Waxhaw's Somerset Homes Sold At 103.33% Of List Price: Quarter 2-2023

By
Real Estate Agent with Coldwell Banker Realty 179530

Somerset Neighborhood in Waxhaw, NC

Real Estate Report & Community Spotlight: Quarter 2 - 2023

List To Sale Price Ratio: 103.33% | Home Prices Up From Q1 - 2023

 

Although Somerset's average home sale price was down compared with Quarter 2-2022, the average sale price increased $68,000 from the First Quarter 2023. Median sale price was also down year-over-year, but $30,000 higher than in the First Quarter 2023.

List to sale price ratio of 103.33% in Quarter 2-2023 was 6% lower than in the same quarter one year ago, but was 4.19% higher than in Quarter 1-2023.

Continuing declines in the number of homes for sale in Somerset kept it a seller's market in Quarter 2-2023 despite an increase in days on market both year-over-year and quarter-over-quarter.

 

SOMERSET HOME SALES SNAPSHOT: QUARTER 2 - 2023

Somerset Neighborhood In Waxhaw Home Sales Snapshot Quarter 2-2023

 

SOMERSET HOME SALES SNAPSHOT: QUARTER 1 - 2023

Somerset Neighborhood In Waxhaw Housing Market Snapshot Quarter 1-2023

 

 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 close by. Ballantyne Village is quickly accessible. All the major medical practices in Charlotte, which maintain offices in Ballantyne, are but five minutes away. Also nearby are Trader Joe's, Ballantyne Country Club, Piper Glen Club, and horseback riding facilities in nearby Waxhaw. 

 

Somerset provides easy commuting to the Ballantyne Corporate Park, South Park, 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 within less than four miles of the neighborhood. 

  

Marvin Ridge High School is one of the top ranked high schools in the Charlotte region, ranked #1 out of the top 25 high schools for 2023, as it was in 2022. Marvin Ridge Middle School ranks as the #2 best public middle school in Union County and in the top 15 public middle schools in the Charlotte region. Rea View Elementary ranks in the top 20 public elementary schools in the Charlotte region out of 292 elementary public schools and is also ranked as the #2 best public elementary school in Union County. (Rankings by niche.com)

 

Do top schools make a difference when buying or selling a home? The answer is a YES! Find out why good schools matter when you’re buying or selling a home here.

 

  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?

 

 SEARCH 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 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
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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 (6)

Ed Silva, 203-206-0754
Mapleridge Realty, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

Even with the slight reduction in values, the overall increase since 2020 is over 32% appreciation in value. Sellers are happy and new buyers have to be ready to jump when the home comes on market.

Jul 07, 2023 05:50 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, looks like Waxhaw is holding its own, although bouncing around a bit.

Jul 07, 2023 05:53 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Ed Silva hi Ed... whether someone purchased in Somerset in 2020 or 2015 or 2010, they are sitting "pretty" right now.

Jul 07, 2023 06:04 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Joan Cox good morning, Joan. Waxhaw is more than holding its own these days... buyers are not having much success in finding homes to buy and then they come on market in the in-demand neighborhoods they are usually in a multiple offer situation.

Jul 07, 2023 06:05 AM
Roy Kelley
Retired - Gaithersburg, MD

This is a good report to share with home sellers and home buyers.

Jul 07, 2023 08:43 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Hi Roy... yes it is... and hopefully some of those home sellers and buyers are paying attention! Happy Friday to you!

Jul 07, 2023 09:48 AM