May 31, 2024

Contact: Kim Walker, 704-940-3149

Residential Sales Trends in York, Lancaster, Chester and  Chesterfield Counties

CHARLOTTE, N.C. — Canopy MLS reports on residential sales trends in the contiguous counties to Mecklenburg County, which includes York, Lancaster, Chester, and Chesterfield, South Carolina. Data included in this report is for single-family, condo, and townhome property types only, for the geographies mentioned above.

Closed sales in April inched higher than the previous year, rising 0.6 percent year-over-year, as 502 homes sold compared to 499 homes sold in April 2023. Sales compared to March 2024, however, were down 3.5 percent as higher interest rates and rising sales prices continue to hold back prospective buyers.

Contract activity or pending sales rose 5.4 percent year-over-year as buyers drove 629 properties into under-contract status, 32 more properties than last April.  Compared to March 2024, contract activity is up 11.7 percent. April’s Showing reports indicated foot traffic was strongest in Fort Mill, where listings averaged 7.9 showings (or potential buyers) per listing, followed by Rock Hill, where listings there averaged 5.9 showings per listing. Overall buyer interest was strongest for properties in York County, where listings averaged 6.2 showings per listing, followed by Lancaster, where listings averaged 5.9 showings per listing this past April.

“April’s sales activity continues to show buyers’ pent-up demand for homes in our market and we can see this through the strong showing and contract activity each month.”

said Colleen Coesens, a Canopy MLS Board of Director representing South Carolina and a Realtor®/broker with EXP Realty, Rock Hill. “Buyers however are showing resilience, realizing that homeownership still offers an opportunity to accumulate assets and build wealth over time.”

New listings in April, pushed higher as sellers listed 809 homes for sale, an increase of 29.2 percent, and 183 more new listings than in April 2023. Month-over-month new listings increased substantially, rising 30.2 percent over March, in a strong show of seller confidence and a boost to inventory and supply. At report time, inventory rose 35.5 percent year-over-year to 943 homes for sale and 1.9 months of supply.  Supply is up 58.3 percent compared to April 2023, when there was only 1.2 months of supply.

A closer look at inventory by price range revealed increases in inventory across the board in all price ranges, even in homes priced from $150,000 to $250,000.  Homes priced from $350,000 to $500,000 however, showed a substantial rise in homes on market of 45.5 percent, followed by homes priced from $250,000 to $350,000, which showed a 44.3 percent rise in the number of homes on market.

Still, with both inventory and supply tight for the past two years amidst rising demand during the spring selling season, prices rose in April. Both the median sales price ($371,000) and the average sales price ($433,118) rose 4.5 percent and 8.2 percent year-over-year respectively. The percent of list price received measure dipped less than a percent (-0.1%) to 98.9 percent, as sellers still receive nearly all of asking prices for their homes, while days on market showed homes averaged 38 days on market until sale, compared to 37 days on market in April 2022.

Coesens continues, “Given the tight market, using a Realtor® is crucial. York County is still a very strong sellers’ market, but sellers must ensure the home is priced well to attract buyers, who tend to be more measured in this slower market. If recent predictions regarding rates possibly falling in September hold true, the increases in new listings and boost to supply will be helpful for buyers later on this year. A buyer’s agent’s expertise in understanding market trends, pricing, and negotiation is essential to a successful closing.”

A closer look at the four South Carolina counties

York County closed sales rose in April by 7 percent year-over-year as 335 homes sold compared to 313 that were sold during the same period last year. Around the county sales were up compared to last April in Fort Mill (8.1%), Lake Wylie (22.9%), Tega Cay (83.3%), Town of York (23.8%), and unchanged in the Town of Clover. Sales in Rock Hill, however, were down 4.1 percent compared to last year.

Contract activity also increased in York, rising 2.9 percent compared to last, year as 431 homes went under contract during the month compared to 419 in April 2023.  Contract activity was up year-over-year in Fort Mill (21.7%), Town of York (13.1%), and Town of Clover (9.8%), but decreased in Lake Wylie (-14.7%), Rock Hill (-3.4%), and Tega Cay (-3.6%). 

