Rock Hill, Fort Mill SC Charlotte, North Carolina Home Sale Data

The average Rock Hill home is sold today for more than twice what it was less than a decade ago. However, by comparison, it’s still a pretty good deal in this area.

Homes in Fort Mill and Tega Cay are now worth more than half a million dollars. And that’s just the average price.

Among the average selling prices, every three-county community on the Canopy Realtor Association’s data list saw its first six-digit trend upward in the past year. York County and Lancaster homes now exceed the $400,000 mark. Chester County exceeds $200,000. Lake Wiley, which runs across the state line but is included in North Carolina, has similar trends on both sides of the state line, passing $600,000.

Canopy, the provider of real estate data covering Metro Charlotte, released its May numbers on Wednesday. The numbers reflect sales of the single-family home, cottage, and condos. They showed 7.3% fewer homes sold in the Charlotte area than in May 2021, and fewer pending sales. New listings arrive.

“Sellers are feeling the market is slowing and buyers are still in the home market, being measured more about their purchases, in the wake of rising home prices and mortgage rates,” said Lee Allen, president of Canopy MLS.

The median May home sale price in Rock Hill was more than $347,000, an increase of more than 23% in one year, more than 83% in five years and 112% in nine years.

Tega Cay homes at $520,000 and Lancaster County homes at $454,000 each have more than 20% per year. Fort Mill at $517,000 and Lake Wylie at $600,000 were up about 17% below the Charlotte area average from May 2021 to May 2022, but homes in both places sold for well over the area’s average of $462,000.

The Charlotte-area average is up nearly 99% in May compared to May 2013, the first data point listed by Canopy. Apart from Lake Wylie and its 72% increase in the same range, all listings in York and Lancaster County communities increased by at least 92%.

Chester County had more than two dozen homes sold in May last year and two fewer in May, but the price point difference is significant. Last month’s average sales price of $268,000 was up more than 67% from the same month last year. About three times what any other region has seen in growth, or roughly what Fort Mill has seen in the past five years of growth.

New listings, market days

If the price-to-sale price listing temperature is high, this area will be very hot.

During the month of May, homes in the Charlotte area averaged 101.8% of the initial listing price.

District numbers are even higher, led by Tega Cay (103.2% of listing price), Fort Mill (103.1%), York County and Lake Wylie (101.9% each), Rock Hill (101.6%), Lancaster County (101.5%) and County Chester (95.2%).

The average Charlotte-area home spends 19 days on the market so far this year before it sells. Tega Cay’s house spends 12 days. Fort Mill is also fastest at 18 days, while Rock Hill is in full swing with the area at 19 days. York County (20 days), Lancaster County (21 days), Lake Wylie (22 days) and Chester County (37 days) all have longer sell times.

The total number of closed-home sales through May of this year remained roughly flat in Rock Hill compared to last year, with only one sale being lower. Sales of the 750 this year in Rock Hill are more than Fort Mill (601), Lake Wylie (585) or Tega Cay (134). Aside from Rock Hill, these communities have far fewer closed sales this year than they did in the same period last year.

Closed sales for the Charlotte area are down so far this year compared to last year, as are York and Lancaster counties. York County had 2,106 closed sales through May compared to 2,235 sales in that period last year. Lancaster County had 787 sales through May of this year, compared to 921 sales at the same point last year.

Chester County, which has data in the Canopy system dating back only to 2019, reflects this trend. During the month of May, closed sales in Chester County increased from 76 in 2019 and 74 in 2020 to 85 sales last year and 122 sales this year.

This story was originally published June 23, 2022 2:08 pm.

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