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

 
November 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)--continued 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 November 2017 by 2.4% to just over $440,000 versus November 2016. 
 
Average days on market for property listings dropped by 2 days to 65 days, a 3.0% improvement over the same period last year.  Median days on market also dropped 1 day to 27, a 3.6% improvement in November 2017.
 
Average price per square foot increased by 1.6% to $128/square foot during November 2017 versus November 2016.
 
Closed sales in Waxhaw/Weddington/Marvin areas increased 5.8% in November 2017 as compared with November 2016.  Closed sales of new construction continued to increase at a high rate -- 17.5% versus a 2.3% increase in resale homes in November 2017 compared with November 2016. Pending sales were up 9.1% versus November 2016 with a 16.5% increase in new construction pending sales versus a 6.3% increase in pending sales of resale homes. Clearly, new construction remains very much a driving force in Waxhaw area home sales.
 
The average percent of ... more

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