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Waxhaw's Somerset Homes Sold At 107+% Of List Price: Quarter 3-2023

By
Real Estate Agent with Coldwell Banker Realty 179530

Somerset Neighborhood in Waxhaw, NC

Real Estate Report & Community Spotlight: Quarter 3 - 2023

 

List To Sale Price Ratio: 107.27% | Days On Market Just 2 Days

Somerset home sales Q3-2023 saw average and median home sale prices increase 18% and 12%, respectively, compared with the same quarter one year ago. Home prices also increased significantly over Quarter 2-2023. The list to sale price ratio increased to 107.27%. Lack of inventory in Somerset kept it a seller's market in Quarter 3-2023 and was reflected in the average two days on market for listed homes.

 

SOMERSET HOME SALES SNAPSHOT: QUARTER 3 - 2023

Somerset neighborhood in Waxhaw, NC Home Sales Snapshot For Quarter 3-2023

 

SOMERSET HOME SALES SNAPSHOT: QUARTER 2 - 2023

Somerset neighborhood in Waxhaw, NC Home Sales Snapshot For Quarter 2-2023

 

SOMERSET HOME SALES SNAPSHOT: QUARTER 1 - 2023

Somerset neighborhood in Waxhaw, NC Home Sales Snapshot for 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, NCSomerset is a 200-acre master-planned community with some 457 homes 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. 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 20+ golf courses within 10 miles of Somerset and numerous parks for both humans and dogs!

 

Somerset neighborhood in Waxhaw, NC is close to all of life's necessities

 

 

Top-Rated Union County Schools 

Somerset neighborhood in Waxhaw, NC school assignmentsSomerset is served by some of the top Union County public schools: 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

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SEARCH SOMERSET HOMES FOR SALE 

 

WONDERING WHAT YOUR SOMERSET HOME IS WORTH IN TODAY'S MARKET?

 

What's My Somerset Home in Waxhaw, NC Worth?

 

 SEARCH WAXHAW, NC 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, I have the complete inventory list of homes for sale in Somerset and in Waxhaw. If you're selling, let's get together and discuss the supply conditions in Somerset and how I can assist you in gaining access to buyers who area ready, willing, and able to buy now.

And let me show you why experience matters and how:

"The Right Broker Makes All The Difference."

 

First published on 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
Search For All Charlotte Area Homes: 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.

 

Jeffrey DiMuria 321.223.6253 Waves Realty
Waves Realty - Melbourne, FL
Florida Space Coast Homes

107.27%

that is just crazy. When we have a shortage of folks putting homes on the market (for obvious reasons), we see this happen.

Oct 11, 2023 10:48 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, and you say your market isn't HOT!    Maybe Waxhaw is, due to its popularity.

Oct 11, 2023 11:33 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Real Estate Broker

Jeffrey DiMuria 321.223.6253 Waves Realty hi Jeff... I knew I'd get your attention with that 107+% list to sale price ratio! It is crazy, but the home prices were pretty crazy, too!

Oct 11, 2023 11:43 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Real Estate Broker

Joan Cox hi Joan... Somerset is on the border of Ballantyne and Marvin (in Union County). It's 5 minutes from everywhere! It has a Waxhaw address because when it was built, the closest post office was in Waxhaw. Top Marvin Ridge schools don't hurt.

Oct 11, 2023 11:44 AM
Bill Salvatore - East Valley
Arizona Elite Properties - Chandler, AZ
Realtor - 602-999-0952 / em: golfArizona@cox.net

107% growth.  Nice. Have a super fantastic week!

Bill Salvatore, Realtor- Arizona Elite Properties

Oct 11, 2023 12:03 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Real Estate Broker

Bill Salvatore - East Valley the growth wasn't 107%. That would be insane. The list to sale price ratio was 107+%. Then again, that's also pretty insane.

Oct 11, 2023 12:43 PM
Roy Kelley
Retired - Gaithersburg, MD

Families considering a move to the area will appreciate your excellent local area reports.

Oct 11, 2023 02:13 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Real Estate Broker

Thanks, Roy, as always for stopping by and leaving me a comment. Wishing you a good rest of the week.

Oct 11, 2023 02:17 PM
Patricia Feager, ABR,CRS,GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

Nina Hollander, Broker - I am always impressed with how well you explain market trends in your area. 

I wish you and your clients the best. 

Oct 11, 2023 08:10 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Two days on the market OMG that is like barely put it in the MLS and they broke the doors down:)Endre

Oct 11, 2023 10:38 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Real Estate Broker

Patricia Feager, MBA, CRS, GRI,MRP thank you so much, Patricia. That's something I learned in the corporate world... that you have to know your material so well you can explain it in 5 minutes.

Oct 12, 2023 04:05 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Real Estate Broker

Endre Barath, Jr. good morning, Endre... it's like the invading hordes! I had two listing recently which I sold...one had 43 showings in two days before we signed a contract... the other had 55 showings in two and half days before we signed a contract. It was insane. Cars up and down the streets at both homes for hours on end.

Oct 12, 2023 04:06 AM