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

By
Real Estate Agent with Coldwell Banker Residential Brokerage

 

April 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 under $439,000.

 

Average days on market for property listings dropped by 5 days to 63 days, a 7.4% improvement over the same period last year. Median days on market were 27..

 

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

 

Closed sales in Waxhaw/Weddington/Marvin areas increased 6.6% in April 2018 as compared with April 2017. Closed sales of new construction were essentially flat (up 0.5%) versus a 9.6% increase in resale homes in April 2018 compared with April 2017. Pending sales were up 8.5% versus April 2017 with new construction pending sales up 13.0% and resale pending sales up 4.9%. 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 97.2%, 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 7.7% to 4.8 months with new listings up 2.9% versus April 2017. Factoring out new construction, the month's supply of homes is only 3.6 months versus April 2017.

 

Average sale prices for new construction were just over $476,297 in April 2018. The average sale price of a new construction home was about $27,642 higher than that of a resale home in April 2018. Average price of a resale home was up 3.5% in April 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: March 2018

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

 

  

  

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."

 

 

 

 

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 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 - 2018 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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Tags:
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waxhaw weddington marvin nc housing market update april 2018

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Rainmaker
1,801,365
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good evening Nina - very informative market report of Wddington-Marvin North Carolina.

May 04, 2018 05:40 PM #1
Rainmaker
3,119,860
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Nina, interesting that you  guys have so much new construction, sadly here in Los Angeles the approval process kills this market when it takes two to three years to get approvals, just forces people to buy older homes and do remodels instead....Endre

May 04, 2018 07:05 PM #2
Ambassador
3,981,597
Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

We have lots of new construction too. T'his is a very nice presentation, Nina.

May 04, 2018 07:35 PM #3
Rainmaker
2,894,834
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Debbie Reynolds ~ thanks, Debbie. The "problem" with our new construction is that it's not very affordable any more unless you go way, way out geographically.

May 05, 2018 04:26 AM #4
Rainmaker
2,894,834
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Endre Barath, Jr. ~ hi Endre... Charlotte has been a mecca for new construction all 20 years that I've lived here... we may run out of close-in space soon.

May 05, 2018 04:27 AM #5
Rainmaker
2,894,834
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Grant Schneider ~ thanks, Grant. I try to keep the reports from being "deadly" to read.

May 05, 2018 04:27 AM #6
Rainmaker
4,431,023
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 

May 05, 2018 04:28 AM #7
Rainmaker
2,894,834
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Gita Bantwal ~ thanks, Gita, for popping by... wishing you a really lovely weekend.

May 05, 2018 04:41 AM #8
Rainmaker
1,928,480
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Southlake, TX
Selling Homes Changing Lives

Good Morning Nina Hollander - As most of the country continues to feel the crunch of low and lower inventory, builders are creating wealth! Case in point in your area, "New construction remains very much a driving force in Waxhaw area home sales."

May 05, 2018 05:56 AM #9
Rainmaker
2,894,834
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Patricia Feager ~ that's true, Patricia... the underlying potential problem stems from the fact that new construciton is uber-expensive and not affordable for many buyers... with lack of resale inventory the question becomes where do those buyers go to buy.

May 05, 2018 06:13 AM #10
Rainmaker
1,928,480
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Southlake, TX
Selling Homes Changing Lives

Nina Hollander - That's the Million Dollar question! I have been searching at random Realtor.com in all states and results are not exciting. Also, I'm finding fewer and fewer and fewer 1 stories. Those that appear to be on the market are so old and not updated. It scares me to think how many people really need to have a good and solid 1 story due to physical challenges or just prefers it and the availability just isn't there! Plus, if it is available, Investors gobble them up and turn them into rentals and properties still don't have that pizazz, especially with nice curb appeal.

May 05, 2018 06:35 AM #11
Rainmaker
3,974,677
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Nina, Your average prices are soaring, and getting very close to Denver's.   I can imagine this prices out many first time buyers.

May 05, 2018 06:36 AM #12
Rainmaker
2,894,834
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Joan Cox ~ hi Joan... this is very true in the Waxhaw/Weddington/Marvin areas, which have become very upscale.

May 05, 2018 06:52 AM #13
Rainmaker
2,894,834
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Patricia Feager ~ hi Patricia... we have always had a shortage of one-story homes here in Charlotte. One reason is that Charlotteans love their two-story Colonial style looking homes. Some of this is being alleviated by the fact that more patio homes are being built for the emtpy nesters... but it's still not enough.

May 05, 2018 06:53 AM #14
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Rainmaker
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