Charlotte Region Real Estate: December 2022

Charlotte Region Housing Market Snapshot For December 2022

Charlotte Region real estate in December 2022 saw home sales drop 37.7% year-over-year, while home prices increased 7.3%, on average. Sales dropped for a 12th consecutive month due to higher home prices, increasing interest rates, and fewer new listings. Homes sold in 41 days, on average. The months supply of homes, while increasing, remained below two months at 1.6 months, keeping Charlotte in “home seller territory.” Home affordability continues to suffer.

Waxhaw Real Estate Report: December 2022

Waxhaw, Weddington, Marvin (28173 Zip Code) Housing Market Update December 2023

Waxhaw area real estate market in December saw a 12th consecutive month of lower closed sales, indicating buyers are taking a step back, due to a combination of higher home prices and interest rates. Days on market also increased. Nonetheless, the months supply of inventory remained in seller “territory” at 1.5 months in December 2022, new listings were down, and home prices were up.

Charlotte Region Real Estate: November 2022

Housing Market Overview For The Charlotte Region November 2022

Charlotte Region real estate in November 2022 saw home sales drop 35.9% year-over-year, while home prices increased 8.6%, on average. Sales dropped for an 11th consecutive month due to higher home prices, increasing interest rates, and fewer new listings. Homes sold in 34 days, on average. The months supply of homes, while increasing, remained below two months, keeping Charlotte in “home seller territory.” Home affordability is suffering.

Waxhaw Real Estate Report: November 2022

Waxhaw, Weddington, Marving Home Sales Update November 2022

Waxhaw area real estate market showed signs of continued cooling in November, despite an increase in average home prices. Waxhaw also saw an 11th consecutive month of lower closed sales, indicating buyers are taking a step back, due to a combination of higher home prices and interest rates. Nonetheless, the months supply of inventory remained in seller “territory” at 1.9 months in November and new listings were down.

Charlotte Region Real Estate: October 2022

Charlotte Region Housing Market Overview For October 2022

Charlotte Region real estate in October 2022 saw home sales drop 29.9% year-over-year, while home prices increased 18.1%, on average. Sales dropped for a 10th consecutive month due to higher home prices, increasing interest rates, and fewer new listings. Homes sold in under one month, on average. The months supply of homes, while increasing, stood at 1.8 months, keeping Charlotte in “home seller territory,” and despite an increase in inventory overall. Home affordability is suffering.

Waxhaw Real Estate Report: October 2022

Waxhaw Area/28173 Zip Code Home Sales Update October 2022

Waxhaw area real estate market showed some signs of cooling in October 2022, despite a substantial increase in home prices. A list to sale price ratio of 97.5% was the lowest Waxhaw has seen since November 2019. Waxhaw also saw a 10th consecutive month of lower closed sales indicating buyers are taking a step back, due to a combination of higher home prices and interest rates. Nonetheless, the months supply of inventory remained in seller “territory” at 2 months in October and new listings were down.

Charlotte Region Real Estate: September 2022

Charlotte Region Housing Market September 2022

Charlotte Region real estate in September 2022 saw home sales drop 20.8% year-over-year, while home prices increased 16.1%, on average. Sales dropped for an ninth consecutive month due to higher home prices, increasing interest rates, and fewer new listings. Homes sold in 22 days, on average. The months supply of homes, while increasing, stood at 1.6 months, keeping Charlotte in “home seller territory,” despite an increase in inventory overall. Home affordability is suffering.

Waxhaw Real Estate Report: September 2022

Waxhaw, Weddington, Marvin NC Home Sales Report September 2022

Waxhaw area real estate market showed signs of cooling in September 2022, despite an increase in home prices. A list to sale price ratio of 97.9% was the lowest Waxhaw has seen since November 2019. Waxhaw also saw a ninth consecutive month of lower closed sales indicating buyers are taking a step back, due to a combination of higher home prices and interest rates. Nonetheless, the months supply of inventory remained in seller “territory” at 1.9 months in September and new listings were down.

Charlotte Region Real Estate: August 2022

Charlotte Region Housing Market Snapshot August 2022

Charlotte Region real estate in August 2022 saw home sales drop 22% year-over-year, while home prices increased 16.9%, on average. Median home sale prices set a new record. Sales dropped for an eighth consecutive month due to higher home prices, increasing interest rates, and low inventory. Homes sold in 19 days, on average. The months supply of homes, while increasing, stood at 1.5 months, keeping Charlotte in “home seller territory,” and despite an increase in inventory overall.

Waxhaw Real Estate Report: August 2022

Waxhaw Area/28173 Zip Code Home Sales Report

Waxhaw area real estate market kept home sellers in the driver’s seat in August with average home sale prices increasing year-over-year and the median list to price sale ration holding at 100%. Median home prices in Weddington and Marvin again exceeded $1 million in August. At the same time, we saw an eighth consecutive month of lower closed sales indicating buyers are taking a step back, due to a combination of higher home prices and interest rates. Nonetheless, the months supply of inventory remained in seller “territory” at 1.8 months in August and new listings were down.