April 22, 2025

Contact: Kim Walker, 704-940-3149

CHARLOTTE, N.C. — The real estate market in the Catawba Valley Region remained active in March 2025, with activity mostly on par with last year’s spring market, with inventory and supply continuing to expand and showing activity signaling steady buyer interest.  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.

The four-county region's inventory experienced substantial growth, rising 33.5 percent year-over-year to 1,024 homes. This increase brought the months' supply of inventory up to 3.0 months, a notable 25.0 percent improvement compared to last March. As inventory expands, the market is trending toward more balanced conditions, providing buyers with greater options than in previous years. However, starter homes—typically those with three or fewer bedrooms—remain limited, as 87 percent of current listings feature four or more bedrooms. New construction continues to be crucial in addressing housing availability, contributing approximately 31 percent of the total inventory.

Despite rising supply, new listings were essentially unchanged year-over-year at 489 homes. Sellers are responding to strong market signals, setting the average list price at $439,579, a 6.5 percent annual increase and a 2.0 percent month-over-month increase. This reflects continued confidence and positive expectations for property values. Additionally, 100 newly built homes entered the market during March.

“Though economic uncertainty in March may have had some impact, the region’s spring market is off to a solid start, presenting excellent opportunities for both buyers and sellers. With more homes available and prices steadily appreciating, strategic timing and smart pricing decisions will be essential to successful transactions in this evolving spring market.”, said Dawn Kilby, a Realtor®/broker with Realty Executives of Hickory and 2025 president of the Catawba Valley Association of Realtors®.

The average number of showings per listing, which indicates buyer interest, reached 3.8 showings per listing in March, with Catawba (4.2) and Caldwell (3.9) Counties leading activity, followed closely by Burke (3.7) and Alexander (3.6) counties. Newton and Hickory experienced the highest rates, with 5.9 and 4.6 showings per listing, respectively. Burk and Alexander counties witnessed the largest buyer interest in the $309,000 or above price range during March. Catawba had the most buyer interest in the $199,000 - 308,999 range, while Caldwell saw the most in the $139,000 - 198,999 range.

Buyer activity remained steady yet measured, with pending sales dipping 3.5 percent year-over-year to 385 contracts and up 11 percent month-over-month. Closed sales saw a modest decline of 1.2 percent from last year, totaling 319 transactions which is up 4.2 percent from February. Nonetheless, year-to-date closed sales rose 9.6 percent, underscoring the persistent appeal of the Catawba Valley Region. New construction accounted for 25 percent of closed sales in March.

Kilby continued, “Given the current dynamics of rising inventory and continued price growth, working with a knowledgeable Realtor® is more valuable than ever. Expert guidance ensures buyers and sellers are well-positioned to capitalize on the competitive conditions we're experiencing this year. Buyers should ask their agent about Down Payment Resource (DPR), a tool that matches homes for sale in the MLS with down payment and or closing costs assistance, available on more than 83 percent of residential listings in Canopy MLS, helping make homeownership more attainable.”

Home values maintained their upward momentum, with the median sales price rising 2.8 percent annually to $292,000 which is $2,000 more than in February. Similarly, the average sales price jumped 10.5 percent to $367,826, driven by strong demand. Although the affordability index slightly decreased by 1.1 percent, indicating continued challenges for some buyers amidst persistently high mortgage rates, overall market conditions remain favorable for sellers.

Properties took an average of 55 days on the market to sell, a 25.0 percent increase from the previous year, suggesting buyers more thoroughly evaluating their options as inventory levels expand. Despite longer selling times, sellers maintained leverage, receiving 94.8 percent of their original asking price, albeit down slightly by 1.6 percent from last year and nearly flat from February 2025. 

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 steady sales activity in March. New listings increased 10.7 percent year-over-year to 31 homes, while pending sales dipped slightly by 7.1 percent to 26 contracts. Closed sales remained flat at 18 transactions. Prices showed mixed results; the median sales price decreased 11.7 percent to $259,500, whereas the average sales price rose 8.5 percent to $370,683. Sellers continued receiving strong offers, averaging 99.4 percent of their original list price, a modest decline of 2.1 percent from last year. Homes stayed on the market for an average of 32 days, up slightly by 6.7 percent year-over-year. Inventory grew significantly, increasing 28.8 percent to 67 homes, and months' supply of inventory jumped to 3.1 months, reflecting a 34.8 percent rise. Average list prices also climbed notably, up 17.0 percent to $472,277.

Burke County's market saw increased activity in pending transactions, rising 8.7 percent to 87 contracts. However, closed sales decreased by 9.2 percent, with 59 properties sold. New listings edged upward by 3.7 percent, totaling 112 homes. Both median and average prices saw notable gains, climbing 13.7 percent to $307,000 and 16.7 percent to $324,465, respectively. Sellers received an average of 93.6 percent of the original listing price, down slightly by 1.3 percent from last year. Inventory expanded considerably, rising 27.6 percent to 222 homes, and the months' supply increased by 22.2 percent to 3.3 months. Properties took longer to sell, averaging 75 days on market—a substantial increase of 97.4 percent. Average list prices also increased, rising 17.9 percent to $455,390.

Caldwell County saw mixed market trends in March. New listings rose slightly by 3.8 percent, reaching 83 properties, but pending sales dropped significantly by 20.0 percent to 64 contracts. Closed sales declined 20.3 percent, with 55 homes sold. Despite fewer transactions, pricing improved notably. Median sales prices increased 10.0 percent to $275,000, while average sales prices surged 24.9 percent to $377,976. Sellers averaged 95.5 percent of their original list price, a drop of 2.1 percent from the prior year. Inventory expanded substantially, increasing by 45.0 percent to 174 homes, pushing the months' supply significantly higher by 52.6 percent, totaling 2.9 months. Homes spent more time on market, averaging 54 days—up 35.0 percent. Average list prices rose 9.4 percent to $412,830.

Catawba County displayed active market conditions, with closed sales rising 9.4 percent to 187 homes sold. However, new listings saw a slight reduction of 3.7 percent to 263 homes, and pending sales also declined modestly by 1.4 percent to 208 contracts. Median sales prices softened by 5.1 percent to $299,000, while average sales prices increased 3.6 percent to $378,246. Sellers received slightly less favorable offers at 94.6 percent of their original listing price, reflecting a 1.3 percent decline. Inventory increased significantly by 33.3 percent to 561 homes, with months' supply rising to 2.9 months, a 20.8 percent increase. Homes stayed on the market slightly longer at 51 days, representing a 6.3 percent rise year-over-year. The average list price showed minimal change, rising slightly by 0.7 percent to $437,425.

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.