Waxhaw | Weddington | Marvin Housing Market Update/Video: June 2018
June 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 we've seen all year 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 to hold on.
The average sale price of Waxhaw area homes was up 1.2% to just over $443,000 in June 2018 versus the same period one year ago.
Average days on market for property listings dropped to 63 days, a 6.0% improvement over the same period last year. Median days on market were 25 (down 7.4%).
Average price per square foot was $129/square foot in June 2018, up 0.8%.
Closed sales in Waxhaw/Weddington/Marvin areas increased 1.9% in June 2018 as compared with June 2017. Pending sales were up 10.9% versus June 2017.
The median percent of original list price that sellers received for their homes was 97.3%, 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 9.6% to 4.7 months with new listings up 2.4% versus June 2017. Factoring out new construction, the month's supply of homes is only 3.2 months (down 13.5 %) versus June 2017 and new listings of resale homes were down 2.1%.
Average sale prices for new construction were $478,616 in June 2018. The average sale price of a new construction home was $26,380 higher than that of a resale home in June 2018. New construction remains a driving force in Waxhaw area home sales. Average price of a resale home was up 3.9% in June 2018 as compared with one year ago.
Previous Waxhaw |Weddington |Marvin Area Housing Market Updates:
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: