July 21. Home sales in Cornelius and the overall Charlotte region continued their trend toward normalization in June, while year over year prices were down slightly, according to data released by Canopy MLS.

The average price of homes sold in Cornelius during June was $721,000, down from $893,000 a year ago. Metrics regarding new listings and closed sales were down slightly, and homes remained on the market slightly longer—by only three additional days. Inventory rose sharply from 97 homes to 162 homes, marking a 67 percent increase.

The year-to-date picture shows a more positive overall housing outlook. New listings are up 10.5 percent, and the average sales price is down only 6.6 percent, from $572,000 to $535,000. The months’ supply of inventory rose 66.7 percent to three and a half months; four to five months of supply is considered average.

“Even in the face of ongoing economic uncertainty, higher living costs, and elevated mortgage rates, buyers are clearly still motivated when opportunity strikes,” said Charisma Southerland, president of Canopy MLS. “More inventory and a slight cooling in prices shows that many buyers are reengaging—particularly in areas where affordability is improving.”

Mortgage rates have continued to fluctuate this year, having dropped for five straight weeks but inching up for the last two weeks. According to Zillow, current rates on a 30-year fixed mortgage are around 6.875 percent.