Waxhaw Area Homes Sold Quickly In August 2021: In 14 Days On Average

By
Real Estate Agent with Coldwell Banker Realty

 

Latest news on the Waxhaw | Weddington | Marvin real estate markets in August 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, Weddington and Marvin) continued to see tight inventory (dropping 57.6% year-over-year) in August 2021, accompanied by a drop in new listings of 20.2%.

 

Average days on market decreased 24 days (down 63.2%) to 14 days year-over-year.  Median days on market were 3 days in August, down 8 days year-over-year and down 20 days from two years ago.

 

Continued tight inventory and a months supply of homes of 0.9 months (a 1.4 month's drop from 2.3 months one year ago and a 3.2 one month's drop from 4.1 months in 2019), kept the Waxhaw area a home seller’s market in August 2021. New construction inventory, long a staple of Waxhaw's housing market, was at it's lowest level in 15+ years, contributing to the lack of inventory and low months supply of homes in August 2021.

 

With home sellers receiving a median 101.2% of list price in final sale price (up 1.8% year-over-year), there was virtually no room for home buyers to negotiate in August 2021. 

 

Home sale prices increased 22.0%, on average, in August 2021 compared with the same month one year ago. The average sale price was $640,288. Month-over-month average sale prices increased almost $11,000. The median home sale price was $550,000, up 22.2% year-over-year. Compared with August 2019, average home sale prices are up about $145,000, while median home sale prices are about $100,000 higher.

 

Price per square foot increased 27.0% to $194/square foot (up $42/square foot) in August 2021 versus the same month one year ago. The $194 average price per square foot is a new record high for Waxhaw homes.

 

Closed sales decreased 21.2% while pending sales decreased 35.4% in August 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 20.2% compared with August 2020.

 

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

 

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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

August 2021 Versus August 2020

 

  Waxhaw (28173 Zip Code) Housing Market Report August 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?

Waxhaw 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 why experience matters and 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
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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 (32)

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

Joan Cox hi Joan... so many areas of the Charlotte region are still seeing average days on market of barely two weeks. As for median days, many don't even see a week.

Sep 20, 2021 06:47 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Ron and Alexandra Seigel hi Alexandra... Waxhaw is one of my favorite places to sell... I do a big percentage of my sales in this area... have a listing there now, one closing next week, another sale closing this week.

Sep 20, 2021 06:48 AM
Jeffrey DiMuria 321.223.6253 Waves Realty
Waves Realty - Melbourne, FL
Florida Space Coast Homes

Nina, our inventory is very tight, but actually up a bit from May. Rental inventory goes like this...when someone calls me on a rental I say "do you think you work close enough to commute from Orlando?" (because you are not likely going to find anything here)

Sep 20, 2021 07:24 AM
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Families on the move will love your outstanding local real estate reports.

Sep 20, 2021 08:27 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Jeffrey DiMuria 321.223.6253 Waves Realty hi Jeffrey... our inventory overall is also up slightly, but still not enough to make a dent in the inventory shortage that's meaningful. I don't handle rentals, but I am hearing from people who do that we've been seeing bidding wars on them in the top school districts.

Sep 20, 2021 08:56 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Roy Kelley good morning, Roy... thanks, as always for taking the time to stop by. Trust your week has gotten off to a great start.

Sep 20, 2021 08:57 AM
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Hi Nina - in this market the hardest thing may be telling sellers that their home must look its best and be show ready.

Sep 20, 2021 09:28 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Grant Schneider hi Grant... I have to admit, I haven't had all that much resistance from sellers, which is a good thing. Because even in a hot market a house has to be show ready.

Sep 20, 2021 01:25 PM
Ed Silva
Mapleridge Realty, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

Nina, that is a tight market and median price and days on market being so low, it is a buyer's nightmare to find a home there.

Sep 20, 2021 02:48 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Ed Silva hi Ed... Waxhaw is a tough market, especially for the "budget buyer" these days.

Sep 20, 2021 03:06 PM
Sheri Sperry - MCNE®
Coldwell Banker Realty - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

Hi Nina Hollander, Broker - I am sure that if you do not see a Waxhaw home as it hits the market, the seller will have probably have an excepted offer quicker than you can react.

Sep 20, 2021 04:52 PM
Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

Hi Nina- I continue to be amazed at how tight your market is...and yet if there is a home to be sold, you would have it listed. 

Sep 20, 2021 05:41 PM
Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

Hi Nina,

Thank you for sharing this real estate market report.  Buyers and sellers in your area will benefit from this report. 

Wishing you continued success.

Bob

Sep 20, 2021 06:37 PM
James Dray
Fathom Realty - Bentonville, AR
Exceptional Agents, Outstanding Results

Morning Nina

Not bad, not bad at all.  Frankly, I haven't looked to see what average it is in our area

Sep 21, 2021 12:28 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Sheri Sperry - MCNE® hi Sheri... on the whole, Waxhaw buyers can't fiddle-faddle around making up their minds about a house.

Sep 21, 2021 04:39 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Kathy Streib hi Kathy... when you have month after month after month of inventory below one month, you know it's a tight, tight market.

Sep 21, 2021 04:40 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Bob Crane thanks, Bob... for popping by and the nice comment. Trust your week got off to a great start and will only get better as the days go by.

Sep 21, 2021 04:41 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

James Dray good morning, James. The average days on market are low and woth paying attentio to, but the median days are mind-blowing.

Sep 21, 2021 04:42 AM
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

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

Sep 21, 2021 06:22 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Myrl Jeffcoat good morning, Myrl... thanks for popping by. Wishing you a lovely Wednesday!

Sep 22, 2021 03:55 AM