Somerset In Waxhaw Average Home Sale Prices Up 19.74% In Q2 - 2021

By
Real Estate Agent with Coldwell Banker Realty

 

Somerset Neighborhood in Waxhaw, NC

Real Estate Report & Community Spotlight

 Quarter 2 - 2021

 

During the 2nd Quarter of 2021, 12 homes sold in the Somerset neighborhood; nine more than in the same quarter of the previous year. New listings were flat year-over-year with 12 new listings in each of the second quarters.

 

Median listing and sale prices increased versus the first quarter of 2020.  Average selling price was $533,433. The median sale price in Somerset was $530,00. Average home prices increased approximately $114,000 over the first quarter 2021; median home sale prices increased about $124,000 over the first quarter 2021.

 

Sellers received 106.8% of listing price in final sale price, on average, and 107.4% on a median basis.

 

Average days on market were 12 days, down 4 days from the same time frame one year ago. Median days on market were just three days.

 

At quarter-end, no homes were listed for sale and no homes were under contract.

 

Somerset Home Sale Snapshot: Quarter 2 -2021

 

 Somerset Neighborhood In Waxhaw Real Estate Report Quarter 2-2021

   

Detailed report on Somerset neighborhood home sales in the 2nd Quarter 2021.

 

 To track sales in Somerset "real time," click here for our Neighborhood Analyzer Report and sign up to automatically receive reports on Somerset sales activity.

 

Median Sale Price History For Homes In Somerset

 

 

 

 

Why Somerset Is An In-Demand Waxhaw Neighborhood

 

Somerset Neighborhood In Waxhaw ClubhouseSomerset is a 200-acre master-planned community situated on the border of Mecklenburg and Union Counties, minutes from Ballantyne and surrounded by some of Charlotte/Waxhaw area's most prestigious and upscale neighborhoods, including Hunter Oaks, Providence Country Club, Longview, and Marvin Creek. Outstanding community amenities in Somerset include a pool, clubhouse, tennis courts, play ground, and walking trails.

 

The Somerset community was developed between 1998 and 2003 by St Lawrence Homes, D R Horton, Fortis, and Ryland. The homes in Somerset range in size from about 1,990 square feet to over 4,500 square feet with average square footage just under 3,000. Lot sizes average about .3 of an acre but can also range from .2 of an acre to over half an acre.

 

Somerset is located minutes from Charlotte's trendy and popular Ballantyne area. All the shopping you could want is literally just minutes away along Rea Road or Providence Road,  including three, large outdoor shopping centers (Blakeney, Waverly and Stonecrest) offering grocery shopping, high-end boutiques, spas, casual and fine dining restaurants, movie theatres, and more. Carolina Place Mall and Carolinas Medical Center/Pineville are clse by. Ballantyne Village, the world-class Ballantyne Resort and Spa are all also quickly accessible. All the major medical practices in Charlotte, which maintain offices in Ballantyne, are but five minutes down the road. Also nearby are Trader Joe's, Ballantyne Country Club, Piper Glen Club, horseback riding facilities in nearby Waxhaw. 

 

Somerset provides easy commuting to the Ballantyne Corporate Park, SouthPark, Matthews, Charlotte-Douglas Airport, as well as easy access to I-485 and primary local roads.

 

All of life life's necessities are within easy reach of Somerset in less than a mile. And if you love the "great outdoors" and/or golf, there are 23 golf courses within 10 miles of Somerset and numerous parks for both humans and dogs!

 

Somerset Neighborhood in Waxhaw is convenient to all the necessities of life  Somerset neighborhood in Waxhaw is close to parks and golf

 

 

Top-rated Union County Schools Serve the Somerset Neighborhood in WaxhawTop-Rated Union County Schools 

 

Somerset is served by some of the top Union County public schools in: Marvin Ridge High School, Marvin Ridge Middle School, and Rea View Elementary School, all located witin less than four miles of the neighborhood. (Union County Public School system is ranked by niche.com as the 3rd best school district in the State of North Carolina.)

  

Marvin Ridge High School is one of the top ranked high schools in the Charlotte region, ranked #2 out of the top 25 high schools. Marvin Ridge Middle School ranks in the top 15 middle schools in the Charlotte region. Rea View Elementary ranks in the top 25 elementary schools in the Charlotte region.) School rankings provided by niche.com.)

 

  GET UPDATES ON SOMERSET HOME SALES ACTIVITY

 

Free home listing alerts from www.GreatHomesInCharlotte.com

 

SEARCH ALL SOMERSET HOMES FOR SALE 

 

WONDERING WHAT YOUR SOMERST HOME IS WORTH IN TODAY'S MARKET?

