Waxhaw | Weddington | Marvin Housing Market Report: March 2021

By
Real Estate Agent with Coldwell Banker Realty

Latest news on the Waxhaw area (28173 zip code) real estate market in March and what it means for you...  

 

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 extremely tight inventory (dropping 74.3% year-over-year) in March 2021, coupled with a 30.1% decrease in new listings year-over-year.

 

Average days on market decreased 17 days to 42 days year-over-year. Days on market also decreased 26 days versus February 2021. Median days on market were 4 days in March, down 8 days year-over-year and down 22 days month-over-month. 

 

Continued tight inventory and a months supply of homes of 0.7 months (a 2.8 month's drop from 3.5 months one year ago), kept the Waxhaw area a seller’s market. 

 

With home sellers receiving a median 100% of list price (up 1.3% year-over-year) there was less room for home buyers to negotiate in March 2021 than in the same month the previous year. And with half of the homes sold selling at 100% of asking price or more, there was no negotiating room at all.

 

Home sale prices (median [$415,000] and average [$529,940]) in March increased 36.9%, on average, and increased 17.3% for median home prices year-over-year.

 

Price per square foot increased 20.6% to $164/square foot (up $28/square foot) in March versus the same month one year ago. 

 

Closed sales increased 22.6% while pending sales increased 4.3% in March 2021 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.

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MORE INFORMATION ABOUT THE WAXHAW HOUSING MARKET'S PERFORMANCE

 

MORE INFOMATION ABOUT THE WEDDINGTON HOUSING MARKET'S PERFORMANCE

 

MORE INFORMATION ABOUT THE MARVIN HOUSING MARKET'S PERFORMANCE 

   

Waxhaw Area Housing Market Highlights:

March 2021 versus March 2020

Waxhaw, Marvin, Weddington Home Sales Snapshot March 2021

   

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 12 HOTTEST SELLING NEIGHBORHOODS IN THE WAXHAW AREA

 

Hot Waxhaw Area Neighborhoods

             

 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?

What's My Waxhaw Area Home 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 Greater Charlotte 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."

 

Posted by

 

 

 

 Nina Hollander, RE/MAX Broker, Realtor

 

 

 

 

 

 

 

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 The Greater Charlotte Area
Search For All Charlotte Area Homes: www.GreatHomesInCharlotte.com 

Charlotte Magazine 5-Star Customer Satisfaction Award Winner Since 2007

 

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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.

 

Comments (22)

Bill Salvatore - YVP Blog
Arizona Elite Properties - Chandler, AZ
Realtor - Valley of the Sun / golfArizona@cox.net

Nina,

Great imformationa blog, with a BIG jump in cost per square foot (+$28.00). Make it the BEST Wednesday, and thanks agaain for posting this wonderful Blog.  Bill Salvatore

Apr 28, 2021 06:28 AM
Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Condo and Home Specialists

Knowing all these dfferent markets is not easy, but Nina Hollander knows the areas and knows the market stats. She's the one to be working with in Waxhaw/Weddington and Marvin!

Apr 28, 2021 06:46 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Nina, just amazing to continue to see the inventory is still 74% down over last year!   

Apr 28, 2021 06:49 AM
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Hi Nina - this is a continued strong market but fueled by solid demand.

Apr 28, 2021 07:03 AM
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Nina,

At some point in time things will change, and the pendulum will swing.  It always does.  Wishing you a great day.  A

Apr 28, 2021 07:13 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Hi Brian... that extreme lack of inventory is driving extreme increases in home prices.

Apr 28, 2021 09:34 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Thanks much, Rocky, for stopping by today... trust you are having an excellent day.

Apr 28, 2021 09:35 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Hi Bill... our Waxhaw market has been hot for years... but this past year has been insane. Happy Wednesday to you.

Apr 28, 2021 09:36 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Hi Sheila... I have to follow a pretty broad market, pretty much like you and Larry do.

Apr 28, 2021 09:36 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Hi Joan... and I see nothing on the horizon that will stop that continuing decrease in inventory levels.

Apr 28, 2021 09:37 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Hi Grant... no doubt about it... the demand is there... big time! A very tough market for home buyers in any price range.

Apr 28, 2021 09:38 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Hi Alexandra... no doubt the pendulum will swing... the question is when. We've been running short on inventory for over five years and this past year has been the worst I've ever seen it. I see little to no change at least for the rest of this year. (I'd like to be wrong in this case.)

Apr 28, 2021 09:39 AM
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Nina,  Listings are gold in our area right now because of the low inventory.  Thanks for your report.

 

Apr 28, 2021 09:53 AM
Sharon Tara
Sharon Tara Transformations - Portsmouth, NH
New Hampshire Home Stager

Great market report, Nina! You do such a good job!

Apr 28, 2021 09:56 AM
Ed Silva
Mapleridge Realty, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

Basic rules of economics at play. Shortage on inventory means prices go up.

Apr 28, 2021 09:59 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Hi Will... listings in my area are as scarce as hen's teeth these days.

Apr 28, 2021 11:44 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Hi Sharon... thank you and thank you! Always nice to get an "atta girl."
"

Apr 28, 2021 11:44 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

HI Ed... and that's the reason I keep telling people we are not in the type of bubble we saw prior to the great recession... back then we didn't have an inventory shortage.

Apr 28, 2021 11:45 AM
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

Wahaw - Weddington - Marvin home buyers and sellers are sure to value your real estate market report, Nina.

Apr 29, 2021 12:57 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Good morning again, Myrl... and again, thanks for checking in. I so appreciate it.

Apr 29, 2021 04:40 AM