The pandemic continued to impact the Waxhaw area housing market in June 2020 with continued decreases in inventory. With less inventory, home sale prices increased, days on market and months supply of inventory decreased, while the percent of asking price that home sellers realized increased. All of this kept the Waxhaw area a home sellers’ market.
Waxhaw (28173 Zip Code) Home Sales Report: June 2020
Latest news on the Waxhaw area (28173 zip code) real estate market in June 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 36.7% year-over-year) in June 2020. New listings decreased 3.8% year-over-year in June, as did the months supply of inventory.
Average days on market decreased 12 days to 39 days year-over-year. Median days on market were 16 days in June, down 2 days year-over-year. .
Continued tight inventory and a months supply of homes of 2.5 months (a 1.6 month’s drop from 4.1 months one year ago), kept the Waxhaw area a seller’s market. Resale inventory dropped 34.1% to just 1.6 months supply; new construction inventory dropped 37.1% in June to just 1.7 months supply.
With home sellers receiving 98.4% of list price (up 0.1% year-over-year) there was less room for home buyers to negotiate in June 2020 than in the previous year.
Home sale prices (median [$415,000] and average [$470,372]) in June increased 4.1% on average and 13.7% for median home prices year-over-year. Price per square foot increased 7.5% to $144/square foot (up $10/square foot) in June versus the same month one year ago.
Closed sales decreased 1.2% and pending sales increased 22.3% in June 2020 compared with the same month one year ago.
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Waxhaw Area Housing Market Highlights:
June 2020 versus June 2019
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 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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