New listings increased substantially in York County, rising 30.3 percent, as sellers listed 529 homes for sale compared to 406 new listings the previous year, boosting inventory 41.5 percent to 583 homes for sale or 1.7 months of supply. Supply is up 54.5 percent compared to April 2023, when there was a little over one month of supply.

Both the median sales price ($392,900) and the average sales price ($454,843) rose 7.9 percent and 9.4 percent year-over-year respectively, while the average list price increased 8.8 percent to $515,791. This brought the original list price to sales price measure to 97.2 percent, a strong incentive for sellers to continue listing, while days on market showed homes averaged 35 days on market until sale, compared to 34 days on market in April 2023.

Lancaster County homes sales declined again in April, falling 22. 3 percent year-over-year as 115 homes sold compared to 148 that sold in April 2023.  Pending contract activity jumped 24.4 percent as buyers drove 168 homes into under-contract status during the month, compared to 135 a year ago.  New listings also increased in April, rising 25.9 percent to 199 new listings offered by sellers, compared to 158 new listings in April 2023. The rise in new listings helped boost both inventory and supply which rose by 12 percent and 30.8 percent year-over-year respectively, bringing the total number of homes for sale at report time to 224 and 1.7 months of supply.  In April 2023 supply in Lancaster was only 1.3 months.  Prices were mixed, as the median sales price dipped 2.7 percent to $382,000 and the average sales price increased by 4.4 percent to $427,977. The average list price rose 2.3 percent to $487,510 bringing the original list price to sales price measure to 97.1 percent, while days on market showed homes averaged 38 days on market until sale compared to 37 days on market in April 2022.

Chester County sales declined 6.3 percent year-over-year as 30 homes sold compared to 32 that sold a year ago in April. However, Chester is aggressively expanding new construction homes along with commercial movement into the area, an indicator of growth to come. Contract activity was unchanged with 35 homes going under contract during the month. New listings jumped by 65 percent as sellers listed 66 homes for sale compared to 40 a year ago.  At report time there were 88 homes for sale and 3.1 months of supply, up from 58 homes in inventory a year ago and 2.1 months of supply. Price rose modestly. The median sales price rose two percent to $242,450 while the average sales price increased 9.9 percent to $254,742. The average list price increased 23.3 percent to $292,811, bringing the original list price to sales price measure up to 98.2 percent.  Days on market showed time homes were on market decreasing by 39.6 percent to 32 days on market compared to 53 days on market in April 2023.  
(Due to small sample sizes, percentage of change may seem extreme)

Chesterfield County had ten closed sales in April compared to six sales a year ago, while contract activity fell slightly as seven homes went under contract compared to eight a year ago. New listing activity was also down, with sellers listing only 14 homes for sale compared to 22 new listings in April 2023. Inventory showed 35 homes for sale and 4.3 months of supply at the current sales pace. Both price indices fell in April.  The median sales price declined 3.2 percent to $253,950 while the average sales price dipped `10.9 percent to $231,470. The average list price rose 55 percent to $406,850, bringing the original list price to sales price measure to 93.4 percent. Days on market increased as the pace of sales slowed, and showed homes averaging 155 days on market until sale compared to 92 days on market in April 2023. Due to small sample sizes, percentage of change may seem extreme)

Canopy Realtor^® Association provides monthly reports on residential real estate market activity for the Charlotte region based on data from Canopy MLS. This report is based on the four South Carolina counties that are also included in the Charlotte region (Chester, Chesterfield, Lancaster, and York Counties).  For more details, visit the monthly report this release is based on, and search for “Piedmont Regional Association of Realtors®". 

See also Charlotte region reports and individual county reports for York, Lancaster, Chester and Chesterfield.  For more residential-housing market statistics, visit www.CarolinaHome.com and click on “Market Data.” For an interview with Canopy MLS South Carolina representative, Colleen Coesens, Realtor®/Broker-in-charge with EXP Realty, Fort Mill, 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.