Waxhaw Housing Market Update for February 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 and no increases in new listings impacting sales negatively. The months supply of homes in February decreased by almost a full month since January 2019. While closed sales were down 20% overall, closed sales of resale homes were down only 2%. Days on market continue to decrease in 2019. New construction homes continue to carry a big premium over resale homes, selling at about $77,000 more per home on average.
Video Update For The Waxhaw Housing Market: February 2019
Waxhaw, NC Remained A Seller’s Market in February 2019
- Average sale price of Waxhaw area homes decreased in February 2019 by 8.4% to just over $420,000 compared with the same period one year ago. Most of this decrease stemmed from new construction home sales. By the same token, the average sale price in February increased by almost $16,000 versus the prior month of January 2019.
- Median sale price for Waxhaw area homes in February 2019 decreased by 14.5% versus one year ago to $371,500. However, median home sale prices increased by approximately $35,000 versus the prior month of January 2019.
- Average days on market for property listings in Waxhaw area were 65 days in January 2019 (up 3 days compared with one year ago, but down 1 day from the prior month).
- Median days on market dropped to 31 days in February 2019 (down 2 days compared with one year ago). This is the third consecutive month that median days on market in the Waxhaw area have dropped.
- Average price per square foot for Waxhaw area homes increased by $1 per square foot to $134/square foot in February 2019 versus the same period in 2018 (a $5/per square foot increase over January 2019).
- Pending sales in Waxhaw area increased 1.6% in February 2018 versus the same month last year.
- Closed sales in Waxhaw area decreased 20% in February 2019 compared with the same month one year ago. However, the decrease in closed resale homes was only 2%.
- New listings in Waxhaw area were flat versus February 2018.
- Months supply of inventory remained low at 2.9 months, flat versus February 2018. Inventory dropped almost one full month since January 2019.
- Percent of original list price sellers received for their homes was 97.7%, showing little negotiating room in the 28173 zip code for Waxhaw/Weddington/Marvin homes.
- Average sale price for new construction homes in the Waxhaw area was $477,619 in February 2019. Average sale price of new construction homes was almost $77,000 higher than that of a resale home in February 2019 and approximately $32,000 higher than last month in January 2019.
13 Hot Neighborhoods In Waxhaw Area
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Previous Housing Market Updates For Waxhaw Area
Buying Or Selling A Home In The Waxhaw Area…
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This Charlotte, North Carolina real estate monthly update for Waxhaw is brought to you by Nina Hollander and Carolinas Realty Partners with Coldwell Banker Residential Brokerage, your Waxhaw/Weddington/Marvin specialists and Charlotte metro area residential real estate experts. We’ve been opening doors for Waxhaw, Weddington, and Marvin home buyers and sellers for 20+ years.
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Search All Waxhaw/Weddington/Mavin Homes For Sale
- Video Update For The Waxhaw Housing Market: February 2019
- Waxhaw, NC Remained A Seller's Market in February 2019
- 13 Hot Neighborhoods In Waxhaw Area
- Find Your Waxhaw Area Dream Home
- Find Out What Your Waxhaw Area Home Is Worth
- Previous Housing Market Updates For Waxhaw Area
- Buying Or Selling A Home In The Waxhaw Area...
- Search All Waxhaw/Weddington/Mavin Homes For Sale