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

By
Real Estate Agent with RE/MAX Executive | Charlotte, NC

 

Waxhaw, NC Area Homes For SaleFebruary 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)--continued 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 was just over $437,000.

 

Average days on market for property listings dropped by 3 days to 63 days, a 4.5% improvement over the same period last year. Median days on market were 29.

 

Average price per square foot increased by 1.6% to $129/square foot during February 2018 versus February 2017.

 

Closed sales in Waxhaw/Weddington/Marvin areas increased 4.4% in February 2018 as compared with February 2017. Closed sales of new construction were essentially flat versus a 5.7% increase in resale homes in February 2018 compared with February 2017. Pending sales were up 12.3% versus February 2017 with new construction pending sales up 17.4% and resale pending sales up 9.3%. 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 96.1%, 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 5.8% to 4.9 months with new listings up 5.2% versus February 2017. Factoring out new construction, the month's supply of homes is only 3.5 months versus February 2017.

 

Average sale prices for new construction were just under $485,000 in February 2018. The average sale price of a new construction home was about $41,000 higher than that of a resale home in February 2018.  Average price of a resale home was up 2.5% in February 2018 as compared with one year ago.

 

 

 

 

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

 

 

 

SEARCH ALL WAXHAW | WEDDINGTON | MARVIN AREA HOMES

 

WONDERING WHAT YOUR WAXHAW AREA HOME IS WORTH?

 

 

 

Instant home value from Nina Hollander, RE/MAX Broker

 

Previous Waxhaw |Weddington |Marvin Area Housing Market Updates:

Waxhaw/Weddington/Marvin Housing Market Update: January 2018

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

  

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 residential real experts 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, Broker, Realtor / REMAX / Carolinas Realty Partners / Ph: 704.779.0813 / F: 704.341.3346 / E: Nina@NinaHollander.com / W: www.GreatHomesInCharlotte.com

Nina Hollander
Broker, Realtor, CRS, GRI, ABR, SRES, CDPE, SFR, SPS, CMRS
Carolinas Realty Partners with RE/MAX Executive Realty
Direct: 704-779-0813
Website: www.GreatHomesInCharlotte.com
Blog: http://activerain.com/blogs/ninahollander
Search for Charlotte Area Homes: www.HomesInCharlotteArea.com

2007 - 2016 Charlotte Magazine 5-Star Customer Satisfaction Award Winner

 

 Connect with me also on these sites:  

 

facebook google plustwitterlinkedinpinterest

  

                                                                                                                                          

Oh by the way, I'm never too busy for any of your referrals!

 

Search Charlotte Real Estate

 

 

 

 

 

How Much Is Your Home Worth

 

 

 

 

 

 

 

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.

 

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Real Estate Market Trends
Location:
North Carolina Union County Waxhaw
Groups:
Waxhaw Rocks!
Market Reports
Buyer Information - What Buyers Need to Know in Today's Market
Union County NC Real Estate
2017 Market Trend Reports
Tags:
weddington nc
waxhaw nc
marvin nc
search all waxhaw weddington marvin homes for sale
waxhaw area housing market update
waxhaw nc area housing market update feb 2018
28173 zip code housing market update

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainmaker
2,716,871
Kristin Johnston - REALTOR®
RE/MAX Realty Center - Waukesha, WI
Giving Back With Each Home Sold!

You pack a ton of useful information in your market reports!  Well done!

Mar 06, 2018 07:21 AM #1
Rainmaker
2,394,199
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Kristin Johnston - REALTOR® ~ thanks, Kristin... since people absorb information differently, I try to provide it in different ways.

Mar 06, 2018 07:27 AM #2
Rainmaker
4,606,385
Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

Waxhaw area home sellers will be in very good hands when they select you as their listing agent.

Mar 06, 2018 07:30 AM #3
Rainmaker
2,588,140
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Nina,  Another great report for your area again, no wonder you dod a ton of business, you have great information.

 

Mar 06, 2018 08:52 AM #4
Rainmaker
602,347
Richard Bazinet /MBA, CRS, ABR
AZuRE Team - Realty ONE Group - Scottsdale, AZ
Phoenix Scottsdale. Sellers, Buyers & Relocations

Wow, interesting numbers Nina. And good morning to you. I hope you don't mind my questions, I read with great interest the difference between the 'average days on the market' at 63 days (that's a fast turnround market) and the 'median days on the market' at 29 days (even faster) - why such a big gap?

I know the difference between average and median. Is this also reflected in the difference of the average price vs. the median price? Could it be the sales of new construction skewing the numbers?

Mar 06, 2018 09:08 AM #5
Rainmaker
2,394,199
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Roy Kelley ~ thanks, Roy. I've been selling in Waxhaw before it was the "it" place and know it like the back of my hand.

Mar 06, 2018 09:35 AM #6
Rainmaker
2,394,199
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Richard Bazinet /MBA, CRS, ABR ~ hi Richard... you hit the nail on the head...it's the new construction that is throwing off some figures because when builders put their stuff into mls can vary greatly from builder to builder and even with one builder.Sometimes they put it in when they release the lot, sometimes when they break ground, sometime half-way through construction and then sometimes they put in a sales figure at closing for comps and it looks like the house was on market for just one day.

Mar 06, 2018 09:37 AM #7
Rainmaker
2,394,199
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Will Hamm ~ thanks, Will. I think it's critical for agents to really know and understand their primary markets and have found that many agents really don't know beyond whatever house they sell.

Mar 06, 2018 09:38 AM #8
Rainmaker
4,002,181
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.

Mar 07, 2018 03:13 AM #9
Rainmaker
2,394,199
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Gita Bantwal ~ good morning, Gita, and as always, thanks for taking time to stop by and leave a comment.

Mar 07, 2018 04:39 AM #10
Rainmaker
1,319,972
Amanda S. Davidson
Amanda Davidson Real Estate Group - Alexandria, VA
Alexandria Virginia Homes For Sale

Nina, your detailed understanding of the market in Waxhaw is impressive. I really liked watching your video, the pace of it is perfect to be able to digest the numbers. 

Mar 07, 2018 04:57 AM #11
Rainmaker
2,394,199
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Amanda S. Davidson ~ thanks, Amanda... I recently started including these 1-2 minute videos as different people digest information in different ways... some like to read (like myself), others like a quick video, others like charts and graphs.

Mar 07, 2018 05:05 AM #12
Ambassador
2,709,819
Paul S. Henderson, REALTOR®,CRS,
RE/MAX Professionals. - Tacoma, WA
Tacoma Washington Agent/Broker & Market Authority!

I don't think I have ever seen a more prolific market report writer then you on ActiveRain Nina Hollander 

Mar 07, 2018 01:22 PM #13
Rainmaker
2,394,199
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Paul S. Henderson, REALTOR®,CRS, ~ hi Paul... thanks. I keep trying to refine the process.

Mar 07, 2018 01:49 PM #14
Ambassador
2,709,819
Paul S. Henderson, REALTOR®,CRS,
RE/MAX Professionals. - Tacoma, WA
Tacoma Washington Agent/Broker & Market Authority!

It appears to me your process is fine because you do such a beautiful job of relaying all this information Nina Hollander 

Mar 07, 2018 01:56 PM #15
Rainmaker
2,394,199
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Paul S. Henderson, REALTOR®,CRS, ~ thanks, Paul. It's a bit of a time consuming process, but it also keeps me on top of the markets via the research.

Mar 07, 2018 02:01 PM #16
Rainmaker
4,254,487
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Good morning Nina.  Thanks for the information and update about the Waxhaw real estate market in Charlotte.

 

Mar 08, 2018 05:51 AM #17
Rainmaker
3,526,367
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Nina, sure those reading your market updates will know how much knowledge you would have for them in representing either a buyer or seller.

Mar 08, 2018 06:41 AM #18
Rainmaker
2,394,199
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Joan Cox ~ hi Joan... of course, that's the idea at the end of the day in doing those market reports, which do take time if you do them right.

Mar 08, 2018 09:05 AM #19
Rainmaker
2,394,199
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Gabe Sanders ~ hi Gabe... always happy to see you popping by... hope you are having a great day today.

Mar 08, 2018 09:06 AM #20
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
2,394,199

Nina Hollander

Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor
What real estate questions can I answer for you today?
*
*
*
*
Spam prevention

Additional Information