It’s still tight inventory and rising home prices in the Waxhaw area, which encompasses the towns of Waxhaw, Weddington, and Marvin in the 28173 zip code. Availability of new construction inventory was significantly down in October 2019. Resale inventory was also significantly down in October year-over-year, resulting in slightly lower closed homes and home sale prices.
Waxhaw Area Real Estate Report & Housing Market Snapshot: October 2019
Latest news on the Waxhaw area real estate market and what it means for you…
Waxhaw area (28173 zip code) real estate report/snapshot for October 2019. The Waxhaw area of the Charlotte, North Carolina metro area (the 28173 zip code–encompassing the three towns of Waxhaw, Marvin and Weddington) continued to see tight inventory (dropping 22.6% year-over-year) despite an increase of 23.8% in new listings.
New construction inventory, which has long been a “staple” for the Waxhaw area home sales plummeted 45.5% year-over-year. Resale inventory also dropped significantly (23.3%) year-over-year. Lower inventory, especially in new construction, resulted in a lower average days on market of 67 days. Median days on market dropped 5 days to 37 days in October compared with the same month one year ago.
With continued tight inventory and months supply of homes dropping to 3.4 months (from 4.6 months one year ago), the Waxhaw area remains a seller’s market.
With home sellers receiving 96.6% of list price there’s some room for home buyers to negotiate, but not a lot.
Home sale prices (median and average) were down slightly in October, but this might be more a factor of the huge decrease in new construction and the price mix of homes for sale in October than any dimunition in the value of homes in the 28173 zip code. Price per square foot increased by $8/square foot to $142 in October versus the same month one year ago.
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Waxhaw Area Housing Market Performance: October 2019 Versus October 2018
Median Home Price Trends In Waxhaw Area
Find Your Waxhaw Area Dream Home
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?
Waxhaw 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…
It’s easy to find your Waxhaw | Weddington | Marvin dream home at GreatHomesInCharlotte.com.
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Previous Waxhaw Area Housing Market Updates
Whether You’re Buying Or Selling A Waxhaw Area Home…
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This Charlotte, North Carolina real estate monthly update for Waxhaw, Weddington, and Marvin is provided by Nina Hollander and Carolinas Realty Partners with Coldwell Banker Residential Brokerage, your Waxhaw area specialists and Charlotte metro area residential real estate experts. 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 Charlotte metro area, I’d love an opportunity to earn your business, to exceed your expectations, and to show you how:
- Waxhaw Area Real Estate Report & Housing Market Snapshot: October 2019
- Waxhaw Area Housing Market Performance: October 2019 Versus October 2018
- Median Home Price Trends In Waxhaw Area
- Find Your Waxhaw Area Dream Home
- What Is Your Waxhaw Area Home Worth?
- Previous Waxhaw Area Housing Market Updates
- Whether You're Buying Or Selling A Waxhaw Area Home...