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 June 2023:
- Closed home sales increased a fourth consecutive month and were at their highest level of closed sales since September 2022.
- The list to sale price ratio was just over 101% at 101.51%.
- Median sale price increased 20.6% from May and 12.2% year-over-year.
- Average sale price increased 22.7% from May and 19.5% year-over-year.
- Average days on market increased to 26 days from May's 19 days. June's days on market were 10 days fewer than the year-to-date average for DOM in the Waxhaw area.
- Waxhaw housing inventory dropped to its lowest level since May 2022; new listings declined year-over-year and month-over-month.
WAXHAW AREA HOUSING MARKET HIGHLIGHTS
WAXHAW AREA MEDIAN & AVERAGE SALE PRICES AT THEIR HIGHEST LEVELS SINCE JUNE 2020
The median sale price in June 2023 was $770,000, 20.6% higher than the $638,500 median sale price in the previous month of May. Median sale price was 12.2% higher than $686,250 in June 2022. The median sale price in June 2023 was its highest compared with June 2022 and June 2021. The median sale price was also at its highest level since June 2020.
The average sale price in June 2023 was $905,740, up 22.69% from $738,228 in May 2023. The average sale price in June 2023 was 19.51% higher than $757,871 in June 2022. The average sale price in June 2023 was at its highest compared with June 2022 and June 2021. The average sale price was also at it highest level since June 2020.
Price per square foot was $238, up 4.85% from $227/square foot in May 2023 and 6.25% higher than $224 in June 2022. The price per square foot was at its highest level since June 2020.
WAXHAW AREA HOMES LIST TO SALE PRICE RATIO OVER 101%
The June 2023 sale to list price ratio was 101.51%, equal to the previous month of May and down from 104.02% in June 2022.
WAXHAW AREA HOMES' AVERAGE DAYS ON MARKET BELOW ONE MONTH
Average days on market in June 2023 were 26 days, increasing 7 days from 19 days in May. Compared with June 2022, average days on market increased 18 days from 8 days. The June 2023 days on market were at their highest level compared with June 2022 (8 days) and June 2021 (11 days).
WAXHAW AREA SALES INCREASED MONTH-OVER-MONTH A FOURTH CONSECUTIVE MONTH
Closed sales increased in June 2023 to 109, up 22.47% from 89 sold properties in May and down 21.01% from 138 sold properties in June 2022. The June 2023 sales were at their lowest level compared with June 2022 (138 sales) and June 2021 (189 sales). This was also the highest level of closed sales since September 2022.
WAXHAW AREA'S HOUSING INVENTORY AT ITS LOWEST LEVEL SINCE MAY 2022
Inventory of homes for sale in June 2023 stood at 338 properties, equal to the previous month of May. Inventory was 11.75% lower than in June 2022. Inventory was at its lowest level compared with June 2022 (383 properties for sale) and June 2021 (338 properties for sale). Waxhaw area's housing inventory in June 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 June 2023 was 110, decreasing 9.84% from 122 new listings in May. New listings were 32.93% lower than the 164 new listings in June 2022. The June 2023 listings were at their lowest level compared with June 2022 (164 new listings) and June 2021 (132 new listings).
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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...
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:
Read the original post at www.GreatHomesInCharlotte.com