Waxhaw/Weddington/Marvin, NC (28173) Housing Market Update: March 2018

By
Real Estate Agent with Coldwell Banker Realty

 

March 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 trends of the new year to-date on a strong note with closed and pending sales up, and average 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 $438,000.

 

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 28.

 

Average price per square foot increased by 0.8% to $122/square foot during March 2018 versus March 2017.

 

Closed sales in Waxhaw/Weddington/Marvin areas increased 3.7% in March 2018 as compared with March 2017. Closed sales of new construction were essentially flat versus a 4.1% increase in resale homes in March 2018 compared with March 2017. Pending sales were up 11.4% versus March 2017 with new construction pending sales up 11.8% and resale pending sales up 10.3%. New construction remains very much a driving force in Waxhaw area home sales.

 

The median percent of original list price that sellers received for their homes was 97.1%, 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 7.7% to 4.8 months with new listings up 3.4% versus March 2017. Factoring out new construction, the month's supply of homes is only 3.4 months versus March 2017.

 

Average sale prices for new construction were just under $485,000 in March 2018. The average sale price of a new construction home was about $36,500 higher than that of a resale home in March 2018.  Average price of a resale home was up 3.0% in March 2018 as compared with one year ago.

 

  

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Previous Waxhaw |Weddington |Marvin Area Housing Market Updates:

 

Waxhaw/Weddington/Marvin Housing Market Update: February 2018

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

 

  

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

 

 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
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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 (21)

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

You do such a solid job of keeping everyone updated on what is going on in your area!

Apr 07, 2018 06:44 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Brian England ~ thanks, Brian. I try... at the end of the day I believe that's where we earn our money... for our expertise and market knowledge.

Apr 07, 2018 07:38 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Kathy Streib ~ hi Kathy... thank you. Everyone seems to think video is the way to do... so here I am (even though I personally rarely click on them).

Apr 07, 2018 07:39 AM
Roy Kelley
Retired - Gaithersburg, MD

I was finally able to access your blog after several attempts.

Have a great day and an outstanding week.

Apr 07, 2018 08:38 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Nina, you are so right, the prices are edging out the first time buyer, and even some move up buyers.   

Apr 07, 2018 08:46 AM
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Happy Saturday Nina,  People in our  area are afraid to puttheir homes on the market infearofnot finding a home they can afford.    Make ita great day!

 

Apr 07, 2018 08:53 AM
Ginny Gorman
RI Real Estate Services ~ 401-529-7849~ RI Waterfront Real Estate - North Kingstown, RI
Homes for Sale in Southern RI and beyond

Well Nina, you do know your Waxhaw |Weddington |Marvin Areas so well!  The square footage costs are a buy compared to my area at $222/sq. ft. !

Apr 07, 2018 08:55 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Ginny Gorman ~ hi Ginny... we hardly see $222/square foot here even in high end custom built homes.

Apr 07, 2018 09:20 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Will Hamm ~ it's really no different here. Sooner or later something has to give so there is inventory, but I have no clue what and when!

Apr 07, 2018 09:20 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Joan Cox ~ hi Joan... and it's such a shame to see that in a city like Charlotte, which has always been knows for its affordability vis-a-vis residential housing.

Apr 07, 2018 09:21 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Roy Kelley ~ hi Roy... thanks and same to you. There seems to be a problem at the AR end yesterday and today.

Apr 07, 2018 09:22 AM
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Z

Apr 07, 2018 05:02 PM
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

Thanks for sharing about your market, Nina. Have a great weekend.

Apr 07, 2018 07:30 PM
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

Cha! cha! cha! It is easy to dance in the rain while reading your professional market report Nina Hollander 

Apr 07, 2018 10:00 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Debbie Reynolds ~ thanks, Debbie for stopping by and the good wishes. Wishing you a wonderful Sunday.

Apr 08, 2018 04:35 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Paul S. Henderson, REALTOR®,CRS, ~ good morning, Paul... you are too funny... but thank you for the great comment. Have a wonderful Sunday!

Apr 08, 2018 04:36 AM
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 keeping us informed about the real estate market in Waxhaw/Weddington/Marvin, NC areas.

 

Apr 08, 2018 05:05 AM
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hi Nina - your professional voice is a good thing when communicating the stats in your market area. 

Apr 08, 2018 05:30 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Michael Jacobs ~ thanks, Michael. I've always believed if you can tell a story about numbers in a simple way, people get the underlying message.

Apr 08, 2018 05:53 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Gabe Sanders ~ good morning, Gabe. As always, thanks much for popping by! Wishing you the loveliest of Sundays.

Apr 08, 2018 05:54 AM