Fort Mill’s housing market (29715 and 29708 zip codes) unquestionably remained a home seller’s market in May 2021, characterized by much lower inventory, razor-thin months supply of housing, fewer days on market, higher sale prices, higher list to sale price ratios. Whatever impact the pandemic made on the Fort Mill housing market one year ago, it’s completely dissipated.
Charlotte Region real estate market in May 2021 saw continued strengthening. Charlotte’s housing market has essentially bounced back after the pandemic-related lockdowns in April and May 2020, which put real estate activity on pause. Home prices continued to increase. Days on market, inventory, and months supply of homes were substantially lower than in May 2020. With so little inventory, one could say that it’s on “life support” these days. Mecklenburg, Union, Lancaster, York and Gaston Counties in the Charlotte region essentially mirrored the overall housing market activity.
Indian Land, South Carolina housing market unquestionably remained a seller’s market in May 2021. Home prices increased, homes sold quickly with average days on market significantly lower. The months supply of homes was critically low at 0.7 months, new listings were down, and housing inventory also dropped by over 67% year-over-year. All this put downward pressure on pending sales in May 2021.
Indian Trail has fully recovered from the negative affects of the corona virus we saw in spring 2020. Year-over-year, home prices and sales increased, while days on market decreased. Housing inventory is razor-thin with less than a one month’s supply of homes. Indian Trail homes are selling as fast as they are coming on the market.
Matthews (28105 zip code) housing market remained a home seller’s market in May 2021, evidenced by extremely low inventory and with just barely over a one-half month’s supply of inventory and extremely low days on market. Matthews homes are selling as quickly as they come on the market. Pending sales were down in May year-over-year due to lack of inventory and new listings.
The Waxhaw area housing market remained a seller’s market in May 2021 with continued significant decreases in inventory. With 74.4% less inventory year-over-year and huge buyer demand, days on market were down, home prices were up. But closed and pending sales were lackluster due to the lack of inventory and new listings.
Ballantyne remained a seller’s market in May 2021. Months supply of inventory was down 60% compared with May 2020 with just a 0.6 months supply. Housing inventory was down 51.8% year-over-year, resulting in lower days on market, higher home prices with sellers receiving a median 102.8% of asking price in final sale price. The Ballantyne housing market has fully recovered from the effects of the pandemic just one year ago.
Charlotte region luxury home sales maintained strong momentum in May 2021. Inventory and the months supply of single family luxury homes were significantly down, as were average and median days on market. Pending and closed sales were up significantly year-over-year. The luxury home market in Charlotte region is definitely a seller’s market compared with one year ago when it was more of a balanced market.
Tega Cay, South Carolina remained a home seller’s market in April 2021. Tega Cay’s housing market experienced much lower inventory levels and days on market in the month of April, along with higher home sale prices. Buyer demand for Tega Cay homes continued to outstrip supply of homes for sale with closed and pending sales up. Buyer demand and lower supply of homes show no signs of easing up.