 

 

What's Your Somerset Home In Waxhaw NC Worth?

 

THINKING ABOUT SELLING YOUR HOME? SEE WHAT THE COLDWELL BANKER MARKETING ADVANTAGE IS ALL ABOUT.

 

 SEARCH ALL WAXHAW, NC AREA HOMES FOR SALE

 

Search Waxhaw Area Homes For Sale

 

 

 If you're considering purchasing or selling a home in Somerset, contact Nina Hollander/Carolinas Realty Partners with Coldwell Banker Realty. If you're buying, we have the complete inventory list of homes for sale in Somerset. If you're selling, let's get together and discuss the supply conditions in Somerset and how we can assist you in gaining access to buyers who area ready, willing, and able to buy now.

And let us show you why experience matters and how:

"The Right Broker Makes All The Difference."

Great Homes In Charlotte

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 (22)

Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Bill Salvatore - YVP Blog hi Bill... you really have to wonder when more inventory will start dampening these insane price increases.

Aug 01, 2021 06:07 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Wayne Martin hi Wayne... at the end of the day, everything cycles... and I'm certain the Chicago condo market will rise up again one day.

Aug 01, 2021 06:07 AM
Eric Bouler
Gardner Realtors, Licensed in La. - New Orleans, LA
Listening to your Needs

Lots of details. Great Blog for first day in August....

Aug 01, 2021 06:43 AM
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Nina,

Happy Sunday and Happy August 1st.  Another one of your great reports on the Waxhaw market.  Cheers, A

Aug 01, 2021 06:48 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

Somerset Neighborhood in Waxhaw, NC has a strong Real Estate market. Buyers and sellers, by calling Nina Hollander, you wil realize her experience matters!

Aug 01, 2021 07:23 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, isn't it amazing when the stats show over 106% to sellers, just jaw-dropping.   One has to think, it can't continue, but it does.

Aug 01, 2021 08:59 AM
Rocky Dickerson
Realty One Group - Las Vegas, NV
Superior Service!

Good morning Nina! Wow it looks like you are keeping that market hot and moving fast

Aug 01, 2021 09:01 AM
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Nina, interesting always to see day on market and what homes are selling over list price.  Make it a great day!

 

Aug 01, 2021 09:02 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Eric Bouler hi Eric... thanks. Afterall, what's a market report without some meaty details? Happy Sunday!

Aug 01, 2021 09:19 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Ron and Alexandra Seigel thanks, Alexandra... I admit to often being more than a little surprised myself by what I discover in sales trends in some of our neighborhoods.

Aug 01, 2021 09:20 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400 hi Sheila... Somerset is a lovely neighborhood and people love living there. I've sold there for many years and now I actually have two clients who live next door to each other.

Aug 01, 2021 09:21 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Joan Cox hi Joan... it is jaw dropping and I put a listing in contract this weekend that sold over $50K over list price and the buyer waived the appraisal.

Aug 01, 2021 09:22 AM
Joan Cox

No slowing down in Charlotte for sure!    Congrats on the quick offer, and really good offer! 

Aug 01, 2021 09:26 AM
Nina Hollander, Broker

Joan Cox Thanks, Joan!

Aug 01, 2021 11:43 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Rocky Dickerson hi Rocky... certainly can't take all the credit for the fast moving Charlotte market (but I'd like to!). 😉

Aug 01, 2021 09:22 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Will Hamm hi Will... some of the numbers in certain of our neighborhoods are totally eye-popping these days! Thanks for stopping by today.

Aug 01, 2021 09:23 AM
Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

Hi Nina- once again another very thorough market report about Somerset in Waxhaw!!!  

Aug 01, 2021 10:47 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Kathy Streib hi Kathy... it must be the German in me... I like things complete, neat and orderly! :)

Aug 01, 2021 11:44 AM
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

Somerset in Waxhaw home buyers and sellers are sure to value your real estate market report, Nina.

Aug 01, 2021 03:34 PM
James Dray
Fathom Realty - Bentonville, AR
Exceptional Agents, Outstanding Results

Morning Nina.

Sounds like your area and mine are almost alike, almost that is.

Aug 02, 2021 01:00 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Myrl Jeffcoat good Monday morning, Myrl. Thanks for the pop-by... wishing you lovely day ahead.

Aug 02, 2021 04:09 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

James Dray good morning, James... I suspect that many of our areas are closely tracking in terms of home sales and inventory.

Aug 02, 2021 04:09 AM