Charlotte Region real estate market in August 2021 saw home sales increase 3.5% year-over-year and home prices increase 12.2% on average. Lack of inventory is limiting sales momentum with demand for homes outpacing supply of homes. Year-over-year, days on market dropped significantly in August 2021, as did the months supply of homes and overall inventory. All this kept the Charlotte region a home seller’s market.
Tega Cay, South Carolina remained a home seller’s market in August 2021. Tega Cay’s housing market experienced much lower inventory levels and days on market in the month of August, along with higher average and median home sale prices. Buyer demand for Tega Cay homes continued to outstrip supply of homes with new listings down. Buyer demand and lack of supply of homes show no signs of easing up.
Fort Mill’s housing market (29715 and 29708 zip codes) unquestionably remained a home seller’s market in August 2021. Lower inventory and months supply of housing, fewer days on market, higher sale prices, higher list to sale price ratios all characterized the Fort Mill seller’s market in August. Inventory remains razor-thin and buyer demand has not abated.
Indian Land, South Carolina housing market unquestionably remained a seller’s market in August 2021. Home prices increased substantially, homes sold quickly with average days on market significantly lower. The months supply of homes was critically low at 0.9 months. Inventory dropped 47.8% year-over-year. All this put downward pressure on closed and pending sales in August 2021.
Indian Trail remained a home seller’s market in August 2021. Year-over-year, home prices increased, while days on market decreased. Housing inventory was razor-thin with less than a one month’s supply of homes, despite an increase in new listings. Indian Trail homes sold as fast as they came on the market.
Matthews (28105 zip code) housing market remained a home seller’s market in August 2021, evidenced by extremely low inventory and just 7 days on market. Matthews homes are selling as quickly as they come on the market. Lack of inventory was a reason average and median home prices increased significantly in August 2021.
The Waxhaw area housing market remained a seller’s market in August 2021 with continued significant decreases in inventory. With 57.6% less inventory year-over-year and continued buyer demand, days on market were down, while home prices increased. Both closed and pending sales were down due to the lack of inventory and new listings.
Ballantyne remained a home seller’s market in August 2021. Months supply of inventory was down 53.8% compared with August 2020 with just a 0.6 months supply of homes. Housing inventory was down 51.4% year-over-year, resulting in fewer days on market, higher home prices with sellers receiving a median 103.2% of list price in sale price.
Current trends in the housing market will keep Fall 2021 a great time to buy or sell a home in the Charlotte region. And just in time for Fall 2021, our Home Buyer and Home Seller Guides have arrived.
The process of buying a home can be overwhelming in the current competitive housing market. And it’s difficult to know when is the best time to sell, or how to get the most money for your house. But you don’t need to go through the buying or selling process alone and our Home Buyer and Home Seller Guides for Fall 2021 are a great way to start the process of buying or selling.
Charlotte region luxury home sales improved in August 2021 with a significant increase in closed sales. Inventory and the months supply of single family luxury homes were significantly down, as were average and median days on market. The luxury home market in Charlotte region remains a seller’s market compared with one year ago when it was more of a balanced market based on the months supply of luxury homes.