How COVID-19 Affected Waxhaw | Weddington | Marvin Home Sales In April 2020

By
Real Estate Agent with Coldwell Banker Realty
https://activerain.com/droplet/5nfZ

 

Waxhaw | Weddington | Marvin (28173 Zip Code)

Real Estate Report/Housing Market Snapshot: April 2020

  

Latest news on how Covid-19 restrictions impacted the Waxhaw area real estate market in April and what it means for you...

 

COVID-19 restrictions in North Carolina were in full force in April, impacting inventory, closed and pending sales, new listings, home showings -- all of which were down significantly in April. With less inventory, home sale prices increased, days on market decreased, and the percent of asking price that home sellers realized increased.

 

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 29.4% year-over-year). New listings decreased 31.6% year-over-year in April. 

 

Average days on market decreased 46 days to 43 days year-over-year and decreased 14 days month-over-month.  Median days on market were 7 days in April, down 20 days year-over-year and down 6 days month-over-month. Home showings were considerably lower in April 2020 at 1,054 showings compared with 2,973 in April 2019 due to COVID-19 restrictions and stay-at-home orders. 

 

Continued tight inventory and a months supply of homes of 3 months (a 1.3 month's drop from 4.3 months one year ago), kept the Waxhaw area a seller’s market. Resale inventory dropped  37.7% to just 1.9 months; new construction inventory dropped 37.3% in April.

 

With home sellers receiving 98.9% of list price (up 1.7% year-over-year) there was less room for home buyers to negotiate in April 2020 than in the previous year and the previous month.

 

Home sale prices (median [$465,000] and average [$537,759]) in April increased 12% on average and 18.3% for median home prices year-over-year.  Price per square foot increased 7.2% to $148/square foot (up $10/square foot) in April versus the same month one year ago. 

 

Closed sales decreased 34.4% and pending sales decreased 21.7% in April 2020 compared with the same month one year ago. It's not unreasonable to assume this was due to COVID-19 restrictions on real estate activities and stay-at-home orders.

 

  

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 APRIL 2020 

 

MORE INFOMATION ABOUT THE WEDDINGTON HOUSING MARKET'S PERFORMANCE IN APRIL 2020 

 

MORE INFORMATION ABOUT THE MARVIN HOUSING MARKET'S PERFORMANCE IN APRIL 2020

 

 

Waxhaw Area Housing Market Highlights:

April 2020 versus April 2019

 

 Waxhaw Area Home Sales Report April 2020


  

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

 

Hot Waxhaw Area Neighborhoods

 

 

               SEARCH ALL WAXHAW | WEDDINGTON | MARVIN AREA HOMES

 

 

Search For Waxhaw, Weddington, Marving Homes For Sale

 

 

 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 Realty, 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 Waxhaw area or anywhere 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: March 2020

Waxhaw/Weddington/Marvin Housing Market Update: February 2020

Waxhaw/Weddington/Marvin Housing Market Update: January 2020

Waxhaw/Weddington/Marvin Housing Market Update: December 2019

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

 

 

 

 Original blog post can be read at: https://www.GreatHomesInCharlotte.com  

Posted by

 

SEARCH ALL CHARLOTTE METRO AREA HOMES HERE

 

 Nina Hollander, RE/MAX Broker, Realtor

 

 

 

 

 

 

Nina Hollander

Broker, Realtor, MBA, GRI, ABR, SRES, CDPE, SFR, SPS, CMRS
Carolinas Realty Partners with Coldwell Banker Realty
Direct: 704-779-0813
Website: www.GreatHomesInCharlotte.com
Blog: News You Can Use From Charlotte/Ballantyne/Waxhaw/Fort Mill
Search For All Charlotte Area Homes: www.GreatHomesInCharlotte.com 

Charlotte Magazine 5-Star Customer Satisfaction Award Winner Since 2007

 

 Connect with me also on these sites:  

 

facebook twitterlinkedinpinterest

  

                                                                                                                                          

Oh by the way, I'm never too busy for any of your referrals!

 

Find Your Charlotte Home

 

How Much Is My Home Worth       Free Charlotte Relocation Package

 

 

 

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.

 

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Real Estate Market Trends
Location:
North Carolina Union County Waxhaw
Groups:
Waxhaw Rocks!
Charlotte NC Real Estate
Buyer Information - What Buyers Need to Know in Today's Market
Union County NC Real Estate
2020 Market Reports
Tags:
waxhaw homes for sale
weddington nc homes for sale
marvin nc homes for sale
homes for sale in 28173 zip code
great homes in charlotte
waxhaw area real estate report
how covid19 affected waxhaw area home sales

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainmaker
3,156,899
James Dray
Fathom Realty - Bentonville, AR
Exceptional Agents, Outstanding Results

Morning Nina.

