Waxhaw Area Real Estate Report: March 2020
It’s still tight inventory in the Waxhaw area, encompassing the towns of Waxhaw, Weddington, and Marvin in the 28173 zip code. New construction inventory was significantly down (35%) in March 2020. Resale inventory was also significantly down (22.5%) in March year-over-year. Both average and median home sale prices decreased in February year-over-year, as did closed and pending sales. Days on market were sharply down.
Waxhaw Area Real Estate Report: March 2020
Latest news on the Waxhaw area real estate market and what it means for you…
Waxhaw area (28173 zip code) real estate report for March 2020. The Waxhaw area of the Charlotte, North Carolina metro area (28173 zip code–encompassing the three towns of Waxhaw, Marvin and Weddington) continued to see tight inventory (dropping 24.4% year-over-year). New listings increased slightly by 4.1% year-over-year in March.
Average days on market decreased 13 days to 57 days year-over-year and decreased 24 days month-over-month. Median days on market were 13 days in March, down 14 days year-over-year and down 28 days month-over-month.
Continued tight inventory and a months supply of homes of 3 months (a 1.2 month’s drop from 4.2 months one year ago), kept the Waxhaw area a seller’s market. Resale inventory dropped in March 22.5%; new construction inventory dropped 35%.
With home sellers receiving 98.4% of list price (up 1% year-over-year) there was less room for home buyers to negotiate in March 2020 than in the previous year and the previous month.
Home sale prices (median [$351,835] and average [$385,078]) in March decreased 7.4% on average and 5.9% for median home prices year-over-year. Price per square foot increased 2.3% to $136/square foot (up $3/square foot) in March versus the same month one year ago. The average price of new construction homes sold in March was approximately $90,000 higher than for resale homes. In fact, new construction home sale prices increased 19.9% on average.
Closed sales decreased 7.7% and pending sales increased 9.1% in March 2020 compared with the same month one year ago.
Want to know what this would mean for your family if you decide to buy or sell a Waxhaw area home?
We can help.
Call us today at 704-779-0813 or contact us here.
There’s absolutely NO OBLIGATION. A consultation with Carolinas Realty Partners is FREE.
Waxhaw Area Housing Market Highlights: March 2020 vs March 2019
Median Home Price Trends In Waxhaw Area
Find Your Waxhaw Area Dream Home
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?
FIND OUT MORE ABOUT THE WAXHAW | WEDDINGTON | MARVIN AREAS AND WHY PEOPLE LOVE LIVING THERE
… So why not check out…
13 HOTTEST SELLING NEIGHBORHOODS IN THE WAXHAW AREA
It’s easy to find your Waxhaw | Weddington | Marvin dream home at GreatHomesInCharlotte.com.
And don’t miss out on the newest home listings in the Waxhaw area. Sign up to receive email notification of homes as soon as they come on the market. You can customize your search to your specific needs and always be the first to know what’s coming on the market in Waxhaw, Weddington, and Marvin.
FREE Home Buyer Guide: “Things To Consider When Buying A Home”
What’s Your Waxhaw Area Home Worth?
Wondering what your Waxhaw, Weddington or Marvin home is worth in today’s market? Find out by clicking on the picture below.
If you’re thinking about selling your Waxhaw area home, let’s get together and discuss the supply conditions in your neighborhood and how we can assist you in gaining access to buyers who area ready, willing, and able to buy now.
Contact us if you’d like to receive our Neighborhood Analyzer Report on a monthly basis so you can keep track of home sales activity in your neighborhood.
We’re happy to provide this information with no obligation on your part.
FREE Home Seller Guide: “Things To Consider When Selling Your House”
THINKING OF SELLING YOUR HOME? CHECK OUT THE COLDWELL BANKER MARKETING ADVANTAGE
Previous Waxhaw Area Housing Market Updates
Waxhaw/Weddington/Marving Housing Market Update: February 2020
Waxhaw/Weddington/Marvin Housing Market Update: January 2020
Waxhaw/Weddington/Marvin Housing Market Update: December 2019
Waxhaw/Weddington/Marvin Housing Market Update: November 2019
Waxhaw/Weddington/Marvin Housing Market Update: October 2019
Waxhaw/Weddington/Marvin Housing Market Update: September 2019
Waxhaw/Weddington/Marvin Housing Market Update: August 2019
Waxhaw/Weddington/Marvin Housing Market Update: July 2019
Waxhaw/Weddington/Marvin Housing Market Update: June 2019
Waxhaw/Weddington/Marvin Housing Market Update: May 2019
Waxhaw/Weddington/Marvin Housing Market Update: April 2019
Waxhaw/Weddington/Marvin Housing Market Update: March 2019
Whether You’re Buying Or Selling A Waxhaw Area Home…
… The Right Broker Makes All The Difference!
This Charlotte, North Carolina real estate monthly update for Waxhaw, Weddington, and Marvin is provided by Nina Hollander and Carolinas Realty Partners with Coldwell Banker Residential Brokerage, your Waxhaw area specialists and Charlotte metro area residential real estate experts. 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 Charlotte metro area, I’d love an opportunity to earn your business, to exceed your expectations, and to show you how:
“The Right Broker Makes All The Difference.”
