Here’s what happened in the Cherokee County Housing Market in July of 2026.
Short story—it’s more of the same. Inventory continues to build and we continue to see downward pressure on prices.
The median sales price in July came in at $509,000, which is up about 6.1% YOY. That increase in sales price, though, is largely due to inventory mix; price per sq ft is down for the 3rd month in a row, at $203, a 3.8% decrease from the same time last year.
We ended July with 1,477 homes for sale, which is up 12.8% YOY. That’s the most homes for sale in any single month in the last 11 years. Buyer traffic is up just 3% YOY, at around 3.4 showings per listing per month. So, we’re continuing to see a supply and demand imbalance. Average 30 year mortgage rates are now up to 6.69%, the highest they’ve been this year, and affordability is keeping potential buyers sidelined.
That has more homes just sitting– Inventory is holding at 4.3 months, which is up 7.5% versus last July, and a 12 year high. Pending sales, those homes under contract and set to close, is down 10.8% YOY at 298. As of today, the homes currently actively listed in Cherokee county have been on market for an average of 98 days.
So we continue to have more homes for sale than there are buyers, and that is starting to push prices down. Maybe not dramatically, and maybe not in every neighborhood, but as we head into the fall it’s probably going to feel a bit more pronounced.
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!
