October 2016 home sales in the Waxhaw area of the Charlotte, North Carolina metro area (the 28173 zip code--encompassing the three towns of Waxhaw, Marvin and Weddington) continued on the strong path we've seen since the start of 2016. In fact, October could be described as a stupendous month for Waxhaw area sales.
The average sale price of Waxhaw area homes increased in October 2016 by 8.1% to just over $428,000 versus October 2015. Sales prices were also up as compared with the prior month of September 2016.
Average days on market for property listings dropped by 4 days to 67 days, a 4.6% improvement over the same period last year. Median days on market also dropped 11 days to 29, a 27.5% improvement in October 2016.
Average price per square foot increased by 7.7% to $126/square foot during October 2016 versus October 2015.
Closed sales in Waxhaw/Weddington/Marvin areas increased double digits by 11.2% in October 2016 as compared with October 2015. Pending sales were up 19.3% versus October 2015 with a huge 72.5% increase in new construction pending sales versus an 18.8% increase in sales of resale homes. Clearly, new construction is very much a driving force in Waxhaw area home sales.
The average percent of original list price that sellers received for their homes was 96.2%, showing little negotiating room for Waxhaw area homes for a second year in a row.
The Waxhaw area's months supply of homes was down 7% to 5.2 months with new listings up 10.9% versus October 2015. It's worth pointing out that new listings of resale homes were down 2.2%, so virtually all the new inventory is new construction (up 57.9% over the prior year), where average sale prices were just under $505,000 in October 2016. The average sale price of a new home was about $82,000 higher than than of a resale home in October 2016.
Waxhaw/Weddington/Marvin Area Local Market Update -
October 2016
SEARCH ALL WAXHAW AREA HOMES PRICED FROM $100,000-$250,000
SEARCH ALL WAXHAW AREA HOMES PRICED FROM $251,000-$500,000
SEARCH ALL WAXHAW AREA HOMES PRICED FROM $501,000-$1,000,000
SEARCH ALL WAXHAW AREA HOMES PRICED OVER $1,000,000
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Previous Waxhaw/Weddington/Marvin Area Housing Market Updates:
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September 2016: http://activerain.com/blogsview/4958017/what-happened-in-charlotte-s-waxhaw-area-housing-market-in-sept--2016-
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August 2016: http://activerain.com/blogsview/4941809/what-happened-in-charlotte-s-waxhaw-area-housing-market-in-aug--2016-
- July 2016: http://activerain.com/blogsview/4926735/what-happened-in-charlotte-s-waxhaw-area-housing-market-in-july-2016-
- June 2016: http://activerain.com/blogsview/4909988/what-happened-in-charlotte-s-waxhaw-area-housing-market-in-june-2016-
- May 2016: http://activerain.com/blogsview/4896373/what-happened-in-charlotte-s-waxhaw-area-housing-market-in-may-2016-
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April 2016: http://activerain.com/blogsview/4876942/what-happened-in-charlotte-s-waxhaw-area-housing-market-in-april-2016-
- March 2016: http://activerain.com/blogsview/4860238/what-happened-in-charlotte-s-waxhaw-area-housing-market-in-march-2016-
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February 2016: http://activerain.com/blogsview/4844586/what-happened-in-charlotte-s-waxhaw-area-housing-market-in-feb-2016-
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January 2016: http://activerain.com/blogsview/4825220/what-happened-in-charlotte-area-s-waxhaw-housing-market-in-jan-2016-
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December 2015: http://activerain.com/blogsview/4808366/what-happened-in-charlotte-area-s-waxhaw-housing-market-in-dec-2015-
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November 2015: http://activerain.com/blogsview/4791645/what-happened-in-charlotte-area-s-waxhaw-housing-market-in-nov-2015-
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October 2015: http://activerain.com/blogsview/4775576/what-happened-in-charlotte-area-s-waxhaw-housing-market
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September 2015: http://activerain.com/blogsview/4757319/what-happened-in-charlotte-area-s-waxhaw-housing-market-in-sept-2015-
This Charlotte, North Carolina real estate monthly update for Waxhaw, Weddington, Marvin is brought to you courtesy of Nina Hollander and Carolinas Realty Partners, RE/MAX Executive Realty, your Charlotte metro area real estate consultants.
If you are considering selling or purchasing a home in the Charlotte metro area, I would love an opportunity to earn your business, exceed your expectations, and to prove to you that:
"The Right Broker Makes All The Difference."
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