Waxhaw Area Home Prices Increase 26.9% Year-Over-Year In June 2021

By
Real Estate Agent with Coldwell Banker Realty

 

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.

   

    Want to know what this would mean for your family if you decide to buy or sell a Waxhaw area home?

 

Curious About The Real Estate Market In Waxhaw?

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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

June 2021 Versus June 2020

  Waxhaw Area/28173 Zip Code Real Estate Report June 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."

 

 

 

Read the original post at www.GreatHomesInCharlotte.com

 

 

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
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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 (28)

Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Happy Monday Nina and thanks for the information on the tight inventory and the market report.  I agree with Brian England, you are pretty.

 

Jul 19, 2021 06:12 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Norma J. Elkins good morning, Norma... I'm awash in compliments this morning... what a great start to my day! Thank you.

Jul 19, 2021 06:19 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Bill Salvatore - YVP Blog good morning, Bill... I suspect we will continue to see price increases until we see real increases in inventory. Happy Monday to you.

Jul 19, 2021 06:20 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Grant Schneider good morning again, Grant... you boys are making my day today! Thank you! :)

Jul 19, 2021 06:20 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Raymond Henson, eXp Realty good morning, Ray... I suppose everyone has a different idea about how much is enough. For those who are paying PMI this might be a good time to refi with the increase in value and get rid of PMI.

Jul 19, 2021 06:22 AM
Raymond Henson, eXp Realty

I will second that!

Jul 19, 2021 08:25 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Will Hamm thank you, Will... all these compliments are totally making my morning today! Happy Monday to you.

Jul 19, 2021 06:22 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, great report for Waxhaw/Marvin/Weddington and another right market!  

Jul 19, 2021 06:45 AM
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Good Monday morning, Nina.

Take care, be safe and have a great day.

Jul 19, 2021 07:27 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Joan Cox hi Joan... the Waxhaw area is one of the prime areas of the Charlotte region... great location and top schools will keep its fundamentals strong regardless of market conditions.

Jul 19, 2021 10:05 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Roy Kelley thanks, Roy... it's crazy rainy here in Charlotte today. Hopefully we'll see some sun tomorrow.

Jul 19, 2021 10:05 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

Nina, Waxhaw home prices increasing, means sellers need to call you now so that they too can be another SOLD!

Jul 19, 2021 10:44 AM
Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

Hi Nina- it looks like the Waxhaw area is one you know well. Buyers and sellers should follow you for more local knowledge of the area. 

Jul 19, 2021 12:09 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400 hi Sheila... no argument from me... the problem is those sellers have no where to go!

Jul 19, 2021 12:57 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Kathy Streib hi Kathy... I've been selling in the Waxhaw area before many people knew how to spell it, much less find it! :)

Jul 19, 2021 12:57 PM
Sheri Sperry - MCNE®
Coldwell Banker Realty - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

Hi Nina Hollander, Broker - at more than a 26% increase in the Waxhaw area, buyers really need to get with you to map out their best course of action.  A home in my neighborhood in Sedona sold for $880K in October 2020 and is back on the market at $1.2m with no changes at all!  It is amazing what is happening out there. Buyers need the best and most experienced Realtors to serve their needs and you fit that bill. 

Jul 19, 2021 06:30 PM
Ed Silva
Mapleridge Realty, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

A 25% increase in value over a year is incredible, and yet a potential buyer would not balk at putting down that money to buy a house

Jul 19, 2021 07:13 PM
James Dray
Fathom Realty - Bentonville, AR
Exceptional Agents, Outstanding Results

Morning Nina.

After your last post, I was wondering what your next one would be, you did not disappoint

Jul 20, 2021 12:16 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Sheri Sperry - MCNE® good morning, Sheri... that is just C-R-A-Z-Y! Do you think that home will get over $1million?

Jul 20, 2021 03:17 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Ed Silva good morning, Ed... no doubt about that... the days on market, the list to sale price ratio, and the inventory tell the story... buyers are buying.

Jul 20, 2021 03:19 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

James Dray good morning, James... as I look at various areas of the Charlotte region it seems to be the same story everywhere.

Jul 20, 2021 03:20 AM