent year-over-year as 85 homes sold versus 100 in October 2021. Pending contracts fell 34.6 percent as buyers drove 70 homes under contract compared to 107 that were under contract this time last year. New listings also declined by 15.9 per cent year-over-year as sellers brought 95 homes to the market last month, versus 113 newly listed in October 2021. Inventory rose 116.8 percent year-over-year to 206 homes for sale compared to 95 at report time in October 2021. Months of supply also increased by 100 percent to 2.4 months of supply.  Still prices are rising, largely due to still low inventory. Both the median sales price ($305,855) and the average sales price ($346,044) increased 22.3 percent and 28.7 percent year-over-year respectively, while the average list price increased 53.5 percent to $422,840. This brought the original list price to sales price measure down to 96.4 percent from 98.6 percent this time last year. Days on market, though fast, increased from 15 days last October to 27 days in October 2022.

Union County home sales dropped 24.9 percent year-over-year as 320 homes sold in October compared to 426 that sold during the same period last year. Contract activity continues to decline, falling 25.6 percent year-over-year as 300homes went under contract compared to 403 in October 2021. New listing activity fell 19.2 percent as sellers listed 361 homes for sale compared to 447 newly listed in the previous year. Inventory has increased by 48.8 percent year-over-year to 610 homes on market at report time, which is about 200 more than last October. Months of supply also increased from one month to 1.7 months this past October 2022.  Still due to tight inventory, prices continued to rise. Both the median sales price ($446,110) and the average sales price ($595,722) rose 16.6 percent and 32.3 percent year-over-year respectively, while the average list price increased 29.1 percent to $602,986. This brought the original list price to sales price measure down 3.9 percent to 97.2 percent in October compared to 101.1 percent in October 2021. Days on market increased in October and showed homes averaging 25 days this past October, compared to 15 days in October 2021.

Lancaster County S.C. home sales declined 11.2 percent in October, as 150 homes sold compared to 169 that sold during the same period last year. Pending contracts show buyers wrote contracts on 160 homes, which is down 16.7 percent year-over-year from 1692 homes in October 2021. New listings were also down, falling 20.1 percent year-over-year as sellers listed 167 homes for sale compared to 209 listed in October 2021. Inventory rose 37.78 percent leaving 288 homes for sale at report time or 1.7 months of supply. This time last year Lancaster had 209 homes for sale or 1.2 months of supply. Tight supply continues to pressure prices which rose. Both the median sales price ($435,000) and the average sales price ($469,236) rose 9.8 percent and 11.7 percent year-over-year respectively, while the average list price increased 22.6 percent to $495,002. This brought the original list price to sales price measure down 2.8 percent to 97.1 percent from 99.9 percent last October. Days on market are showing homes on market a bit longer, averaging 34 days in October compared to 18 days in October 2022.

York County home sales declined 25.7 percent year-over-year in October as 365 homes sold versus 491 that sold this time last year. Pending contract activity continued to decline, falling 33.1 percent year-over-year as 354 homes went under contract compared to 529 in October 2021. New listings were also down 25.5 percent year-over-year as sellers listed 417 homes for sale compared to 560 newly listed home in October 2021. Inventory has increased largely due to falling demand.  Inventory rose 36.6 percent year-over-year to 675 homes for sale at report time of 1.6 months of supply. This time last year there was only one month of supply and 494 homes for sale at report time.  Prices continue to rise due to low inventory in York.  Both the median sales price ($365,000) and the average sales price ($425,338) rose 10.4 percent and 14.6 percent year-over-year respectively, while the average list price increased 6.4 percent to $431,212. This brought the original list price to sales price metric down to 96.4 percent compared to 100.9 percent in October 2021. Days on market also increased, but show homes still selling quickly, averaging 28 days on market in October compared to 16 days on market this time last year.

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