The Waxhaw area housing market remained a seller’s market in August 2021 with continued significant decreases in inventory. With 57.6% less inventory year-over-year and continued buyer demand, days on market were down, while home prices increased. Both closed and pending sales were down due to the lack of inventory and new listings.
Waxhaw (28173 Zip Code) Home Sales Report: August 2021
Latest news on the Waxhaw area (28173 zip code) real estate market in August 2021 and what it means for you…
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 57.6% year-over-year) in August 2021, accompanied by a drop in new listings of 20.2%.
Average days on market decreased 24 (down 63.2%) days to 14 days year-over-year. Median days on market were 3 days in August, down 8 days year-over-year and down 20 days from two years ago.
Continued tight inventory and a months supply of homes of 0.9 months (a 1.4 month’s drop from 2.3 months one year ago and a 3.2 one month’s drop from 4.1 months in 2019), kept the Waxhaw area a home seller’s market in August 2021. New construction inventory, long a staple of Waxhaw’s housing market, was at it’s lowest level in 15+ years, contributing to the lack of inventory and low months supply of homes in August 2021.
With home sellers receiving a median 101.2% of list price in final sale price (up 1.8% year-over-year), there was virtually no room for home buyers to negotiate in August 2021.
Home sale prices increased 22.0%, on average, in August 2021 compared with the same month one year ago. The average sale price was $640,288. Month-over-month average sale prices increased almost $11,000. The median home sale price was $550,000, up 22.2% year-over-year. Compared with August 2019, average home sale prices are up about $145,000, while median home sale prices are about $100,000 higher.
Price per square foot increased 27.0% to $194/square foot (up $42/square foot) in August 2021 versus the same month one year ago. The $194 average price per square foot is a new record high for Waxhaw homes.
Closed sales decreased 21.2% while pending sales decreased 35.4% in August 2021 compared with the same month one year ago. The decrease in pending sales can be attributed to lack of inventory and fewer new listings, which dropped 20.2% compared with August 2020.
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Waxhaw Area Housing Market Highlights:
August 2021 versus August 2020
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?
Waxaw is ranked as the 12th best suburb to live in in Charlotte metro area and the 24th best suburb in North Carolina?
… So why not check out…
THINKING OF SELLING YOUR HOME? CHECK OUT THE COLDWELL BANKER MARKETING ADVANTAGE
Median Home Price Trends In Waxhaw | Weddington | Marvin
This Charlotte, North Carolina real estate monthly update for Waxhaw, Weddington, Marvin is provided by Nina Hollander and Carolinas Realty Partners, Coldwell Banker Realty, your Greater Charlotte area residential real experts and Waxhaw/Weddington/Marvin area specialists. 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 Waxhaw area or anywhere in the Charlotte metro area, I’d love an opportunity to earn your business, to exceed your expectations, and to show you why experience matters and how: