Waxhaw (28173 zip code) real estate report/snapshot: August 2019. The Waxhaw area of the Charlotte, North Carolina metro area (the 28173 zip code–encompassing the three towns of Waxhaw, Marvin and Weddington) continued to see tight inventory (dropping 24.7% year-over-year) and a continued decrease (down 12.6%) in new listings year-over-year. With continued tight inventory and fewer new listings, Waxhaw area remains a seller’s market. Lack of inventory has driven up home prices — 4.4% for resale home year-over-year, while median home sale prices increased 10.6% year-over-year. The months supply of homes dropped 25% in August versus the same month last year and resale home inventory is low at 2.5 months.
Waxhaw Housing Market Snapshot: August 2019
- Average sale price of Waxhaw area homes increased in August 2019 by 4.4% to just over $500,000 compared with the same period one year ago. Resale home prices increased 6.2% year-over-year in August 2019. Average sale prices for resale homes now are almost at the same level as new construction.
- Median sale price for Waxhaw area homes in August 2019 increased 10.6% versus one year ago to $458,000.
- Average days on market for property listings in Waxhaw area were 47 days in August 2019 — down 5 days year-over-year and down 1 day month-over-month.
- Median days on market were 21 days in August 2019 — flat compared with one year ago and down 3 days month-over-month.
- Average price per square foot for Waxhaw area homes increased $7 per square foot to $140/square foot in August 2019 versus the same period in 2018,
- Pending sales in Waxhaw area decreased 2.2% in August 2019 versus the same month last year.
- Closed sales in Waxhaw area decreased 17.2% in August 2019 compared with the same month one year ago.
- New listings in Waxhaw area decreased 12.6% in August 2019 versus August 2018. The decreases in inventory and new listings no doubt contributed to lower closed and pending sales in August.
- Months supply of inventory was 3.6 months, down 25% versus August 2018. Resale inventory was down in August 2019 by 28.2% compared with August 2018, while new construction inventory decreased 47.3%. Months supply of inventory for resale homes was just 2.5% in August.
- Percent of original list price sellers received for their homes was 97.6%, providing relatively little negotiating room in the 28173 zip code for homes in Waxhaw, Weddington, and Marvin in August 2019.
How The Waxhaw | Weddington | Marving Housing Markets Performed In
August 2019 versus August 2018
13 Hot Neighborhoods In Waxhaw Area
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Previous Housing Market Updates For Waxhaw Area
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