Latest news on the Waxhaw | Weddington | Marvin real estate markets in June 2021 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 tight inventory (dropping 71.3% year-over-year) in June 2021, accompanied by a drop in new listings of 19.3%, as well. This resulted in home prices increasing 26.9% year-over-year.
Average days on market decreased 24 days to 16 days year-over-year. Average days on market also decreased by 9 days month-over-month. Median days on market were 3 days in June, down 14 days year-over-year and down 15 days from two years ago.
Continued tight inventory and a months supply of homes of 0.7 months (a 2.3 month's drop from 3 months one year ago), kept the Waxhaw area a seller’s market in June 2021.
And you can see the demand for housing in the Waxhaw area based on showings per listing... on average, listed homes had 20.4 showings in June, up 85.5% from 11 one year ago and from 7.5 two years ago. This is clearly an example of more buyers "chasing" fewer listings.
With home sellers receiving a median 103.4% of list price in final sale price (up 5% year-over-year), there was virtually no room for home buyers to negotiate in June 2021.
Home sale prices increased 26.9%, on average, in June 2021 compared with the same month one year ago. The average sale price was $595,779. Month-over-month average sale prices increased almost $21,000. The median home sale price was $530,000, up 27.7% year-over-year. Month-over-month, median home sale prices in Waxhaw increased by about $30,000.
Price per square foot increased 23.6% to $178/square foot (up $34/square foot) in June 2021 versus the same month one year ago.
Closed sales increased 10.2% while pending sales decreased 29.4% in June 2021 compared with the same month one year ago. The decrease in pending sales can be attributed to lack of inventory and fewer new listings, which dropped 19.3% compared with June 2020.
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Waxhaw Area Housing Market Highlights
June 2021 Versus June 2020
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 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:
Read the original post at www.GreatHomesInCharlotte.com