Tega Cay, South Carolina remained a home seller’s market in March 2021. Tega Cay’s housing market experienced much lower inventory levels and days on market in the month of March, along with higher average home sale prices. Buyer demand for Tega Cay homes continued to outstrip supply of homes for sale with closed and pending sales up.
Indian Land, South Carolina housing market unquestionably remained a seller’s market in March 2021. Home prices increased, homes sold quickly with both average and median days on market significantly lower. The months supply of homes was critically low at 0.6 months and housing inventory also dropped by almost 74% year-over-year.
Indian Trail has fully recovered from the negative affects of the corona virus we saw early in 2020. Year-over-year, home prices increased, while days on market decreased 36 days. Housing inventory is razor-thin with less than a one month’s supply of homes. New listings were also down in March year-over-year.
Matthews (28105 zip code) housing market remained a home seller’s market in March 2021, evidenced by extremely low inventory and with just a one-half month’s supply of inventory. Significant decreases in days on market and fewer new listings resulted in much higher home prices. Pent-up buyer demand remains greater than the supply of homes in Matthews.
The Waxhaw area housing market remained a seller’s market in March 2021 with continued significant decreases in inventory. With 70.6% less inventory year-over-year and fewer new listings, average days on market decreased and home prices sky-rocketed. All of this kept the Waxhaw area a home sellers’ market.
Ballantyne remained a seller’s market in March 2021. Months supply of inventory was down (64.3%) compared with March 2020 to 0.5 months supply. Housing inventory was down 66.5% year-over-year, resulting in lower days on market, higher home prices with sellers receiving a median 101.2% of asking price in final sale price.
One year ago in March many feared that the residential housing market would be crushed under the pressure of an unprecedented pandemic. Instead, the housing market experienced one of its best years ever. Home sales and prices were both up substantially over the year before. 2020 was so strong that many now fear the market’s exuberance mirrors that of the last housing boom and, as a result, we’re now headed for another crash. However, there are many reasons this real estate market is nothing like the one we experienced in 2008 as we went into the Great Recession.
Charlotte Region real estate market in February 2021 saw a continued strengthening in the greater Charlotte region housing market, despite the ongoing pandemic. Home prices continued to increase. Days on market, inventory, and months supply of homes were substantially lower than in February 2020. With so little inventory, one could almost say that it’s on “life support” these days. Mecklenburg, Union, Lancaster and York Counties in the Charlotte region essentially mirrored the overall housing market activity.