Waxhaw NC Housing Market September 2009
Carolinas Home Place
Are Homes Sales Up or Down in Waxhaw NC?
Will Your Home Sell?
The latest figures from the Carolinas Multiple Listing Service for zip code 28173 show increasing ↑ sales, but decreasing ↓ sales prices.
In 28173, we closed 145 units over the last 2½ months: 84 homes sold between $150,000 and $400,000. An additional 61 homes sold between $400,000 and $2,000,000.
Statistics of these sold properties indicate sales prices received were 93% of listed price; however, this does not tell the story of distressed property sales, prices accepted by lenders post foreclosure or seller price reductions while listed.
A sampling of these SOLD units show less than 2% gave no reductions during the listing period or priced them at correct market value right away. A sampling of homes sold $238,000-$399,000 during this period show total price reductions to original list price at an aggregate of $827,336 before buyers were motivated to submit an offer to purchase. This means sellers lowered prices an average of $43,000 per property.
Distressed properties continue to affect our market and are driving prices down. If you are deciding whether now is the right time to sell, now is the time for strategic planning.
Call me for a free consultation.