The Waxhaw area housing market remained a home seller’s market in March 2022 with continued significant decreases in inventory and new construction. With 53.4% less inventory year-over-year and continued buyer demand, days on market were down, while average home prices rose 25.5%. Both closed and pending sales were down due to the lack of inventory and new listings.

Waxhaw (28173 Zip Code) Home Sales Report: March 2022

Latest news on the Waxhaw area (28173 zip code) real estate market in March 2022 and what it means for you…

 

Waxhaw Area Real Estate ReportThe Waxhaw area of the Charlotte, North Carolina metro area (the 28173 zip code–encompassing the three towns of Waxhaw, Marvin and Weddington) saw continued significant declines in inventory, declines in pending and closed sales, declines in new listings, declines in days on market in March 2022 versus March 2021. The only thing that increased were home prices, which increased 25.5% year-over-year, on average. Lack of inventory is clearly impacting sales volume and home prices in the 28173 zip code.

 

Average days on market decreased 12 days (down 28.6%) to 30 days year-over-year from 59 days one year ago. Average days on market were down 29 days compared with March 2020. Average days on market were also down 5 days month-over-month.  Median days on market were 4 days in March, flat year-over-year and down 8 days from two years ago in March. 

 

Continued tight inventory and a months supply of homes of 0.6 months (a 0.4 month’s drop from 0.9 months one year ago and a 2.9 month’s drop from 3.5 months in March 2020), kept the Waxhaw area a home seller’s market in March 2022. New construction inventory, down 66.2% year-over-year and long a staple of Waxhaw’s housing market, was at some of its lowest levels in 15+ years, contributing to the lack of inventory and low months supply of homes in March 2022.

 

With home sellers receiving a median 101.4% of list price in final sale price, there was virtually no room for home buyers to negotiate in March 2022.

 

One indicator of demand for homes is the number of showings per listed property. In March 2022, the average Waxhaw area home had 27.4 showings compared with 24 showings in 2021 and 6.4 showings in 2020. it’s very much a case of more buyers chasing fewer listings.

 

Home sale prices increased 25.5%, on average, in March 2022 compared with the same month one year ago. The average sale price was $674,307. Month-over-month, home prices increased about $56,000, on average. The median home sale price was $540,000, up 29.0% year-over-year. Month-over-month, median home prices increased about $23,000. Price per square foot increased 24.8% to $206/square foot in March 2022 versus the same month one year ago, setting a new record for price per square foot in the Waxhaw area for the second consecutive month.

 

Closed sales decreased 30.9% while pending sales decreased 17.1% in March 2022 compared with the same month one year ago. The decrease in closed and pending sales can be attributed to lack of inventory (down 53.4%) and fewer new listings, which dropped 11.3% compared with March 2021.

 

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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:

March 2022 versus March 2021

 

Home Sales Report For Waxhaw/28173 Zip Code: March 2022

 

FIND OUT MORE ABOUT THE WAXHAW | WEDDINGTON | MARVIN AREAS AND WHY PEOPLE LOVE LIVING THERE

 

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…

 THE 12 HOTTEST SELLING NEIGHBORHOODS IN THE WAXHAW AREA

 

Hottest Selling Waxhaw/28173 Zip Code Neighborhoods

             

 SEARCH ALL WAXHAW | WEDDINGTON | MARVIN AREA HOMES

 

 

FREE Home Buyer Guide: “Things To Consider When Buying A Home,”

 

WONDERING WHAT YOUR WAXHAW AREA HOME IS WORTH?

What's My Waxhaw Area Home Worth?

 

FREE Home Seller Guide: “Things To Consider When Selling Your House”

 

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:

 “The Right Broker Makes All The Difference.”

Search Waxhaw | Weddington | Marvin Homes For Sale


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Waxhaw (28173 Zip Code) Real Estate Report: March 2022
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Waxhaw (28173 Zip Code) Real Estate Report: March 2022
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The Waxhaw area housing market remained a seller's market in March 2022 with significant decreases in inventory, days on market, new listings, while home prices rose almost 25+%.
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