July 2021 - While Sellers Listed More Homes, Sales Lost Momentum in July

August 16, 2021

Contact: Kim Walker, 704-940-3149

CHARLOTTE, N.C. – Home sales across the Charlotte region, lost momentum in July, falling 10.5 percent below sales a year ago, with 5,189 homes sold, compared to 5,796 homes sold in July 2020. July 2020 was the peak month of sales for the Charlotte region last year and the first month of positive year-over-year sales after a series of pandemic-induced lockdowns that started in mid-March and didn’t ease until the end of May 2020, effectively sidelined the spring market, rendering depressed year-over-year sales in April, May and June 2020. 

At report time, Canopy MLS July 2020 release of data showed 5,469 homes were sold. Because data by Canopy MLS is constantly updated, revisions to last July’s report now includes 327 additional closed sales that should have been included in July 2020 sales figures. The revised and updated July 2020 closed sales figure of 5,796 in the July 2021 monthly reports, reflects the sheer volume of housing transactions that occurred after three months of negative year-over-year sales, due the pandemic and the inability of Realtors® to conduct business during mandated lockdowns.

Month-over-month comparisons show July 2021 closed sales down 5.7 percent, compared to June 2021. Sales reflected in Canopy MLS data includes housing types single-family and condo/townhome data only.

2021 Canopy Realtor® Association/Canopy MLS President David Kennedy said, “Even though sales slowed this past July, it’s still too early to say whether Charlotte’s housing market is experiencing a shift. One month of sales activity doesn’t necessarily show a trend. The pandemic and resulting lockdowns during the crucial spring market last year, brought sales transactions to a near stand-still until the end of May and pushed buyer and seller activity into summer, resulting in July being a peak month of sales activity last year.”

Pending sales were positive in July, rising 1 percent year-over-year, with activity roughly on par with pending sales activity this time last year. The metric that gauge’s buyer demand, showed 5,522 homes went under contract during the month of July 2021, compared to 5,466 in July 2020. Contract activity compared to the previous month (June 2021) was down 2.3 percent. Year-to-date pending contract activity shows buyer demand is still healthy, rising 10.6 percent over year-to-date activity during the first seven months of 2020.

New listing activity increased 5.2 percent year-over-year as sellers listed 6,282 homes for sale during the month of July, marking the fourth month of rising seller confidence and improvement in listing activity.  Compared to June 2021, new listing activity is up 2.2 percent. This continued increase in activity should help buyers with more choice in the short term, however it does very little to improve the overall inventory situation, which is still challenged.

Inventory fell 42.2 percent year-over-year in July, leaving 4,073 homes for sale at report time, or 0.8 months of supply (approximately 24 days of supply). July’s inventory figure represents a slight improvement over last month, when supply dipped to 0.7 months or approximately 21 days in June.

“Though inventory continues to be a challenge, the small, steady improvement we’re seeing in new listing activity will be of some help to buyers that are still looking for homes, while low mortgage rates can help off-set costs,” Kennedy said. “The complexities of this type of housing market coupled with a narrow window of opportunity, really means that buyers and sellers benefit most when using a Realtor®.”

Prices continue to rise in relation to inventory with all price indices seeing increases.  Both the median sales price ($331,000) and the average sales price ($400,026) rose 16.1 percent each, compared to last year, while the average list price increased 8.6 percent year-over-year to $396,835, bringing the original list price to sales price ratio to 101.8 percent in July 2021.  In the Canopy MLS June 2021 report, we noted that the National Association of Realtors® (NAR) research showed that the median sales price is being skewed upward due to the large amount of upper-end home sales.

This phenomenon continues to play out in local data, which showed that of the 5,189 homes sold in July 2021, only 1,383 homes were in the price range of $250,000 and below, while the remaining 3,806 homes were priced higher than $250,000.


The breakdown of sales by price range is as follows: 172 homes sold in the price range of $120,000 & below; 161 homes sold in the price range of $120,001 to $150,000; 314 homes sold in the price range of $150,001 to $190,000; 736 homes sold in the price range of $190,001 to $250,000; 1,501 homes sold in the price range of $250,001 to $350,000; 1,271 homes sold in the price range of $350,001 to $500,000; 840 homes sold in the price range of $500,001 to $999,999 and 194 homes sold in the $1 million and up range.

