From October through December of 2019, there were 12 homes sold, with a median sale price of $279,000 - a 38.3% increase over the $201,750 median sale price for the same period of the previous year. There were six homes sold in Locust in the fourth quarter of 2018.
The median sales tax in Locust for 2019 was $1,474. In 2018, the median sales tax was $1,396. This marks an increase of 5.6%. The effective property tax rate, using the median property tax and median home sale price as the basis, is 0.5%.
The following table compares Locust to other Cabarrus County cities in the fourth quarter of 2019:
| City | Oct. - Dec. 2019 Home Sales | Oct. - Dec. 2018 Home Sales | % change (Total Home Sales) | Oct. - Dec. 2019 Median Sales Price | Oct. - Dec. 2018 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| Charlotte | 16 | 9 | 77.8% | $312,000 | $218,500 | 42.8% |
| Harrisburg | 83 | 85 | -2.4% | $295,000 | $252,000 | 17.1% |
| Locust | 12 | 6 | 100% | $279,000 | $201,750 | 38.3% |
| Mount Pleasant | 3 | 7 | -57.1% | $224,000 | $203,000 | 10.3% |
| Midland | 47 | 47 | 0% | $214,000 | $205,000 | 4.4% |
| Concord | 614 | 572 | 7.3% | $199,250 | $187,000 | 6.6% |
| Kannapolis | 268 | 204 | 31.4% | $165,000 | $148,500 | 11.1% |
| Fisher Town | 1 | 1 | 0% | $60,000 | $32,000 | 87.5% |
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