What Happened In Charlotte Area's Waxhaw Housing Market In Feb 2017?

By
Real Estate Agent with Coldwell Banker Residential Brokerage

Waxhaw, North Carolina

 

February 2017 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 saw as the year began with home prices up, closed and pending sales up by double digits, and days on market down.

 

The average sale price of Waxhaw area homes increased in February 2017 by 9.1% to just under $440,000 versus February 2016. Average sale prices were also up versus January 2016.

 

Average days on market for property listings dropped by 5 days to 67 days, a 6.9% improvement over the same period last year.  Median days on market also dropped 10 days to 27, a 27.0% improvement in February 2017.

 

Average price per square foot increased by 6.7% to $127/square foot during February 2017 versus February 2016.

 

Closed sales in Waxhaw/Weddington/Marvin areas increased double digits by 15.5% in February 2017 as compared with February 2016.  Pending sales were up 7.7% versus February 2016 with a 27.4% increase in new construction pending sales versus a 7.6% increase in pending sales of resale homes. Clearly, new construction remains very much a driving force in Waxhaw area home sales.

 

The average percent of original list price that sellers received for their homes was 96.8%, showing little negotiating room for Waxhaw area homes for a third year in a row.

 

The Waxhaw area's months supply of homes was down 13.8% to 5 months with new listings up 6.2% versus February 2016. If you factor out new construction, the month's supply of homes is only 3.4 months, down 17.1% versus February 2016. It's also worth pointing out that new listings of resale homes were up less than 1%, so virtually all the new inventory is new construction (up 25.4% over the prior year), where average sale prices were just under $508,000 in February 2017. The average sale price of a new construction home was about $73,634 higher than than of a resale home in February 2017

 

 

Waxhaw/Weddington/Marvin Area Local Market Update -

February 2016

 

 

 

 

 

 

 

 

 

SEARCH ALL WAXHAW | WEDDINGTON | MARVIN AREA HOMES

 

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Previous Waxhaw |Weddington |Marvin Area Housing Market Updates:

 

Waxhaw/Weddingt/Marvin Housing Market Update: January 2017

Waxhaw/Weddingt/Marvin Housing Market Update: December 2016

Waxhaw/Weddingt/Marvin Housing Market Update: November 2016

Waxhaw/Weddingt/Marvin Housing Market Update: October 2016

Waxhaw/Weddingt/Marvin Housing Market Update: September 2016

Waxhaw/Weddingt/Marvin Housing Market Update: August 2016

Waxhaw/Weddingt/Marvin Housing Market Update: July 2016

Waxhaw/Weddingt/Marvin Housing Market Update: June 2016

Waxhaw/Weddingt/Marvin Housing Market Update: May 2016

Waxhaw/Weddingt/Marvin Housing Market Update: April 2016

Waxhaw/Weddingt/Marvin Housing Market Update: March 2016

Waxhaw/Weddingt/Marvin Housing Market Update: February 2016



   

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, 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."

 

 

 

 

Originally published at: http://www.greathomesincharlotte.com/what-happened-in-charlotte-areas-waxhaw-housing-market-in-feb-2017 

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SEARCH ALL CHARLOTTE METRO AREA HOMES HERE

 

 Nina Hollander, RE/MAX Broker, Realtor

 

 

 

 

 

 

Nina Hollander

Broker, Realtor, MBA, GRI, ABR, SRES, CDPE, SFR, SPS, CMRS
Carolinas Realty Partners with Coldwell Banker Residential Brokerage
Direct: 704-779-0813
Website: www.GreatHomesInCharlotte.com
Blog: News You Can Use From Charlotte/Ballantyne/Waxhaw/Fort Mill
Search For All Charlotte Area Homes: www.GreatHomesInCharlotte.com 

2007 - 2019 Charlotte Magazine 5-Star Customer Satisfaction Award Winner

 

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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.

 

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Rainmaker
3,272,501
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Nina. Looks like all signs are good and new construction must carry the day for a bit. Enjoy your day 

Mar 03, 2017 04:11 AM #1
Rainmaker
3,173,525
Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Home and Condo Specialists

"Home prices up, closed and pending sales up by double digits, and days on market down" ...this says how strong the Waxhaw housing market is and consumers are going to like reading this!

Mar 03, 2017 04:19 AM #2
Rainmaker
3,089,947
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Wayne Martin ~ good morning, Wayne... the problem is that our new construction is so far above our average home prices and so too many buyers are being priced out of this market.

Mar 03, 2017 04:25 AM #3
Rainmaker
3,089,947
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400 ~ hi Larry and Sheila... well, sellers will like this news... not so sure about buyers, though!

Mar 03, 2017 04:26 AM #4
Ambassador
1,613,719
Harry F. D'Elia
RentVest - Phoenix, AZ
Investor , Mentor, GRI, Radio, CIPS, REOs, ABR

Thanks for providing your local real estate information with us today

Mar 03, 2017 05:08 AM #5
Ambassador
1,485,851
Jim Crawford
Crye-Leike REALTORS® - Atlanta, GA
Jim Crawford Atlanta Best Listing Agents & REALTOR

Nina Hollander Thank you so much for preparing this report and taking the time to share it.  This is vital information for all looking to buy or sell real estate.

Mar 03, 2017 06:01 AM #6
Rainmaker
3,089,947
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Jim Crawford ~ hi Jim... as they say, knowledge is power. And thanks for always stopping by and taking time to comment.

Mar 03, 2017 09:54 AM #7
Rainmaker
3,089,947
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Harry F. D'Elia ~ hi Harry... and thank you for popping by with a comment. Enjoy your weekend.

Mar 03, 2017 09:54 AM #8
Ambassador
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George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Nina a double digit increase is really saying something give the strong year you guys had in 2016.  Hope that trend continues throughout 2017.

Mar 03, 2017 04:39 PM #9
Rainmaker
3,089,947
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

George Souto ~ good morning, George. It will be interesting to see what happens if Fed raises rates later this month as they indicated they might do yesterday.

Mar 04, 2017 03:53 AM #10
Rainmaker
4,432,217
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Anyone thinking of buying a home in Waxhaw should call you.

Mar 04, 2017 04:06 AM #11
Rainmaker
3,089,947
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Gita Bantwal ~ thanks, Gita... hope your weekend has started off well and will only get better!

Mar 04, 2017 04:30 AM #12
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Rainmaker
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