Waxhaw | Weddington | Marvin (28173 Zip Code)
Real Estate Report/Housing Market Snapshot:
Latest news on the Waxhaw area real estate market and what it means for you...
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 razor-thin, tight inventory (dropping 26.2% year-over-year). New listings also dropped 19.3% year-over-year in January.
Average days on market decreased 9 days to 63 days year-over-year. Median days on market were 53 days in January 2020.
Continued tight inventory and a months supply of homes of 2.8 months ( a 1.2 month's drop from 4 months one year ago), kept the Waxhaw area a seller’s market.
With home sellers receiving 96.3% of list price there was some room for home buyers to negotiate in January 2020.
Home sale prices (median [$343,500] and average [$391,812]) in January were down 1.6% on average and up 2.5% for median home prices year-over-year. Price per square foot increased 3.1% to $135/square foot in January versus the same month one year ago. The slight drop in average home prices in January should not be seen as a drop in Waxhaw area home values... rather it's more a reflection of the price point of homes sold in the month.
Closed sales decreased 6.8% and pending sales increased 9.2% in January 2020 compared with the same month one year ago. The drop in closed sales can be attributed to the lack of inventory. Resale inventory dropped in January by 27.6%; new construction inventory dropped 53.8%.
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Waxhaw Area Housing Market Highlights:
January 2020 versus January 2019
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...
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:
Previous Waxhaw |Weddington |Marvin Housing Market Updates: