The Waxhaw area housing market remained a seller’s market in September 2020 with continued decreases in inventory. With 50% less inventory, home sale prices increased as did average and median prices of homes sold. The percent of asking price that home sellers realized also increased. All of this kept the Waxhaw area a home sellers’ market.
Waxhaw (28173 Zip Code) Home Sales Report: September 2020
Latest news on the Waxhaw area (28173 zip code) real estate market in September 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 50% year-over-year) in September 2020, despite an increase of 4.3% in new listings year-over-year.
Average days on market increased 5 days to 50 days year-over-year. Median days on market were 14 days in September, up 2 days year-over-year. It should be noted that the increase in median and average days on market stems from new construction. Resale homes saw a reduction in days on market.
Continued tight inventory and a months supply of homes of 1.7 months (a 1.2 month’s drop from 3.9 months one year ago), kept the Waxhaw area a seller’s market. Resale inventory dropped 68.4% to just 0.7 months supply.
With home sellers receiving 98.5% of list price (up 0.4% year-over-year) there was less room for home buyers to negotiate in September 2020 than in the previous year.
Home sale prices (median [$450,000] and average [$515,726]) in September increased 17.1% on average and 10.4% for median home prices year-over-year. Price per square foot increased 12.5% to $153/square foot (up $17/square foot) in September versus the same month one year ago.
Closed sales increased 50.4% and pending sales increased 59.6% in September 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:
September 2020 versus September 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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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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