Lawrence Yun, NAR’s chief economist notes in the most recent existing-home sales report, “At a broad level, home prices are not in danger of decline due to tight inventory conditions, but I do expect prices to appreciate at a slower pace by the end of the year,” Noting further, “Ideally, the costs for a home would rise roughly in line with income growth, which is likely to happen in 2022 as more listings and new construction become available.”

 July 2021 data showed days on market until sale continued to trend lower, with data showing properties on market an average of 14 days compared to 37 days on market in July 2020.

Canopy Realtor® Association provides monthly reports on residential real estate market activity for the Charlotte Metro region based on data from its subsidiary, Canopy MLS. The Charlotte Metro region, which this report is based on, consists of the following 16 counties: Alexander, Anson, Cabarrus, Catawba, Cleveland, Gaston, Iredell, Lincoln, Mecklenburg, Rowan, Stanly and Union counties in North Carolina; and Chester, Chesterfield, Lancaster and York counties in South Carolina. 

July 2021 Sales Trends Across the Charlotte Region  

Alexander County home sales rose 35.7 percent year-over-year as 38 homes sold in July 2021 versus 28 that sold this time last year. Pending contracts, which gauge buyer demand and predict future sales, fell 11.1 percent year-over-year as 32 homes went under contract versus the 36 that were under contract in July 2020. New listings rose 10.3 percent year-over-year with sellers listing 43 properties for sale compared to 39 listed in July 2020. Inventory woes continue, declining 40 percent year-over-year in July 2021, leaving 30 homes for sale or 0.9 months of supply (approximately 27 days of supply) compared to 2 months of supply this time last year. Tight inventory continued to pressure prices, which rose by double digits.  Both the median sales price ($221,500) and the average sales price ($221,500) rose 31.2 percent and 32.2 percent year-over-year respectively, while the average list price rose 16.2 percent over last year’s list price to $323,200.  This brings the original list price to sales price ratio to 101.4 percent, showing sellers receiving all of asking prices and more during the month. Alexander County continued to see faster days on market, with homes averaging 18 days on market in July 2021.  Canopy MLS data.

Anson County (Due to small sample size, figures and percentages can look extreme.) Sales in Anson County were unchanged in July 2021, while pending sales figures rose 155.6 percent year-over-year as 23 homes went under contract during the month versus nine that were under contract this time last year.  New listings rose 133.3 percent year-over-year as sellers brought 21 homes to market in July 2021 versus nine that were listed in July 2020. Prices were volatile. The median sales price of $73,000 is down 24.7 percent compared to last year’s median sales price of $96,950, while the average sales price of $115,510 rose 12 percent year-over-year compared to last year. The average list price fell 25 percent to $179,062, bring the original list price to sales price ratio to 91.2 percent.  Inventory fell 16.1 percent year-over-year leaving 26 homes for sale versus 31 that were on-market in July 2020 and the county has approximately 1.8 months of supply of homes for sale at the current pace. Homes sold quickly with days on market until sale averaging 14 days in July 2020. Canopy MLS data.

Cabarrus County Sales in July 2021 declined 16.8 percent year-over-year with 391 homes sold compared to 470 that sold in July 2020. Pending contract activity shows demand in the county is still strong and rose 13.2 percent year-over-year as 447 homes went under contract during the month. Sellers continue to react favorably listing 489 homes for sale sin July 2021, an increase of 21.9 percent year-over-year.  Prices rose by double digits, due to very tight inventory, which fell 21.9 percent year-over-year in July, leaving 224 homes for sale or 0.6 months of supply (approximately 18 days of supply). Both the median sales price ($323,000) and the average sales price ($345,542) rose 16.6 percent and 17 percent year-over-year respectively, while the average list price increased 21.9 percent year-over-year to $365,889.  This brought the original list price to sales price ratio to 102.3 percent, showing sellers getting more than asking prices in the county.  Homes are selling at a faster clip, averaging eight days on market until sale in July 2021, versus 30 days on market in July 2020.  Canopy MLS data.

Catawba County home sales in July 2021 were nearly on par with last year’s closed sales activity, falling 1.3 percent year-over-year as 223 homes were sold compared to 226 that sold in Catawba County last July. Pending contract activity shows heavy buyer competition, rising 19.6 percent as 262 properties went under contract during the month.  New listing activity was also steady, as sellers listed 276 homes for sale, an increase of 14 percent year-over-year versus the 242 homes listed in July 2020. Prices increased in relation to inventory, which declined 30.4 percent year-over-year leaving 229 homes or sale or 1.2 months of supply. Both the median sales price ($235,000) and the average sales price ($309,607) rose by 13 percent and 15.6 percent respectively, while the average list price rose 5.3 percent to $332,162 in July 2021. Sellers in Catawba County received 100 percent of asking price as indicated by the original list price to sales price ratio and enjoyed their homes staying on market for less time.  The average time a home was on market was 17 days in July 2021 versus 46 days this time last year. Canopy MLS data.

