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

By
Real Estate Agent with Coldwell Banker Realty 179530

Waxhaw, North CarolinaJune 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

 

 

 

 

 

 

 

 

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

 

SEARCH ALL WAXHAW AREA HOMES PRICED FROM $251,000-$500,000

 

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

 

 SEARCH ALL WAXHAW AREA HOMES PRICED OVER $1,000,000

 

SEARCH ALL WAXHAW AREA TOWNHOMES FOR SALE

 

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WONDERING WHAT YOUR WAXHAW AREA HOME IS WORTH?

 

 Want to stay on top of the market trends in your Waxhaw, Weddington, Marvin or Charlotte metro neighborhood?

Sign up for your FREE Market Snapshot. You'll recieve the latest trends for your neighborhood for sold homes, properties for sale, inventory counts, and even "days-on-market". You can also view information regarding schools and community.

 

Free Market Snapshot For Waxhaw & Charlotte Area Neighborhoods

 

 

Previous Waxhaw Area Housing Market Updates:

 

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 

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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 (6)

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

Thanks for this very useful market report. I love to see how other areas of the country are doing  

Jul 03, 2016 07:55 AM
Lou Ludwig
Ludwig & Associates - Boca Raton, FL
Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC

Nina

The Waxhaw North Carolina 28173 real estate market is hot . . . . hot . . . . hot.

Good luck and success.

Lou Ludwig

Jul 03, 2016 12:06 PM
Sybil Campbell
Fernandina Beach, FL
Referral Agent Amelia Island Florida

If you are a buyer or seller in the Charlotte area, contact Nina Hollander for a great real estate transaction.

Jul 03, 2016 02:16 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Lise Howe ~ hi Lise... I also like to keep an eye on other metro areas of the country to see how they are doing.

Jul 03, 2016 11:02 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Lou Ludwig ~ good morning, Lou... and not just the Waxhaw market in the Charlotte area that's hot... these days it seems almost all of them are hot, hot, hot!

Jul 03, 2016 11:02 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Sybil Campbell ~ good morning, Sybil... and thanks. I see  you are so veeery close to hitting the million mark! When I got that close, it seemed like those last 25,000 points would take forever, but then they didn't!

Jul 03, 2016 11:03 PM