What Happened In Charlotte Area's Waxhaw Housing Market In Jan 2018?

By
Real Estate Agent with Coldwell Banker Residential Brokerage

Waxhaw, North Carolina

 

January 2018 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)--began the new year on a strong note with closed and pending sales up, and days on market down. New construction sales remain a driving force in the Waxhaw area market.

 

The average sale price of Waxhaw area homes remained flat in January 2018 at just under $439,000 versus January 2017. 

 

Average days on market for property listings dropped by 3 days to 64 days, a 4.5% improvement over the same period last year. 

 

Average price per square foot increased by 0.8% to $128/square foot during January 2018 versus January 2017.

 

Closed sales in Waxhaw/Weddington/Marvin areas increased 6.1% in January 2018 as compared with January 2017.  Closed sales of new construction increased by 6.3% versus a 6.1% increase in resale homes in January 2018 compared with January 2017. Pending sales were up 8.9% versus January 2017 compared with resale homes at 6.4%. 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 96.2%, showing relatively little negotiating room for Waxhaw area homes for a third year in a row. 

 

The Waxhaw area's months supply of homes was down 3.8% to 5 months with new listings up 4.4% versus January 2017. Factoring out new construction, the month's supply of homes is only 3.6 months, up 2.9% versus January 2017.

 

Average sale prices for new construction were just under $483,000 in January 2018. The average sale price of a new construction home was about $37,978 higher than that of a resale home in January 2018.  Average price of a resale home was up 3.1% in January 2018 as compared with one year ago.... a testament to the shortage of resale homes for sale. By the same token, with more inventory available, in general, home prices remained flat in January 2018.

 

 

Waxhaw/Weddington/Marvin Area Local Market Update - January 2018

 

 

 

 

 

 

 

 

 

 

 

SEARCH ALL WAXHAW | WEDDINGTON | MARVIN AREA HOMES

 

WONDERING WHAT YOUR WAXHAW AREA HOME IS WORTH?

 

 

Previous Waxhaw |Weddington |Marvin Area Housing Market Updates:

 

Waxhaw/Weddington/Marvin Housing Market Update: December 2017

Waxhaw/Weddington/Marvin Housing Market Update: Novembet 2017 

Waxhaw/Weddington/Marvin Housing Market Update: October 2017

Waxhaw/Weddington/Marvin Housing Market Update September 2017

Waxhaw/Weddington/Marvin Housing Market Update: July 2017

Waxhaw/Weddington/Marvin Housing Market Update: June 2017

Waxhaw/Weddington/Marvin Housing Market Update: May 2017 

 Waxhaw/Weddington/Marvin Housing Market Update: April 2017

 Waxhaw/Weddington/Marvin Housing Market Update: March 2017

Waxhaw/Weddington/Marvin Housing Market Update: February 2017

Waxhaw/Weddingt/Marvin Housing Market Update: January 2017

Waxhaw/Weddingt/Marvin Housing Market Update: December 2016

Waxhaw/Weddingt/Marvin Housing Market Update: November 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 and Waxhaw area specialists. 

 

If you are considering selling or purchasing a home in the Charlotte metro area, I'd love an opportunity to earn your business, exceed your expectations, and to prove to you that:

 "The Right Broker Makes All The Difference."

 

 

Posted by

 

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
2,651,696
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

Seems like Waxhaw has a strong market to me, of course I believe the market is always strong, people's perceptions seem to influence things way too much.

Feb 06, 2018 04:55 AM #1
Rainmaker
4,432,467
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

You always provide good information about your housing market. Thank you for sharing.

Feb 06, 2018 05:16 AM #2
Rainmaker
3,216,842
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Brian England ~ hi Brian... the Waxhaw market is very strong... good schools, gorgeous communities... what's not to like?

Feb 06, 2018 05:23 AM #3
Rainmaker
3,216,842
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Gita Bantwal ~ thanks, Gita, for the nice comment. Trust your day has gotten off to a great start!

Feb 06, 2018 05:24 AM #4
Rainmaker
3,053,553
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

Another great market report Nina Hollander , hope you have a good day. 

Feb 06, 2018 06:18 AM #5
Rainmaker
3,216,842
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Scott Godzyk ~ thanks, Scott. Appreciate your popping by and the complimentary comment! Have a great day, yourself.

Feb 06, 2018 06:29 AM #6
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Rainmaker
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Nina Hollander

Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor
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