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What Happened In Charlotte's Waxhaw Area Housing Market In April 2016?

By
Real Estate Agent with Coldwell Banker Realty 179530

Waxhaw, North CarolinaApril 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 begun in the first quarter of 2016.

 

The average sale price of Waxhaw area homes increased last month by 9.4% to just over $409,000 versus April 2015.

 

Median days on market for property listings dropped by 10 days to 33 days, a 22.2% improvement over the same period last year. Average days on market also dropped by 9.1% in April 2016.

 

Price per square foot increased by 8.0% to $121/square foot during April 2016 versus April 2015.

 

Closed sales in Waxhaw/Weddington/Marvin areas decreased 1.1% in April 2016 as compared with April 2015.  The lack of inventory priced at $300,000 and below is hurting sales in the Waxhaw area. Pending sales were up 8.0% versus April 2015.

 

The average percent of original list price that sellers received for their homes was 95.5%, showing minimal negotiating room for Waxhaw area homes for a second year in a row.

 

The Waxhaw area's months supply of homes was down 5.2% to 5.5 months with new listings  up 1.6% versus April 2015.

 

Waxhaw/Weddington/Marvin Area Local Market Update -

April 2016

 

 

 

 

 

 

 

 

 

 

 SEARCH ALL WAXHAW AREA HOMES PRICED FROM $100,000-$250,000

 

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SEARCH ALL WAXHAW AREA HOMES PRICED FROM $501,000-$1,000,000

 

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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
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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 (18)

Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

Looks like you have a dynamic market. We are starting to slow down in the outer parts of DC

May 01, 2016 04:48 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Lise Howe ~ hi Lise, the only thing slowing down here is inventory of homes to sell! Unfortunately, that also means a slowdown in closings and pendings.

May 01, 2016 04:49 AM
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Nina that is not a bad drop in sales considering the lack of inventory.

May 01, 2016 04:55 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

George Souto ~ you're right, George. We're not talking but a difference of 14 houses sold in total.

May 01, 2016 05:49 AM
Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

There just doesn't seem to be an upside to the market, hopefully your positive numbers continue in the same direction.

May 01, 2016 08:15 AM
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

Like most of the country homes are selling very very fast and it will continue

May 01, 2016 10:51 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

William Feela ~ hi Bill... I don't mind the fast selling... what I mind is lack of inventory .

May 01, 2016 11:11 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Joe Petrowsky ~ hi Joe... ultimately it comes down to inventory; at some point without enough homes to sell we will have an issue with sales increasing.

May 01, 2016 11:11 AM
Lou Ludwig
Ludwig & Associates - Boca Raton, FL
Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC

Nina

Thanks for sharing the April 2016 real estate market update for Waxhaw, North Carolina.

Good luck and success.

Lou Ludwig

May 01, 2016 11:46 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Lou Ludwig ~ good morning, Lou. Thanks for always stopping by and taking time to leave me a positive comment.

May 01, 2016 08:15 PM
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Hi Nina.  Thanks for the update for the Waxhaw area real estate market of Charlotte, North Carolina. 

May 01, 2016 09:29 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Gabe Sanders ~ good morning, Gabe. Trust you had a good weekend. And thank you for taking time to stop by.

May 01, 2016 09:57 PM
Brian England
Ambrose Realty Management LLC - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

Seems like Waxhaw would be a wonderful place to live and I would call you if I were looking to live there!

May 01, 2016 11:16 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, very comprehensive market report for Waxhaw, and nice price increase for the area!  

May 01, 2016 11:38 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Joan Cox ~ thanks, Joan. Those price increases are what are keeping sales down in Waxhaw areas, unfortunately.

May 02, 2016 12:56 AM
Joan Cox

We are seeing this too Nina!

May 02, 2016 01:01 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Brian England ~ hi Brian... Waxhaw is a lovely place (mostly old horse country). And I'd take real good care of you if came here to live!

May 02, 2016 12:57 AM
Katerina Gasset
The Gasset Group & Get It Done For Me Virtual Services - Provo, UT
Amplify Your Real Estate & Life Dreams!

This is a very detailed market report on Waxhaw housing, Nina!  Your first quarter looks good.  Hope it goes that way for the rest of the year.  Make it an awesome day!

May 04, 2016 11:24 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Nestor & Katerina Gasset ~ hi Nestor and Katerina... Waxhaw is doing well; sometimes I bit too well as it's increasingly pricing itself out of the more "affordable" home market.

May 04, 2016 08:36 PM