Waxhaw | Weddington | Marvin (28173 Zip Code) Real Estate Report/Housing Market Snapshot: November 2019
Latest news on the Waxhaw area real estate market and what it means for you...
Waxhaw (28173 zip code) real estate report/snapshot for November 2019. The Waxhaw area of the Charlotte, North Carolina metro area (the 28173 zip code–encompassing the three towns of Waxhaw, Marvin and Weddington) continued to see tight inventory (dropping 20.9% year-over-year) as well as a decrease of 8.1% in new listings.
New construction inventory, which has long been a "staple" for Waxhaw area home sales plummeted 47.1% year-over-year. Resale inventory also dropped significantly (20.2%) year-over-year. Average days on market were flat year-over-year at 74 days. Median days on market dropped 3 days to 49 days in November compared with the same month one year ago.
With continued tight inventory and months supply of homes dropping to 3.1 months (from 4.2 months one year ago), the Waxhaw area remains a seller’s market. The months supply of resale homes was even lower in November at just 1.9 months, down 26.9% year-over-year.
With home sellers receiving 95.9% of list price there's some room for home buyers to negotiate, but not a lot.
Home sale prices (median [$349,027] and average [$427,324]) were down slightly in October, but this might be more a factor of the huge decrease in new construction and the price mix of homes for sale in November than any dimunition in the value of homes in the 28173 zip code. Price per square foot increased by $4/square foot to $139 in November versus the same month one year ago.
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Waxhaw Area Housing Market Highlights:
November 2019 versus November 2018
Did You Know...
Weddington is ranked as the 4th best suburb to live in in Charlotte metro area and the 10th best suburb in North Carolina?
Marvin is ranked as the 8th best suburb to live in in Charlotte metro area and the 16th best suburb in North Carolina?
Waxaw is ranked as the 12th best suburb to live in in Charlotte metro area and the 24th best suburb in North Carolina?
... So why not check out...
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Median Home Price Trends In Waxhaw | Weddington | Marvin
This Charlotte, North Carolina real estate monthly update for Waxhaw, Weddington, Marvin is provided by Nina Hollander and Carolinas Realty Partners, Coldwell Banker, your Charlotte metro area residential real experts and Waxhaw/Weddington/Marvin area specialists. We've been opening doors for Waxhaw area home buyers and sellers for 20+ years.
If you're considering selling or purchasing a home in the Charlotte metro area, I'd love an opportunity to earn your business, to exceed your expectations, and to show you how:
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