November 2018 housing numbers continue to show that “bargains” in the Indian Land (29707 zip code) housing market have essentially disappeared with average and median home prices increasing double-digits to the mid-$300,00’s and catching up to home prices in Fort Mill, SC (29715 and 29708 zip codes) in November 2018. Housing inventory also down double-digits in November and months supply of inventory at its lowest level in three years. Closed sales were up in November 2018 by double-digits.
November 2018 home sales in the Waxhaw area of the Charlotte, North Carolina metro area (the 28173 zip code–encompassing the three towns of Waxhaw, Marvin and Weddington) continued the trends we’ve seen all year. Home prices increased substantially in November. Inventory remains low, especially in affordable homes. New listings were down double digits in November. New construction sales remain a driving force in the Waxhaw area housing market.
Indian Trail Housing Market Update/Video November 2018. Indian Trail, NC (28079 zip code) area includes the towns of Stallings, Hemby Bridge, and Lake Park in Union County. Home sales in the Indian Trail area showed a drop in average home prices for the first time all year, contrary to what we’re seeing much of the rest of the Charlotte region. Also contrary are the lower days on market in the 28079 zip code. Inventory is up, as are new listings which grew substantially in November.
Matthews Housing Market Update/Video November 2018. November home sales in Matthews, North Carolina saw continued home sale prices increases. Market inventory remained tight and months supply of homes at 2.1 months indicated a continuing seller’s market. Closed and pending sales, as well as new listings, were all down by double digits in November. Lack of affordable inventory can be considered a contributing factor for this situation.
Ballantyne Housing Market Update/Video November 2018. November home sales in the Ballantyne (28277 zip code) area of Charlotte, North Carolina saw the same trends we’ve been seeing all year with home prices up. Inventory remained tight and new listings decreased during the month. Closed and pending sales up, but not significantly, due to limited affordable inventory and rising home prices and interest rates.
The Waxhaw/Weddington/Marvin areas housing market remained a seller’s market in October 2018, suffering from a distinct lack of affordable, resale homes with average home prices now in the mid $400,000’s. New construction remains a driving force in the 28173 zip code, further driving up average and median home prices.