Waxhaw, NC Area (28173 Zip Code) Housing Market Update/Video: May 2018

By
Real Estate Agent with Coldwell Banker Realty

 

Waxhaw | Weddington | Marvin Housing Market Update/Video: May 2018

 

May 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 year to-date with closed and pending sales up, days on market down, home prices increasing. New construction sales remain a driving force in the Waxhaw area market, while resale inventory struggles.

 

 

 

The average sale price of Waxhaw area homes was up 0.7% to just under $442,000 in May 2018 versus the same period one year ago.

 

Average days on market for property listings dropped by 2 days to 64 days, a 3.0% improvement over the same period last year. Median days on market were 27.

 

Average price per square foot was $133/square foot in May 2018.

 

Closed sales in Waxhaw/Weddington/Marvin areas increased 4.2% in May 2018 as compared with May 2017. Closed sales of new construction were up 1.6% versus a 4.6% increase in resale homes in May 2018 compared with May 2017. Pending sales were up 7.8% versus May 2017 with new construction pending sales up 8.1% and resale pending sales up 7.4%. New construction remains a driving force in Waxhaw area home sales.

 

The median percent of original list price that sellers received for their homes was 98.7%, 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 4.5% versus May 2017. Factoring out new construction, the month's supply of homes is only 3.3 months versus May 2017 and new listings of resale homes were down 0.8%.

 

Average sale prices for new construction were $475,330. in May 2018. The average sale price of a new construction home was about $21,602 higher than that of a resale home in May 2018. Average price of a resale home was up 5.6% in May 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: April 2018 

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 

 

   

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
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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 (20)

Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Nina. No signs of your market cooling in the near or far future! Thanks for the update. Enjoy your day!

Jun 06, 2018 04:31 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Wayne Martin ~ hi Wayne... it seems to be cooling off a bit for high end homes, but the lack of resale inventory continues to be a problem.

Jun 06, 2018 04:36 AM
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

Very nice market report and i love the inclusion of the video Nina Hollander 

Jun 06, 2018 05:38 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 the Waxhaw area of Charlotte, North Carolina.

 

Jun 06, 2018 05:44 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Scott Godzyk ~ thanks, Scott. "They" keep saying that videos are the "bomb" these days... so just trying to stay current.

Jun 06, 2018 05:44 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Gabe Sanders ~ hi Gabe... thanks for stopping by... wishing you a wonderful Wednesday!

Jun 06, 2018 05:45 AM
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

Sounds like business is booming in Waxhaw and I hope that you are getting your fair share of the action!

Jun 06, 2018 07:03 AM
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good morning Nina - what else can you say.  The video says it all.  Wanted- sellers!

Jun 06, 2018 07:39 AM
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Nina I love the video Market Reports.  They are short, keep my attention, yet they are full of valuable information.  Great job.

Jun 06, 2018 08:22 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

George Souto ~ thanks, George. These videos seem to be grabbing everyone's attention so I guess I should keep them.

Jun 06, 2018 08:40 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Grant Schneider ~ hi Grant... you make me feel as if I have to design a wanted poster and put it up all over town!

Jun 06, 2018 08:40 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Brian England ~ hi Brian... Waxhaw is hot, no doubt about it. Have two listings in the area right now, but could use more.

Jun 06, 2018 08:41 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, great market update for these areas, and sounds like inventory will continue to be an issue.  GREAT video! 

Jun 06, 2018 10:09 AM
Roy Kelley
Retired - Gaithersburg, MD

Families on the move will appreciate your real estate market reports.

Jun 06, 2018 11:33 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Joan Cox hi Joan... inventory, or rather thinventory, is killing us. Especially in the under $350K price point.

Jun 06, 2018 12:44 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Roy Kelley thanks, Roy. Once they see how little inventory there is I don't know how much they will actually appreciate me! 

Jun 06, 2018 12:44 PM
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

 You just paid Waxhaw, North Carolina another tribute by doing such a fine job on this market report Nina. .

Jun 06, 2018 01:25 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Paul S. Henderson, REALTOR®,CRS, ~ thanks, Paul. I was selling in both Waxhaw and Ballantyne when many agents just got lost driving out there. Now they are the "hot" spots of Charlotte area.

Jun 06, 2018 02:18 PM
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 

Jun 07, 2018 04:05 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Gita Bantwal good morning, Gita... thank you for always taking time to stop by and check out my posts.

Jun 07, 2018 04:30 AM