It’s still tight inventory in the Waxhaw area, encompassing the towns of Waxhaw, Weddington, and Marvin in the 28173 zip code. New construction inventory was significantly down (47.7%) in February 2020. Resale inventory was also significantly down (almost 32.7%) in February year-over-year to just 1.6 months. Both average and median home sale prices increased in February year-over-year, as did closed and pending sales.
Waxhaw Area Real Estate Report: February 2020
Latest news on the Waxhaw area real estate market and what it means for you…
Waxhaw area (28173 zip code) real estate report for February 2020. 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 30% year-over-year). New listings also dropped 6% year-over-year in February.
Average days on market increased 11 days to 81 days year-over-year. Median days on market were 41 days in February 2020.
Continued tight inventory and a months supply of homes of 2.7 months (a 1.5 month’s drop from 4.2 months one year ago), kept the Waxhaw area a seller’s market. Resale inventory dropped in February by 32.7%; new construction inventory dropped 47.7%. The months supply of resale inventory was 1.6 months in February, down 38.5% year-over-year from 2.6 months.
With home sellers receiving 96.9% of list price there was some room for home buyers to negotiate in February 2020.
Home sale prices (median [$393,509] and average [$423,359]) in February increased 3.7% on average and 5.9% for median home prices year-over-year. Price per square foot increased 10.7% to $145/square foot (up $14/square foot) in February versus the same month one year ago.
Closed sales increased 9.8% and pending sales increased 8.2% in February 2020 compared with the same month one year ago.
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Waxhaw Area Housing Market Highlights: February 2020 vs February 2019
Median Home Price Trends In Waxhaw Area
Find Your Waxhaw Area Dream Home
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?
Waxhaw 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…
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Previous Waxhaw Area Housing Market Updates
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This Charlotte, North Carolina real estate monthly update for Waxhaw, Weddington, and Marvin is provided by Nina Hollander and Carolinas Realty Partners with Coldwell Banker Residential Brokerage, your Waxhaw area specialists and Charlotte metro area residential real estate experts. We’ve been opening doors for Waxhaw area home buyers and sellers for 20+ years.
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- Waxhaw Area Real Estate Report: February 2020
- Waxhaw Area Housing Market Highlights: February 2020 vs February 2019
- Median Home Price Trends In Waxhaw Area
- Find Your Waxhaw Area Dream Home
- What's Your Waxhaw Area Home Worth?
- Previous Waxhaw Area Housing Market Updates
- Whether You're Buying Or Selling A Waxhaw Area Home...