June 2016 home sales in the Waxhaw area of the Charlotte, North Carolina metro area (the 28173 zipcode--encompassing the three towns of Waxhaw, Marvin and Weddington) continued on the strong path we saw since the start of 2016.
The average sale price of Waxhaw area homes increased last month by 10.5% to just under $422,000 versus June 2015.
Median days on market for property listings dropped by 9 days to 32 days, a 22.0% improvement over the same period last year. Average days on market also dropped by 8.1% in June 2016.
Price per square foot increased by 8.8% to $123/square foot during June 2016 versus June 2015.
Closed sales in Waxhaw/Weddington/Marvin areas decreased 1% in June 2016 as compared with June 2015. The lack of inventory priced at $300,000 and below is hurting sales in the Waxhaw area. Pending sales were up 13.5% versus June 2015 with a 41.5% increase in new construction pending sales versus a 4.5% increase in sales of resale homes.
The average percent of original list price that sellers received for their homes was 95.9%, 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 3.5% to 5.5 months with new listings up 11.9% versus June 2015. It's worth pointing out that new listings of resale homes were down 0.1%, so virtually all the new inventory is new construction (up 54.6% over the prior year), where average sale prices were just under $516,000 in June 2016, a 12.6% increase in prices.
Waxhaw/Weddington/Marvin Area Local Market Update -
June 2016
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Previous Waxhaw Area Housing Market Updates:
- 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-
- August 2015: http://activerain.com/blogsview/4738380/what-s-happening-in-charlotte-s-waxhaw-area-housing-market-august-2015
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July 2015: http://activerain.com/blogsview/4717107/july-2015-charlotte-housing-market-update-waxhaw-weddington-marvin
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June 2015: http://activerain.com/blogsview/4698877/june-2015-charlotte-housing-market-update-waxhaw-weddington-marvin
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