September 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 we've seen since the start of 2016. In fact, September could be described as an excellent month for Waxhaw area sales.
The average sale price of Waxhaw area homes increased in September 2016 by 8.1% to just over $428,000 versus September 2015. Sales prices were also up as compared with the prior month of August 2016.
Average days on market for property listings dropped by 4 days to 67 days, a 4.6% improvement over the same period last year. Median days on market also dropped 11 days to 29, a 27.5% improvement in September 2016.
Average price per square foot increased by 7.8% to $125/square foot during September 2016 versus September 2015.
Closed sales in Waxhaw/Weddington/Marvin areas increased double digits by 11.2% in September 2016 as compared with September 2015. Pending sales were up 19.3% versus September 2015 with a huge 72.5% increase in new construction pending sales versus an 18.8% increase in sales of resale homes. Clearly, new construction is very much a driving force in Waxhaw area home sales.
The average percent of original list price that sellers received for their homes was 96.2%, 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 7% to 5.3 months with new listings up 10.9% versus September 2015. It's worth pointing out that new listings of resale homes were down 0.03%, so virtually all the new inventory is new construction (up 57.6% over the prior year), where average sale prices were just under $509,000 in September 2016, a 2% increase in sale price. The average sale price of a new home was about $83,000 higher than than of a resale home in September 2016.
Waxhaw/Weddington/Marvin Area Local Market Update -
September 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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Previous Waxhaw/Weddington/Marvin Area Housing Market Updates:
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August 2016: http://activerain.com/blogsview/4941809/what-happened-in-charlotte-s-waxhaw-area-housing-market-in-aug--2016-
- July 2016: http://activerain.com/blogsview/4926735/what-happened-in-charlotte-s-waxhaw-area-housing-market-in-july-2016-
- June 2016: http://activerain.com/blogsview/4909988/what-happened-in-charlotte-s-waxhaw-area-housing-market-in-june-2016-
- 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
This Charlotte, North Carolina real estate monthly update for Waxhaw, Weddington, Marvin is brought to you courtesy of Nina Hollander and Carolinas Realty Partners, RE/MAX Executive Realty, your Charlotte metro area real estate consultants.
If you are considering selling or purchasing a home in the Charlotte metro area, I would love an opportunity to earn your business, exceed your expectations, and to prove to you that "The Right Broker Makes All The Difference."
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