The Waxhaw area housing market remained a seller’s market in February 2021 with continued significant decreases in inventory. With 70.6% less inventory year-over-year and fewer new listings, average days on market decreased, as did closed sales. All of this kept the Waxhaw area a home sellers’ market.
Waxhaw (28173 Zip Code) Home Sales Report: February 2021
Latest news on the Waxhaw area (28173 zip code) real estate market in February 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 70.6% year-over-year) in February 2021, coupled with a 22.4% decrease in new listings year-over-year.
Average days on market decreased 11 days to 68 days year-over-year. Median days on market were 26 days in February, down 14 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 0.8 months (a 2.3 month’s drop from 3.1 months one year ago), kept the Waxhaw area a seller’s market.
With home sellers receiving a median 99.6% of list price (up 2.7% year-over-year) there was less room for home buyers to negotiate in February 2021 than in the same month the previous year.
Home sale prices (median [$3377,500] and average [$412,490]) in February decreased 4.0%, on average, and decreased 5.6% for median home prices year-over-year. The decrease in home sale prices is not due to lower home values in the Waxhaw market. Rather, it’s reflective of the price mix of homes that sold during the month of February.
Price per square foot increased 13.1% to $164/square foot (up $19/square foot) in February versus the same month one year ago.
Closed sales decreased 3.2% while pending sales increased 32.5% in February 2021 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:
February 2021 versus February 2020
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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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Waxaw is ranked as the 12th best suburb to live in in Charlotte metro area and the 24th 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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