November 2009 Union County Real Estate Market Update: Waxhaw, Weddington, Indian Trail, Monroe

Real Estate Market Update for

Single Family Homes in Union County North Carolina including:

Matthews, Stallings, Indian Trail, Weddington, Monroe, Marvin, Wesley Chapel, Mineral Springs, Waxhaw, Marshville, Wingate, and Peachland

Data gathered for November 1 - November 30 2009 from the CMLS

New Listings 358

In comparison to: -20.09% October | -12.04% 2008 | -20.8% 2007 | -12.68% 2006 | -12.68% 2005

Pending Sales: 170

In comparison to: -20.56% October | +30.77% 2008 | -26.41% 2007 | -55.73%
2006 | -49.4% 2005

Sold Listings: 155

In comparison to: -16.67% October | +25% 2008 | -24.76% 2007 | -47.28% 2006 | -50.48% 2005

Average Sold Price: $323,278

In comparison to: -4.41% October | +3.51% 2008 | -15.03% 2007 | -14.82% 2006 | -5.84% 2005

Median Sales Price: $185,022 (includes any single-family homes that closed in November as well as Condos and Townhomes)

Average Days on Market until Contract: 118

In comparison to: +13.46% October | +28.26% 2008 | +34.09% 2007

Seller Concessions:

48% of the single family homes that closed in Union County in November offered a seller concession, averaging $3,537.

Buyer Financing:

• Conventional: 73
  
• FHA: 43
  
• Cash: 20
• VA: 7
• Other: 6
• Owner Financing: 3
• FMHA (USDA Rural Housing Loan): 3
  

Tax Value as compared to Sold Price

In November, homes in Union County closed at 115.18% of their assessed property tax value.

Percentage of Listed Price Received

Sellers in Union County received 90.56% of their original asking price for the sales in November. When concessions are subtracted from the sales price, the figure drops to 89.54%. Of the homes that sold in less than 99 days, those sellers received 94.44% of their asking price while homes on the market for more than 100 days yielded only a 84.88% return of the original asking price.

Waxhaw NC Homes For Sale