Cleveland County Sales in Cleveland County rose 20.7 percent year-over-year in July 2021 as 99 homes were sold versus 82 that sold in July 2020. Pending contract activity is unchanged compared to last year with buyers sending 99 homes under contract during the month.  New listing activity showed seller confidence rose 33.3 percent as sellers listed 124 homes for sale versus 93 listed in July 20920. Prices are rising in relation to tight inventory, which fell 7.1 percent year-over-year leaving 105 homes for sale at report time, or approximately 1.1 months of supply.  Both the median sales price ($2000,000) and the average sales price ($225,862) rose 25 percent and 17.5 percent year-over-year respectively, while the average list price rose 23.8 percent year-over-year to $250,451 in July.  This brought the original list price to sales price measure to 99.5 percent in July, showing sellers getting nearly all of asking prices.  Sellers also enjoyed their homes spending less time on market, as days on market averaged 14 days until sale in July 2021. Canopy MLS data.  

Gaston County home sales declined yet again in Gaston County, falling 5.4 percent year-over-year as 371 homes were sold during the month of July 2021 versus 392 that sold this time last year. Pending sales showed buyers still in the market for homes, rising 11.5 percent year-over-year as 418 homes went under contract during the month.  Sellers responded favorably to the market, listing 501 homes for sale, an increase of 16.2 percent over new listing activity in July 2020.  All price indices had increases, due to pressure from tight inventory, which fell30.3 percent year-over-year, leaving 308 homes for sale or 0.9 months of supply (approximately 27 days of supply).  Both the median sales price ($260,000) and the average sales price ($292,112) rose 20.9 percent and 18.3 percent year-over-year respectively, while the average list price increased 15.9 percent compared to last July, to $299,407.  This brought the original list price to sales price ratio to 101.1 percent, showing sellers receiving more than asking price during the month of July 2021. Days on market trended lower, as homes averaged 15 days on market until sale versus 40 days on market this time last year. Canopy MLS data.

Iredell County Home sales in July fell 9.6 percent year-over-year, as 397 homes were sold versus 439 that sold this time last year.  Pending contracts, which typically gauge buyer demand, declined 5.5 percent as buyers drove 379 homes under contract in July compared to 401 that were under contract in July 2020. New listings showed sellers getting into the market, listed some 427 homes for sale, an increase of 15.1 percent over last year’s new listing activity.  However, inventory is still tight, declining 41.4 percent year-over-year, leaving 338 homes for sale or one month of supply at the current sales pace. The inventory situation continues to exacerbate prices which rose during the month.  Both the median sales price ($357,000) and the average sales price ($473,793) rose 14.4 percent and 21.7 percent year-over-year respectively, while the average list price rose just 0.5 percent over last year, to $418,410.  This brought the original list price to sales price ratio to 101.1%, showing sellers receiving more than asking prices in July 2021. The pace of sales is rapid, as evidenced by days on market averaging 17 days in July versus 49 days in July 2020. Canopy MLS data.

Lincoln County closed sales declined 5 percent year-over-year in July 2021, as 152 homes closed versus 160 that closed in July last year. Pending sales counts also slipped, declining 6.8 percent over last year as buyers drove 150 homes under contract during the month, while new listings jumped 34.9 percent year-over-year, as sellers added 205 new listings to the market, in a strong display of seller confidence.  Inventory is tight and declined 39.1 percent year-over-year leaving 182 homes for sale or 1.1 month of supply last month. Prices are rising in relation to low inventory.  Both the median sales price ($349,112) and the average sales price ($384,920) rose 16.4 percent and 9.9 percent year-over-year respectively, while the average list price of $418,713 reflected a 20.8 percent year-over-year increase.  This brought the original list price to sales price ratio to 100.6 percent, showing sellers getting more than asking price on average for their homes in July 2021. Homes sold at a rapid pace, as evidenced by days on market averaging 13 days in July compared to 61 days this time last year.  Canopy MLS data.

