Here’s what happened in the Cherokee County Housing Market in May of 2026.
Short story—activity has picked up for the spring, but at sort of a reduced volume this year.
The median sales price in May came in at $499,900, which is up about 1.2% YOY. Price per sq ft is also up slightly at $210, a 1.0% increase from the same time last year.
We ended May with 1,440 homes for sale, which is up 20.5% YOY. That’s the most homes for sale in any single month since July of 2015. Buyer traffic, though, has only picked up about 5.3% YOY, though, to around 4 showings per listing per month. So, we’re continuing to see a supply and demand imbalance. With average 30 year mortgage rates ticking up to 6.48%, affordability is keeping potential buyers sidelined.
That has more homes just sitting– Inventory is up 16.7% year over year to 4.2 months, which is a 12 year high and not a particularly positive sign for sellers. Median days on market came in at 17, which is up a 41.7% YOY.
So basically, we continue to have more homes for sale than there are buyers. Homes are sitting longer on market and we’re seeing more price decreases; that will probably feel more pronounced as we get through June, which usually marks the end of the busy spring market..
If you’re thinking about buying or selling a home this year, or just have questions, get in touch, and we’re happy to help!
