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Waxhaw, Weddington, Marvin Home Sales Report: April 2023. What To Know

By
Real Estate Agent with Coldwell Banker Realty 179530

LATEST NEWS ON THE WAXHAW |  WEDDINGTON | MARVIN HOUSING MARKET...

WHAT YOU NEED TO KNOW...

WHAT IT MEANS FOR YOU...

 

Key "take-aways" about the Waxhaw area of the Charlotte, North Carolina metro area (the 28173 zip code–encompassing the three towns of Waxhaw, Marvin and Weddington) included the following in April 2023:

  • Closed home sales were at their highest level since September 2022.

  • The list to sale price ratio was just under 100% at 99.72%.

  • Both average and median sale prices increased month-over-month and year-over-year.

  • Average days on market were at their lowest since September 2022, decreasing 15 days to 26 days in April.

 

WAXHAW AREA HOUSING MARKET HIGHLIGHTS

APRIL 2023

Waxhaw (28173 Zip Code) Housing Market Snapshot April 2023

WAXHAW AREA MEDIAN & AVERAGE SALE PRICES INCREASE

The median sale price in April 2023 was $696,346, 9.7% higher than the $635,000 median sale price in the previous month of March. It was also 12.2% higher than $620,000 in April 2022. The median sale price in April 2023 was its highest compared with April 2022 and April 2021.

 

The average sale price in March 2023 was $863,219, up 19.1% from $724,860 in March 2023. The average sale price in April 2023 was 17.7% higher than $733,611 in April 2022. The average sale price in April 2023 was its highest compared with April 2022 and April 2021.

 

Price per square foot was $237, up 8.2% from $219/square foot in March 2023 and 10.23% higher than the $215/square foot in April 2022. The price per square foot in April 2023 was its highest compared with April 2022 and April 2021.

 

WAXHAW AREA HOMES LIST TO SALE PRICE RATIO JUST UNDER 100%

The April 2023 sale to list price ratio was 99.72%, equal to the previous month of March, but down from 104.67% in April 2022.

 

WAXHAW AREA HOMES SAW THEIR LOWEST DAYS ON MARKET SINCE SEPTEMBER 2023

Average days on market in April 2023 were 26 days, decreasing 15 days from 41 days in March. Compared with April 2022, average days on market increased 15 days from 11 days. The April 2023 days on market were at their highest level compared with April 2022 (11 days) and April 2021 (15 days). At 26 days on market in April, these were the lowest days on market since September 2022. 

 

WAXHAW AREA SALES INCREASED MONTH-OVER-MONTH

Closed sales increased in April 2023 to 82, up 3.8% from 79 sold properties in March and down 34.92% from 126 sold properties in April 2022. The April 2023 sales were at their lowest level compared with April 2022 (126 sales) and April 2021 (145 sales). This was also the highest level of closed sales since September 2022.

 

Foot traffic in listed properties was down significantly. Homes for sale in April had 7.8 showings, on average, compared with 12.3 showings one year ago. This was a 36.6% decrease in buyer foot traffic year-over-year. Month-over-month, foot traffic was down from 9.2 showings.

 

WAXHAW AREA'S HOUSING INVENTORY AT ITS LOWEST LEVEL SINCE MAY 2022

Inventory of homes for sale in April 2023 stood at 347 properties, down 3.9% from 361 properties in the previous month of March. Inventory was 8.44% higher than the 320 properties for sale in April 2022. Inventory was at its highest level compared with April 2022 (320 properties for sale) and slightly lower compared with April 2021 (328 properties for sale). Waxhaw area's housing inventory in April was at its lowest since May 2022 when the inventory stood at 334 properties for sale.

 

NEW LISTINGS DOWN YEAR-OVER-YEAR & MONTH-OVER-MONTH

The number of new listings in April 2023 was 87, down 6.5% from 93 new listings in March. New listings were 37.9% lower than the 140 new listings in April 2022. The April 2023 listings were at their lowest level compared with April 2022 (140 new listings) and April 2021 (173 new listings). 

 

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

Curious about the real estate market in Greater Charlotte?

We can help.

Call us today at 704-779-0813 or contact us here.

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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 5th best suburb to live in in Charlotte metro area and the 8th best suburb in North Carolina?