Showings were down in March as well as April.  May, so far, is starting to pick up.  We'll see what happens as the month marches on

May 13, 2020 01:23 AM #5
Rainmaker
3,329,796
Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Home and Condo Specialists

Nina, Yes we are seeing these type of stats too, but Waxhaw, Weddington and Marvin home sales will return to their "Norm" soon!

May 13, 2020 04:12 AM #6
Rainmaker
3,441,549
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Sheri Sperry - MCNE® thanks, Sheri. Times are certainly strange and uncertain... it's really hard to predict what may or may not happen.

May 13, 2020 04:42 AM #7
Rainmaker
3,441,549
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400 good morning, Sheila and Larry.... hard to say what the "norm" will be. The Waxhaw area is one with lots of homes that would require a jumbo loan... and that is one loan product that seems to have gone away.

May 13, 2020 04:43 AM #8
Rainmaker
3,441,549
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Myrl Jeffcoat good morning again, Myrl. And, again, thanks much for taking the time to stop by.

May 13, 2020 04:44 AM #9
Rainmaker
3,441,549
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

James Dray good morning, James... of course, part of the issue is having inventory... without inventory it's hard to keep sales going.

May 13, 2020 04:45 AM #10
Rainmaker
1,725,882
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co. Notary Services, retired Realtor

Nina Hollander it looks like anyone even considering selling ought to jump in with both feet RIGHT NOW! A good place to start would be to give the Goddess of Real Estate, Nina Hollander, a call.

May 13, 2020 06:36 AM #11
Rainmaker
2,876,135
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

The numbers certainly tell the story and you always tell such a great story about your area!

May 13, 2020 07:25 AM #12
Ambassador
3,249,952
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

Can you believe how many agents will drop out of real estate during the come back? A true professional sees this as opportunity...

Happy Wednesday my friend Nina Hollander 🤓

May 13, 2020 07:40 AM #13
Rainmaker
3,441,549
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Bob "RealMan" Timm hi Bob... never quite thought of myself as the goddess of real estate... always said I was the queen of real estate! :)

May 13, 2020 09:24 AM #14
Rainmaker
3,441,549
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Brian England hi Brian... the numbers will always tell the story... and sometimes we have to help people understand what's "behind" the numbers telling the story..

May 13, 2020 09:25 AM #15
Rainmaker
3,441,549
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Paul S. Henderson, REALTOR®, CRS hi Paul... I believe there are always opportunities in our business... there's a reason why the average agent has barely three and one half years of experience... too many of them who get a license don't know how to make opportunities happen for them.

May 13, 2020 09:26 AM #16
Rainmaker
2,134,323
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good afternoon Nina Hollander - I hope that you see a quick rebound in Waxhaw, Wedding Mrvin market.

May 13, 2020 09:27 AM #17
Rainmaker
3,441,549
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Grant Schneider thanks, Grant... this is a market with lots of luxury homes where buyers need jumbo loans, which now are essentially non-existent. We'll see what happens.

May 13, 2020 09:38 AM #18
Rainmaker
1,366,293
Sheri Sperry - MCNE®
Coldwell Banker Realty - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

Hi Nina Hollander - You are doing your clients a great service by letting them know what the market conditions are like in Waxhaw and other communities during this time. Your clients know they can trust your knowledge to help them make the right decisions.

May 13, 2020 09:40 AM #19
Rainmaker
5,765,634
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

I hope you are having an outstanding week. Dolores and I are still staying at home in the social distancing mode.

May 13, 2020 10:13 AM #20
Rainmaker
3,441,549
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Sheri Sperry - MCNE® hi Sheri... whether we are in a pandemic or not... it's always all about communication. And I hate having my clients get their informatino from headlines.

May 13, 2020 10:56 AM #21
Rainmaker
3,441,549
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Roy Kelley thanks, Roy... my weeks seems to be passing with the speed of lightening. Then again, they all seem that way. How much longer do you think you'll be staying at home?

May 13, 2020 10:57 AM #22
Rainmaker
5,765,634
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

We plan to stay at home for the rest of this month. Beyond that, we are uncertain.

May 14, 2020 08:10 AM #23
Rainmaker
3,441,549
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Roy Kelley hi Roy... you might be the only people I know who've truly not left their homes!

May 14, 2020 09:22 AM #24
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
3,441,549

Nina Hollander

Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor
What real estate questions can I answer for you today?
*
*
*
*
Spam prevention

Additional Information