Waxhaw area real estate market in February 2023 saw a 14th consecutive month of lower closed sales, indicating buyers are taking a step back, due to a combination of higher home prices, higher interest rates, and economic uncertainty. Days on market increased. Median and average sale prices increased year-over-year and month-over-month. New listings were at their lowest level in three years with the exception of December 2022.
Waxhaw area real estate market in January 2023 saw a 13th consecutive month of lower closed sales, indicating buyers are taking a step back, due to a combination of higher home prices, higher interest rates, and economic uncertainty. Days on market also increased. Median and average sale prices were down year-over-year and month-over-month. New listings were at their lowest level in three years with the exception of December 2022.
Waxhaw area real estate market in December saw a 12th consecutive month of lower closed sales, indicating buyers are taking a step back, due to a combination of higher home prices and interest rates. Days on market also increased. Nonetheless, the months supply of inventory remained in seller “territory” at 1.5 months in December 2022, new listings were down, and home prices were up.
Waxhaw area real estate market showed signs of continued cooling in November, despite an increase in average home prices. Waxhaw also saw an 11th consecutive month of lower closed sales, indicating buyers are taking a step back, due to a combination of higher home prices and interest rates. Nonetheless, the months supply of inventory remained in seller “territory” at 1.9 months in November and new listings were down.
Waxhaw area real estate market showed some signs of cooling in October 2022, despite a substantial increase in home prices. A list to sale price ratio of 97.5% was the lowest Waxhaw has seen since November 2019. Waxhaw also saw a 10th consecutive month of lower closed sales indicating buyers are taking a step back, due to a combination of higher home prices and interest rates. Nonetheless, the months supply of inventory remained in seller “territory” at 2 months in October and new listings were down.
Waxhaw area real estate market showed signs of cooling in September 2022, despite an increase in home prices. A list to sale price ratio of 97.9% was the lowest Waxhaw has seen since November 2019. Waxhaw also saw a ninth consecutive month of lower closed sales indicating buyers are taking a step back, due to a combination of higher home prices and interest rates. Nonetheless, the months supply of inventory remained in seller “territory” at 1.9 months in September and new listings were down.
Waxhaw area real estate market kept home sellers in the driver’s seat in August with average home sale prices increasing year-over-year and the median list to price sale ration holding at 100%. Median home prices in Weddington and Marvin again exceeded $1 million in August. At the same time, we saw an eighth consecutive month of lower closed sales indicating buyers are taking a step back, due to a combination of higher home prices and interest rates. Nonetheless, the months supply of inventory remained in seller “territory” at 1.8 months in August and new listings were down.
Waxhaw area real estate market kept home sellers in the driver’s seat in July with average home sale prices setting a new record high. Median home prices in Weddington and Marvin exceeded $1 million in July. At the same time, we saw a seventh consecutive month of lower closed sales indicating buyers are taking a step back, due to a combination of higher home prices and interest rates. Nonetheless, the months supply of inventory remained in seller “territory” at 1.6 months in July.
Waxhaw area real estate market kept home sellers in the driver’s seat in June with home sale prices reaching new highs and days on market at new lows. At the same time, we saw a sixth consecutive month of lower closed sales indicating that since interest rates have risen buyers are taking a step back. Despite this and an increase in new listings, the months supply of inventory remained in seller “territory” at 1.3 months in June.
Waxhaw area housing market remained a home seller’s market in May 2022 with continuing decreases in inventory and new construction. With 30.4% less inventory year-over-year and no decrease in buyer demand, days on market were down, while average home prices rose 29.3%. Both closed and pending sales were down due to the lack of inventory and new listings.
