July 2, 2025

Contact: Kim Walker, 704-940-3149

CHARLOTTE, N.C. — Residential real estate activity across the Catawba Valley Region in May reveals a market adapting to increased inventory levels and more moderate pricing conditions. 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 region saw inventory rise notably to 1,199 homes, a significant 34.3 percent increase from last year, resulting in a 3.5 months of supply. Inventory was up slightly 7.7 percent this month when compared to April 2025. Currently, 14 percent of the homes listed are 3 bedrooms or less, 54 percent are 4 bedrooms, and 32 percent are 5 bedrooms or more. New construction continues to be vital in filling gaps in the market, comprising 27 percent of current inventory and adding essential diversity in available housing options. 

New listings increased more substantially this month, rising 12.5 percent year-over-year to 574 properties, indicating sellers are becoming more active in response to market conditions. This was a 2.9 percent increase over April 2025. This month, new construction contributed 88 single-family homes and 13 townhomes. New listings for the Catawba Valley Region has consistently increased year-over-year since November 2023. 

Market pricing began to cool in May, with the median sales price declining 3.7 percent from last year and also from April 2025, settling at $289,000. Similarly, the average sales price decreased, dropping 11.3 percent year-over-year and 4.8 percent month-over-month to $350,103. While it's too soon to determine if this marks a sustained shift toward greater affordability following prolonged price increases, the current easing provides a welcome relief for buyers active in today's market. 

“The spring market may be winding down, but that doesn’t mean it's too late to make a move—whether buying or selling,” said Dawn Kilby, Realtor®/broker with Realty Executives of Hickory and 2025 president of the Catawba Valley Association of Realtors®. “Mortgage rates have been remarkably steady, and with prices easing slightly, now could be an optimal time to enter the market.” 

The pace of home sales also experienced a shift. Homes spent an average of 53 days on the market, reflecting a 32.5 percent increase from May 2024. The lengthening sales cycle points toward buyers taking more time to evaluate the broader selection of available homes, particularly as the region adjusts to more balanced market conditions. 

Pending sales increased 9.8 percent year-over-year in May, reaching 382 contracts, a slight decline from April's total of 410. Closed sales decreased 7.1 percent from last year to 382 transactions, yet this marked a notable month-over-month improvement of 16.8 percent. Despite these monthly shifts, year-to-date figures continue to demonstrate steady regional demand, underscoring persistent buyer interest across the region. 

Although sellers received slightly less than last year, averaging 94.9 percent of their original asking price, the market remains resilient. This slight drop reflects more negotiating power for buyers, a direct result of increased inventory and moderated pricing trends. Average list price for May 2025 increase slightly by 2.2 percent year-over-year and was up 4.7 percent compared to April. 

Buyer activity, as indicated by showing traffic, remained active in May with the region averaging 3.6 showings per listing, totaling approximately 5,222 showings—a slight increase of 0.8 percent from May 2024. Newton and Hickory again had the strongest engagement, averaging 4.5 and 4.4 showings per listing, respectively. Price segments attracting the most buyer activity included homes priced from $199,000 to $308,999 in Catawba and Caldwell counties, while Burke and Alexander counties continued to experience consistent buyer interest in properties priced $309,000 and above. 

Kilby added, "With 83 percent of listings in Canopy MLS eligible for down payment assistance, Realtors® continue to add Real Value for our clients by helping them navigate resources that can significantly enhance affordability. Recognition like Hickory being named the 25th Best Place to Live and 40th Best Place to Retire by U.S. News & World Report highlights our region's appeal, underscoring why now is an excellent opportunity for buyers and sellers to engage in the market." 

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 saw increased activity with new listings up 3.0 percent to 34 homes. Closed sales rose 12.0 percent, totaling 28 transactions, although pending sales slightly decreased by 3.6 percent. Prices significantly declined, with the median sales price falling 31.0 percent to $245,000 and the average sales price decreasing 28.9 percent to $301,825. Sellers secured an average of 95.2 percent of their list price, slightly down from last year. Homes took longer to sell, averaging 63 days on market—a 40.0 percent increase. Inventory expanded 25.4 percent, resulting in a 3.5-month supply, while average list prices slightly declined to $388,562.

Burke County experienced mixed market conditions. New listings declined 14.8 percent to 98 homes, but pending sales rose marginally by 1.4 percent to 73 contracts. Closed sales dropped 9.8 percent to 74. Pricing saw robust gains, with the median sales price increasing 21.0 percent to $290,500 and the average price up 11.3 percent to $320,103. Homes lingered significantly longer—67 days on average, marking a 116.1 percent increase. Sellers received 93.3 percent of the original list price, down notably from last year. Inventory grew by 14.1 percent to 235 homes, with the supply rising to 3.6 months. Average list prices slightly increased to $448,678.

Caldwell County reported positive market activity as new listings surged 28.7 percent to 121 homes, and pending sales climbed 7.4 percent to 73 contracts. Closed sales increased modestly by 1.4 percent. However, pricing softened; the median sales price fell 8.5 percent to $252,000 and the average sales price dipped 5.8 percent to $306,536. Homes took slightly longer to sell, averaging 41 days—an increase of 5.1 percent. Sellers achieved 94.6 percent of their original list price, marginally down from last year. Inventory significantly expanded by 55.8 percent, bringing the months' supply to 3.5 months, while average list prices rose 8.3 percent to $414,169.

Catawba County showed a slowdown in market activity, with closed sales declining 10.8 percent to 207 homes sold. New listings, however, increased 19.8 percent to 321, and pending sales rose 16.1 percent. Prices saw minimal changes, with the median sales price dipping slightly by 0.3 percent to $322,500 and the average sales price dropping by 15.0 percent to $382,882. Homes spent an average of 51 days on the market—up 21.4 percent. Sellers received 95.9 percent of their list price, essentially unchanged from last year. Inventory expanded substantially by 37.9 percent to 670 homes, elevating the months' supply to 3.4 months, while the average list price rose slightly to $457,626.

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.