Special offer

What Happened In Charlotte Area's Waxhaw Housing Market In Dec. 2017?

By
Real Estate Agent with Coldwell Banker Realty 179530

Waxhaw, North Carolina

 

December 2017 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)--ended the year on the strong path we've seen year-to-date with home prices up, closed and pending sales up, and days on market down. New construction sales remain a driving force in the Waxhaw area market.

 

The average sale price of Waxhaw area homes increased in December 2017 by 0.3% to just over $436,000 versus December 2016. 

 

Average days on market for property listings dropped by 3 days to 64 days, a 4.5% improvement over the same period last year. 

 

Average price per square foot increased by 0.8% to $128/square foot during December 2017 versus December 2016.

 

Closed sales in Waxhaw/Weddington/Marvin areas increased 4.2% in December 2017 as compared with December 2016.  Closed sales of new construction continued to increase at a high rate -- 7.0% versus a 3.7% increase in resale homes in December 2017 compared with December 2016. Pending sales were up 6.7% versus December 2016. Clearly, new construction remains 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 relatively little negotiating room for Waxhaw area homes for a third year in a row. 

 

The Waxhaw area's months supply of homes was down 3.8% to 5 months with new listings up 4.6% versus December 2016. Factoring out new construction, the month's supply of homes is only 3.6 months, essentially flat versus December 2016.

 

Average sale prices for new construction were just over $481,000 in December 2017. The average sale price of a new construction home was about $38,158 higher than that of a resale home in December 2017.  Average price of a resale home was up 3.6% in December 2017 as compared with one year ago.... a testament to the shortage of resale homes for sale.

 

 

Waxhaw/Weddington/Marvin Area Local Market Update -

December 2017

 

 

 

 

 

 

 

 

 You might also want to check out 10 of the hottest selling neighborhoods to watch in Union County 

 

SEARCH ALL WAXHAW | WEDDINGTON | MARVIN AREA HOMES

 

WONDERING WHAT YOUR WAXHAW AREA HOME IS WORTH?

 

 

 

Previous Waxhaw |Weddington |Marvin Area Housing Market Updates:

 

Waxhaw/Weddington/Marvin Housing Market Update: Novembet 2017 

Waxhaw/Weddington/Marvin Housing Market Update: October 2017

Waxhaw/Weddington/Marvin Housing Market Update September 2017

Waxhaw/Weddington/Marvin Housing Market Update: July 2017

Waxhaw/Weddington/Marvin Housing Market Update: June 2017

Waxhaw/Weddington/Marvin Housing Market Update: May 2017 

 Waxhaw/Weddington/Marvin Housing Market Update: April 2017

 Waxhaw/Weddington/Marvin Housing Market Update: March 2017

Waxhaw/Weddington/Marvin Housing Market Update: February 2017

Waxhaw/Weddingt/Marvin Housing Market Update: January 2017

Waxhaw/Weddingt/Marvin Housing Market Update: December 2016

Waxhaw/Weddingt/Marvin Housing Market Update: November 2016

Waxhaw/Weddingt/Marvin Housing Market Update: October 2016

 

  

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, your Charlotte metro area real estate consultants and Waxhaw area specialists. 

 

If you are considering selling or purchasing a home in the Charlotte metro area, I'd love an opportunity to earn your business, exceed your expectations, and to prove to you that:

 "The Right Broker Makes All The Difference."

 

 

Originally posted at: https://www.greathomesincharlotte.com/waxhaw-weddington-marvin-nc-housing-market-update-december-2017   

Posted by

 

 Nina Hollander, RE/MAX Broker, Realtor

 

 

 

Broker, Realtor, MBA, GRI, ABR, SRES, CDPE, SFR, SPS, CMRS
Carolinas Realty Partners with Coldwell Banker Realty
Direct: 704-779-0813
Website: www.GreatHomesInCharlotte.com
Blog: News You Can Use From The Greater Charlotte Area
Search For All Charlotte Area Homes: www.GreatHomesInCharlotte.com 

Charlotte Magazine 5-Star Customer Satisfaction Award Winner Since 2007

 

 Connect with me also on these sites:  

 

facebook twitterlinkedinpinterest

  

                                                                                                                                          

Oh by the way, I'm never too busy for any of your referrals!

 

Find Your Charlotte Home

 

How Much Is My Home Worth       Free Charlotte Relocation Package

 

 

 

Disclaimer:  Nothing in this blog article is to be construed as legal advice, tax advice, or financial advice.  For legal advice see an attorney.   For tax advice or financial advice see a tax attorney, certified public accountant, or other qualified professional.

 

Comments (14)

Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Nina. The Waxhaw market is good and getting better in 2018. Enjoy the ride!

Jan 03, 2018 04:54 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Wayne Martin ~ hi Wayne... Waxhaw was where we took buyers who couldn't afford the Ballantyne area... and now it's more expensive on average than Ballantyne locking many out of the market.

Jan 03, 2018 05:05 AM
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Good morning Nina.  Thanks for keeping us informed about the real estate market in Waxhaw.

 

Jan 03, 2018 05:51 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Gabe Sanders ~ hi Gabe... thanks for popping by. I heard this morning there were snowflakes in Florida. Is that true?

Jan 03, 2018 05:54 AM
Gabe Sanders

Maybe in North Florida, nothing down here.

Jan 03, 2018 01:25 PM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Nina, great market update for Waxhaw, and 64 days on market is very low.

Jan 03, 2018 06:26 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Joan Cox ~ hi Joan... 64 days is low for Waxhaw, first because of the high price point, and second, because it's so much new construction and their DOM always skews numbers. My listings in Waxhaw have been selling in under three weeks.

Jan 03, 2018 06:32 AM
Brian England
Ambrose Realty Management LLC - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

I know where to go when I want to know what is going on in Waxhaw and I am sure those in Waxhaw are well aware also!

Jan 03, 2018 06:52 AM
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

Looks like a very well balanced market with no fluff in it. These types of stats should build confidence in both buyers and sellers.

Jan 03, 2018 07:15 AM
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Nina, Another great blog for buyers and sellers to know what the market is doing.  Make it a great day!

 

Jan 03, 2018 07:37 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Brian England ~ one of my favorite areas to sell in, Brian. I've now watched the Waxhaw area explode over the past 20 years.

Jan 03, 2018 09:11 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Joe Pryor ~ hi Joe... the problem now in Waxhaw is the lack of affordable homes and sellers are afraid to sell because there isn't much to move up to.

Jan 03, 2018 09:12 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Will Hamm ~ thanks, Will. I think it's warmer at your end of the world today than here in Charlotte.

Jan 03, 2018 09:12 AM
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

You always provide good information about your housing market. Thank you for sharing 

Jan 03, 2018 02:58 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Gita Bantwal ~ thanks, Gita. Hopefully you are not in the path of this monster snow storm and are staying as safe and warm as possible.

Jan 04, 2018 03:32 AM