Marvin is ranked as the 3rd best suburb to live in in Charlotte metro area and the 7th best suburb in North Carolina?

Waxhaw is ranked as the 12th best suburb to live in in Charlotte metro area and the 20th best suburb in North Carolina?

  ... So why not check out...

 

 THE 10 HOTTEST SELLING NEIGHBORHOODS IN WAXHAW | WEDDINGTON | MARVIN

 

Hot Selling Neighborhoods In Waxhaw, NC

         

 SEARCH ALL WAXHAW | WEDDINGTON | MARVIN AREA HOMES

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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, Coldwell Banker Realty, Greater Charlotte  residential real experts and Waxhaw/Weddington/Marvin area specialist. I've been opening doors for Waxhaw area home buyers and sellers for 24+ 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
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.

 

Roy Kelley
Retired - Gaithersburg, MD

Good Tuesday afternoon, Nina.

Have a great day and a very productive week.

May 23, 2023 09:55 AM
Kathy Streib
Cypress, TX
Home Stager/Redesign

Hi Nina- Your market is still better than one would expect. Any interested buyers and sellers should still contact you for more information. 

May 23, 2023 10:16 AM
Sheri Sperry - MCNE®
Coldwell Banker Realty - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

Hi Nina,

Waxhaw homes are a good value and continually increasing their value.  Call Nina to close the deal!

May 23, 2023 11:07 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Bill Salvatore - East Valley thanks, Bill, for stopping by. No tacos for me, but I'm having  a terrific Tuesday nonetheless... and trust you are, as well.

May 23, 2023 12:15 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Brian England hi Brian... Waxhaw area is gorgeous and one of the more pricey parts of the region.

May 23, 2023 12:16 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Carol Williams hi Carol... to answer your question... I just make it happen. Very important part of my ability to represent my clients is keeping up with the market.

May 23, 2023 12:18 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Will Hamm hello Will... thanks for popping by. But not sure who Cassie is? 

May 23, 2023 12:18 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Jeffrey DiMuria 321.223.6253 Waves Realty hi Jeff... no doubt our market is a tad slower as is price appreciation... but that being said it's percolating along quite nicely on the whole.

May 23, 2023 12:19 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Thank you, Roy, for stopping by. I've got three closings to get through this week so it's lots of cat herding right now.

May 23, 2023 12:20 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Sheri Sperry - MCNE® hi Sheri... Waxhaw area is in huge demand and has been for a very long time. It feels like yesterday that I used to take my "budget" buyers to Waxhaw!

May 23, 2023 12:21 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Kathy Streib hi Kathy... we are so short on inventory in terms of new listings... no wonder our markets are hopping.

May 23, 2023 12:22 PM
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 market update for Waxhaw/Weddington/Marvin, and looks like again this area is holding its own.

May 23, 2023 12:54 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Joan Cox thanks, Joan... you have no idea how hard it is to find a home in the Waxhaw area these days.

May 23, 2023 01:11 PM
Joan Cox

Nina Hollander, Broker did you find homes for all your buyers?

May 23, 2023 01:12 PM
Nina Hollander, Broker

Joan Cox do you hear me laughing my you know what off in my office right now????

May 23, 2023 01:45 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Wayne Martin hi Wayne... these days I'm much happier assisting sellers than buyers! So hard for buyers in our market and not just in the lower price points.

May 23, 2023 01:46 PM
Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

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

May 23, 2023 07:27 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Nina all I can say is when I see 26 days on the market that was like last year for us here In Los Angeles, hence this proves my point we lead the country six months to a year ahead of the market... Endre

May 23, 2023 10:34 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Myrl Jeffcoat good morning and thank you Myrl for stopping by. Hope you've been having a good week so far.

May 24, 2023 03:44 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Endre Barath, Jr. good morning, Endre... you might be right and you might be wrong. Charlotte region markets are so different right now from California in terms of migration in, lack of listings, price points, etc. While the market has moderated we still have fewer new listings than demand for them.

May 24, 2023 03:45 AM
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

Based on your report, I would venture the opinion that the Waxhaw area is a preferred destination for buyers and the market is strong for sellers.

May 28, 2023 10:21 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

John Juarez The Waxhaw area is one of the most expensive areas in the Charlotte region. It is close to Charlotte, beautiful estate homes, some of the best schools in the region.

May 28, 2023 11:04 AM