Mecklenburg County home sales declined 15 percent year-over-year as only 2,009 properties sold in July versus 2,364 that sold in July 2020. Pending sales, a typically forward-looking indicator and predictor of future sales, declined 5.1 percent year-over-year as 2,085 properties entered the pipeline of sales during the month, compared to the 2,198 homes that were under contract last July. Mecklenburg County sellers also pulled back in July, as new listings fell 7.6 percent year-over-year, to 2,366 new listings versus 2,561 that were added to the market in July 2020. Inventory continues to be tight, falling 44.3 percent year-over-year leaving1,569 homes for sale at report time or 0.8 months of supply (approximately 24 days of supply).  Prices are feeling the pressure of low inventory, as both the median sales price ($365,000) and the average sales price ($453,720) rose 16.8 percent and 18.1 percent year-over-year respectively. The average list price had a modest rise of 5.3 percent year-over-year to $436,701, which brought the original list price to sales price measure to 102.3 percent, meaning sellers received well over asking prices during July 2021. Days on market continue to trend lower, showing time averaged 15 days versus 30 days in July 2020. Canopy MLS data.

Rowan County closed sales declined 3.4 percent year-over-year in July 2021, with 196 homes sold versus 203 that were sold this time last year. Pending sales show that buyer demand for homes in Rowan County is still strong, rising 23.8 percent year-over-year as 229 homes went under contract during the month. The 18.6 percent year-over-year increase in new listings, that resulted in 236 homes being added to the market, should help buyers with increased choice.  Buyers will note that inventory is tight, falling 50.8 percent year-over-year, leaving 151 homes for sale or 0.8 months of supply (approximately 24 days of supply). Tight inventory will continue to pressure prices which rose in July.  Both the median sales price ($203,000) and the average sales price ($239,806) rose 5.2 percent and 10.2 percent year-over-year respectively. This brings the original list price to sales price ratio to 99.9 percent in July 2021, showing sellers getting almost all of asking price.  Homes sold quickly as evidenced by days on market averaging 11 days during the month versus 31 days this time last year. Canopy MLS data.

Stanly County closed sales declined 16.7 percent year-over-year as 80 homes sold versus 96 that sold in July 2020. Pending sales counts show demand is still steady, as 83 homes went under contract during the month, representing a 12.2 percent year-over-year increase. Buyers looking in Stanly will see some relief in active listings, as sellers listed 101 homes for sale in July representing a 18.8 percent year-over-year increase over new listing activity last July. Inventory is low and fell 30.8 percent year-over-year leaving 81 homes for sale or 1.1 months of supply. Low inventory continues to pressure prices which are rising sharply.  Both the median sales price ($245,000) and the average sales price ($292,760) rose 29.8 percent an 32.6 percent year-over-year respectively, while the average list price rose 31.4 percent year-over-year to $294,101.  Sellers are getting nearly all of asking prices, as indicated by the original list price to sales price ratio of 99.3 percent during the month.  The pace of sales is brisk as displayed by days on market averaging 19 days in July versus 50 days in July 2020.  Canopy MLS data.

Union County sales declined 11 percent year-over-year in July 2021, as 462 homes sold versus 519 that sold last July. Pending sales activity is on-par with buyer activity last year, rising 1.2 percent year-over-year as 493 homes went under contract.  New listings rose 2.1 percent year-over-year as sellers listing 585 homes for sale during the month. Inventory fell 52.1 percent year-over-year leaving 296 homes for sale or 0.7 months of supply (approximately 21 days of supply). Tight inventory will continue to pressure prices. Both the median sales price ($389,050) and the average sales price ($473,457) rose 14.6 percent and 18.7 percent year-over-year respectively, while the average sales price rose 16.9 percent over last year to $484,368.  This brought the original list price to sales price ratio to 102.8 percent, showing sellers getting asking prices and more for their homes last month. Prepared sellers enjoyed faster days on market, which showed homes averaged 10 days on market in July 2021.  Canopy MLS data.

Chester County, S.C., (Due to small sample size, figures and percentages can look extreme.)   July 2021 home sales in Chester County declined 4.2 percent over closed sales activity last year, as 23 homes sold versus 24. Pending contract activity show buyer demand increased 81.3 percent year-over-year as 29 homes went under contract, versus 16 this time last July. Seller confidence is rising, as indicated by 78.3 percent year-over-year increase, a total of 41 homes added to the market, slightly more than double the amount on market in July 2020. Inventory is increasing, rising 20.5 percent year-over-year, adding 47 homes on market versus 39 that were on market in July 2020 or 2.4 months of supply. Prices are in the affordable range and had modest increases over prices last July. Both the median sales price ($172,000) and the average sales price ($192,693) rose 1.2 percent year-over-year, while the average list price rose 6 percent over last year, to $255,688.  Sellers in Chester received all of asking price as indicated by the original list price to sales price ratio rising to 100.5 percent. Homes are selling quickly as indicated by days on market which averaged 16 days in July 2021 versus 71 days during the same period last year.  Canopy MLS data.

Chesterfield County, S.C., (Due to small sample size, figures and percentages can look extreme.)  Home increased 140 percent year-over-year as 12 homes sold compared to five in July 2020, while pending contract activity rose 114.3 percent year-over-year as buyers brought 15 properties under contract during the month. New listing activity increased 44.4 percent year-over-year as sellers listed 13 homes for sale versus nine last July.  However, year-to-date figures show the county pacing ahead of 2020 closed sales, pending sales and new listing activity, in July, which means growth is steady. Inventory fell 21.9 percent year-over-year leaving 25 homes for sale or 2.2 months of supply.  Due to the small number of homes for sale, coupled with tight supply, prices rose sharply.  Both the median sales price ($185,900) and the average sales price ($197,542) rose 28.7 percent and 38.8 percent year-over-year, respectively, while the average list price declined 9.5 percent year-over-year to $210,500. The original list price to sales price measure was 103.5 percent in July 2021, while days on market until sale fell to 24 days versus 94 days in July 2020. Canopy MLS data.

Lancaster County, S.C.’s home sales in July 2021 declined 9 percent year-over-year as 203 homes sold versus 223 that sold this time last year. Pending sales also dropped by 22.5 percent year-over-year as buyers drove 196 homes under contract compared to 253 that were under contract last year. Looking at year-to-date figures closed sales are ahead of the first seven months of 2020 by 9 percent, however year-to-date pending sales are also negative, which could mean that buyers are fatigued by Lancaster’s critically low inventory, which has made it difficult to find homes for sale, amidst increasing prices. New listing activity was also negative and fell 1.3 percent year-over-year as sellers listed 226 homes for sale versus 229 that were listed in July 2020. Inventory, which fell by 53.7 percent year-over-year, leaving 0.7 months of supply or 21 days of supply, continues to pressure prices. Both the median sales price ($350,000) and the average sales price ($364,940) rose 4.5 percent and 4.1 percent respectively, over prices last year, while the average list price rose 17.4 percent over last July’s list price to $413,349.  Sellers received all of asking prices and more, as indicated by the original list price to sales price ratio of 102.2 percent. Days on market averaged 12 days in July 2021 versus 57 in July 2020.  Canopy MLS data.

York County, S.C., home sales decreased 5.8 percent year-over-year in July, as 523 homes were sold compared to 555 that sold in July 2020, while pending sales rose a modest 5.6 percent year-over-year as 582 homes entered the pipeline of sales. New listing activity rose 13.8 percent year-over-year as sellers, who received 102.2 percent of original list price in July, brought 628 homes to market.  Though new listings should help buyers with more choice, it does little to increase inventory, which is still critically low and fell 45.5 percent in year-over-year, leaving 331 homes for sale or 0.7 months of supply (approximately 21 days) at the current sales pace. This dynamic of low supply continues to pressure prices. Both the median sales price ($340,000) and the average sales price ($386,721) rose 13.3 percent and 14.4 percent year-over-year, respectfully, while the average list price ($389,119) rose 17.2 percent year-over-year in July 2021. York’s housing market is moving quickly as indicated by days on market, which averaged 10 days in July 2021 versus 39 days in July 2020. Canopy MLS data.

For more residential housing market statistics, visit www.CarolinaHome.com and click on “Market Data.” For an interview with 2021 Association/Canopy MLS President David Kennedy, please contact Kim Walker at 704-940-3149.


The Canopy Realtor® Association is a trade association that provides its more than 16,000 Realtor® members with the resources and services they need to conduct ethical, professional, successful and profitable businesses. The Association is dedicated to being the region's primary resource for residential real estate information. The Association operates Canopy MLS, which has more than 21,000 subscribers and is the private cooperative Realtors® use for access to tens of thousands of residential listings in a 16-county service area, including Charlotte, 13 counties in the mountains of North Carolina as well as the Rock Hill area of South Carolina.