Waxhaw | Weddington | Marvin (28173 Zip Code) Real Estate Report/Housing Market Snapshot: December 2019
Latest news on the Waxhaw area real estate market and what it means for you...
Waxhaw area (28173 zip code) real estate report/snapshot for December 2019. The Waxhaw area of the Charlotte, North Carolina metro area (28173 zip code–encompassing the three towns of Waxhaw, Marvin and Weddington) continued to see tight inventory (dropping 21.7% year-over-year).
Despite an 8.1% increase in new listings in the Waxhaw area, new construction inventory, which has long been a "staple" for Waxhaw area home sales, plummeted 49.7% year-over-year. Resale inventory also dropped significantly (17.8%) year-over-year. This drop in inventory caused an increase in average home prices -- up 11.6% for resale homes and up 8.7% for new construction homes.
Average days on market decreased 19 days to 57 days year-over-year and by 17 days month-over-month. Median days on market decreased by 7 days to 34 days in December year-over-year and by 15 days month-over-month. Waxhaw area homes sold at a higher pace, for more money, and more quickly in December 2019 compared with one year ago.
Continued tight inventory and a months supply of homes of 2.7 months ( a full month's drop from 3.7 months one year ago), kept the Waxhaw area a seller’s market. The months supply of resale homes was even lower in December at 1.6 months, down from 2.2 months in December 2018.
With home sellers receiving 98.4% of list price there's minimal room for home buyers to negotiate.
Home sale prices (median [$411,905] and average [$482,124]) increased in December 2019 -- up 11.2% on average and up 11.3% for median home prices year-over-year. Both average and median sale prices increased significantly over the prior month of November 2019. Price per square foot increased by $3/square foot to $144 in December versus the same month one year ago.
Closed sales increased 29.8% and pending sales increased 68.5% in December 2019 compared with the same month one year ago.
Want to know what this would mean for your family if you decide to buy or sell a Waxhaw area home?
We can help.
Call us today at 704-779-0813 or contact us here.
There’s absolutely NO OBLIGATION. A consultation with Carolinas Realty Partners is FREE.
MORE INFORMATION ABOUT THE WAXHAW HOUSING MARKET'S PERFORMANCE IN DECEMBER 2019
MORE INFOMATION ABOUT THE WEDDINGTON HOUSING MARKET'S PERFORMANCE IN DECEMBER 2019
MORE INFORMATION ABOUT THE MARVIN HOUSING MARKET'S PERFORMANCE IN DECEMBER 2019
Waxhaw Area Housing Market Highlights:
December 2019 versus December 2018
FIND OUT MORE ABOUT THE WAXHAW | WEDDINGTON | MARVIN AREAS AND WHY PEOPLE LOVE LIVING THERE
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...
THE 13 HOTTEST SELLING NEIGHBORHOODS IN THE WAXHAW AREA
SEARCH ALL WAXHAW | WEDDINGTON | MARVIN AREA HOMES
FREE Home Buyer Guide: “Things To Consider When Buying A Home,”
WONDERING WHAT YOUR WAXHAW AREA HOME IS WORTH?
FREE Home Seller Guide: “Things To Consider When Selling Your House,”
THINKING OF SELLING YOUR HOME? CHECK OUT THE COLDWELL BANKER MARKETING ADVANTAGE
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:
"The Right Broker Makes All The Difference."
Previous Waxhaw |Weddington |Marvin Housing Market Updates:
Waxhaw/Weddington/Marvin Housing Market Update: November 2019
Waxhaw/Weddington/Marvin Housing Market Update: October 2019
Waxhaw/Weddington/Marvin Housing Market Update: September 2019
Waxhaw/Weddington/Marvin Housing Market Update: August 2019
Waxhaw/Weddington/Marvin Housing Market Update: July 2019
Waxhaw/Weddington/Marvin Housing Market Update: June 2019
Waxhaw/Weddington/Marvin Housing Market Update: May 2019
Waxhaw/Weddington/Marvin Housing Market Update: April 2019
Waxhaw/Weddington/Marvin Housing Market Update: March 2019
Waxhaw/Weddington/Marvin Housing Market Update: February 2019
Waxhaw/Weddington/Marvin Housing Market Update: January 2019
Waxhaw/Weddington/Marvin Housing Market Update: December 2018
Originally published at: https://greathomesincharlotte.com/housing-market-reports-updates/waxhaw-real-estate-report-december-2019/
Comments(12)