Waxhaw/Weddington/Marvin Home Prices Up 26.4% Y-O-Y In December 2021

By
Real Estate Agent with Coldwell Banker Realty

Latest news on the Waxhaw | Weddington | Marvin real estate markets in December 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) saw continued declines in inventory, declines in pending and closed sales, declines in new listings, declines in days on market in December 2021 versus December 2020. The only thing that increased were home prices, which increased year-over-year and were the highest prices seen in Waxhaw history. Lack of inventory is certainly impacting sales volume and home prices in the 28173 zip code.

 

 Waxhaw Area Housing Market Highlights

December 2021 Versus December 2020

Waxhaw, Weddington, Marvin NC Housing Market Update For December 2021

 

Average days on market decreased 23 days (down 43.4%) to 30 days year-over-year. Average days on market were down 33 days compared with December 2019.  Median days on market were 5 days in December, down 14 days year-over-year and down 21 days from two years ago in December. December 2021 saw the lowest average and median days on market in Waxhaw's history.

 

Continued tight inventory and a months supply of homes of 0.7 months (a 0.6 month's drop from 1.3 months one year ago and a 2.4 month's drop from 3.1 months in December 2019), kept the Waxhaw area a home seller’s market in December 2021. New construction inventory, down almost 70% year-over-year and long a staple of Waxhaw's housing market, remained at some of its lowest levels in 15+ years, contributing to the lack of inventory and low months supply of homes in December 2021.

 

With home sellers receiving a median 100.9% of list price in final sale price, there was virtually no room for home buyers to negotiate in December 2021. 

 

One indicator of demand for homes is the number of showings per listed property. In December 2021, the average Waxhaw area home had 12.3 showings compared with 7.9 showings in 2020 and 5.1 showings in 2019. When showings per home increase 55.7% year-over-year, it's very much a case of more buyers chasing fewer listings.

 

Home sale prices increased 26.4%, on average, in December 2021 compared with the same month one year ago. The average sale price was $638,147. The median home sale price was $555,000, up 39.4% year-over-year. Average home prices in December 2021 were almost $155,000 higher than in December 2019. Median home sale prices were about $140,000 higher in December 2021 than in December 2019.

 

Price per square foot increased 22.9% to $203/square foot in December 2021 versus the same month one year ago. The $203 average price per square foot in December 2021 was the highest average price per square foot in Waxhaw's history.

 

Closed sales decreased 25.3% while pending sales decreased 40% in December 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 40.6% compared with December 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 

                   

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

         

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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 Greater Charlotte 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
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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 (30)

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

Good Morning Nina and thanks for keeping us updated on what is happening in your area.  Hope you are doing good.

 

Jan 12, 2022 08:37 AM
Rocky Dickerson
Realty One Group - Las Vegas, NV
Superior Service!

That marketplace sure is cooking. A lot of activity for sure

Jan 12, 2022 11:22 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

The market is hot Nina with housing prices taking a giant leap upwards in Waxhaw/Weddington/Marvin. That's real good news for sellers!

Jan 12, 2022 11:35 AM
Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

Hi Nina- the graph says it all! What a hot market!

Jan 12, 2022 11:37 AM
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Nina,

OH! LA! LA!  What a graph illustrating your market and the trends upwards continuing..  A

Jan 12, 2022 02:47 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Will Hamm thanks, Will, for popping by. I'm doing well... no complaints. Trust you are, as well.

Jan 12, 2022 02:55 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Rocky Dickerson hi Rocky... the market is just bonkers! Will be interesting to see the impact of increased interest rates on demand.

Jan 12, 2022 02:55 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400 hi Sheila... the Waxhaw area market is just so, so hot. Can't find anything for my buyer clients regardless of price point.

Jan 12, 2022 02:56 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Kathy Streib hi Kathy... Waxhaw area is not slowing down by any means. So many frustrated buyers out there right now.

Jan 12, 2022 02:57 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Ron and Alexandra Seigel thanks, Alexandra. I've had that chart in all my monthly reports... I just moved it higher up in the post.

Jan 12, 2022 02:58 PM
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Nina the increase in property values continue to validate real estate is a solid investment with a very high rate of return.

Jan 12, 2022 03:20 PM
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

As always, You are so thorough Nina. You made my Wednesday wonderful 🙂 

Jan 12, 2022 09:18 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Nina I can not pronounce it not alone spell it one thing is sure  the values are moving up in this market, Endre

Jan 12, 2022 10:18 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

George Souto good morning, George... no matter how you slice it, if you look back on investment returns since the 1950's, real estate has always proven to be the best investment from a long term perspective.

Jan 13, 2022 04:15 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Paul S. Henderson, REALTOR®, CRS well... if that's all it takes to make your day, Paul... happy to oblige! :) Happy Thursday to you.

Jan 13, 2022 04:16 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Endre Barath, Jr. good morning, Endre... the level of price appreciation in many of our areas in the Charlotte region in December has been totally mind-boggling.

Jan 13, 2022 04:16 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, back to the very high price increases, and nice market update for Waxhaw, Weddington and Marvin.

Jan 13, 2022 06:58 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Joan Cox thanks, Joan... hard to imagine these kinds of price increases can continue ad infinitum.

Jan 13, 2022 07:10 AM
Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

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

Jan 15, 2022 06:36 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Myrl Jeffcoat good Sunday morning, Myrl... I expect you are having a much better day than we are, where we are living through an ice storm and hoping we don't lose power.

Jan 16, 2022 05:51 AM