The Waxhaw area housing market remained a seller’s market in September 2021 with continued significant decreases in inventory. With 58.3% less inventory year-over-year and continued buyer demand, days on market were down, while home prices increased. Both closed and pending sales were down due to the lack of inventory and new listings.
Waxhaw (28173 Zip Code) Home Sales Report: September 2021
Latest news on the Waxhaw area (28173 zip code) real estate market in September 2021 and what it means for you…
The Waxhaw area of the Charlotte, North Carolina metro area (the 28173 zip code–encompassing the three towns of Waxhaw, Marvin and Weddington) saw declines in inventory, declines in pending and closed sales, declines in new listings, declines in days on market in September 2021 versus September 2020. The only thing that increased were home prices, which increased over 21% year-over-year.
Average days on market decreased 24 (down 63.2%) days to 14 days year-over-year. Median days on market were 3 days in September, down 8 days year-over-year and down 20 days from two years ago in September.
Continued tight inventory and a months supply of homes of 0.9 months (a 1.2 month’s drop from 2.1 months one year ago and a 3.0 month’s drop from 3.9 months in 2019), kept the Waxhaw area a home seller’s market in September 2021. New construction inventory, long a staple of Waxhaw’s housing market, was at it’s lowest level in 15+ years, down 76.7% year-over-year, contributing to the lack of inventory and low months supply of homes in September 2021.
With home sellers receiving a median 102.5% of list price in final sale price (up 3.5% year-over-year), there was virtually no room for home buyers to negotiate in September 2021.
One indicator of demand for homes is the number of showings per listed property. In September 2021, the average Waxhaw area home had 12.6 showings compared with 10.3 showings in 2020 and 5.4 showings in 2019. It’s very much a case of more buyers chasing fewer listings.
Home sale prices increased 21.6%, on average, in September 2021 compared with the same month one year ago. The average sale price was $620,176. The median home sale price was $535,000, up 21.6% year-over-year. Compared with September 2019, average home sale prices are up about $178,000, while median home sale prices are about $128,000 higher.
Price per square foot increased 27.0% to $193/square foot (up $41/square foot) in September 2021 versus the same month one year ago.
Closed sales decreased 30.2% while pending sales decreased 30.7% in September 2021 compared with the same month one year ago. The decrease in pending sales can be attributed to lack of inventory and fewer new listings, which dropped 29.1% compared with September 2020.
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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 2021 versus September 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 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:
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