The Waxhaw area housing market remained a seller’s market in December 2020 with continued decreases in inventory. With 60.8% less inventory despite an increase in new listings, average home sale prices increased and days on market decreased. All of this kept the Waxhaw area a home sellers’ market.
Waxhaw (28173 Zip Code) Home Sales Report: December 2020
Latest news on the Waxhaw area (28173 zip code) real estate market in December and what it means for you…
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 60.8% year-over-year) in December 2020, despite a 96% increase in new listings year-over-year.
Average days on market decreased 3 days to 53 days year-over-year. Median days on market were 18 days in December, down 8 days year-over-year. New construction in Waxhaw keeps the average days on market seemingly high.
Continued tight inventory and a months supply of homes of 1 month (a 2.1 month’s drop from 3.1 months one year ago), kept the Waxhaw area a seller’s market.
With home sellers receiving a median 99.3% of list price (up 0.9% year-over-year) there was less room for home buyers to negotiate in December 2020 than in the previous year.
Home sale prices (median [$395,063] and average [$501,498]) in December increased 3.7%, on average, and decreased 4.9% for median home prices year-over-year. The decrease in median home sale prices is not reflective of lower home values in the Waxhaw area. Rather it’s a function of the price mix of homes sold in December.
Price per square foot increased 9.7% to $158/square foot (up $14/square foot) in December versus the same month one year ago.
Closed sales increased 29.5% and pending sales increased 41% in December 2020 compared with the same month one year ago.
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MORE INFORMATION ABOUT THE WAXHAW HOUSING MARKET’S PERFORMANCE
MORE INFOMATION ABOUT THE WEDDINGTON HOUSING MARKET’S PERFORMANCE
MORE INFORMATION ABOUT THE MARVIN HOUSING MARKET’S PERFORMANCE
Waxhaw Area Housing Market Highlights:
December 2020 versus December 2019
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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?
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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 Charlotte metro 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 how:
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