Waxhaw Real Estate July 2024
Waxhaw Real Estate July 2024 | What To Know Now
Waxhaw area real estate July 2024 saw both median and average sale prices pull back from one month ago and one year ago. Sales declined after five consecutive months of increases in 2024, but were higher than in July one year ago. The list to sale price ratio of 99.6% in July 2024 provided Waxhaw area home buyers minimal opportunity to negotiate on price. Average days on market remained below one month (21 days) for a fifth consecutive month. Inventory of homes for sale increased a sixth consecutive month to its highest level in the past three years. New listings declined in July for a second consecutive month. Months supply of inventory increased to 4.25 months pushing Waxhaw towards a balanced market between home buyers and home sellers.
WAXHAW REAL ESTATE JULY 2024 HIGHLIGHTS
WAXHAW HOME PRICES PULL BACK IN JULY
The median sale price in July 2024 was $720,000, down 9.94% from $799,500 in the previous month of June. The median sale price was 7.1% lower than $775,000 in July one year ago.
The average sale price in July 2024 was $785,860, down 11.89% from $891,915 in the previous month of June 2024. The average sale price in July 2024 was 6.6% lower than the $841,885 in July one year ago. The average sale price in July 2024 was at its lowest compared with July 2023 and 2022.
Price per square foot was $247 in July 2024, down 3.14% from one month ago and increasing 11.26% from $222 in July one year ago.
WAXHAW HOMES LIST TO SALE PRICE RATIO FLAT
The July 2024 list to sale price ratio was 99.6%, flat compared with June 2024. June’s list to sale price ratio was also flat compared with July 2023. Waxhaw area buyers did not see significant opportunities to negotiate on price in July 2024.
WAXHAW HOMES AVERAGE DAYS ON MARKET BELOW ONE MONTH A 5th CONSECUTIVE MONTH
Average days on market in July 2024 were 21 days, down one day from one month ago. Compared with July 2023, average days on market declined 7 days from 28 days. Compared with July 2022, average days on market were 14 days higher in 2024.
WAXHAW SALES DOWN AFTER 5 CONSECUTIVE MONTH OF INCREASES
Sales declined in July 2024 to 102, down 3.77% from 106 sales in the previous month, but increased 5.15% from July 2023 (97 sales). July’s sales in 2024 were at their second highest level since June 2023. Compared with July 2022, the current year saw 6 fewer sales.
WAXHAW HOUSING INVENTORY UP A 6th CONSECUTIVE MONTH
Inventory of homes for sale in July 2024 stood at 433 properties, up 4.84% from 413 properties for sale one month ago. Inventory was 34.89% higher than in July one year ago (321 properties for sale). Inventory was also higher compared with July 2022 (381 properties for sale). Inventory in July 2024 was at its highest level in the past three years.
The months supply of inventory increased from 3.89 months in June to 4.25 months in July. At 4.25 months supply of inventory, the Waxhaw housing market has moved towards a balanced market between home buyers and sellers.
NEW LISTINGS DECLINED A SECOND CONSECUTIVE MONTH
The number of new listings in July 2024 was 114, down 2.56% from 117 new listings one month ago. New listings were 29.55% higher than the 88 new listings in July 2023. Compared with July 2022, new listings in 2024 were lower by 42 properties. New listings in July 2024 were at their third highest level since May 2023 which saw 127 new listings.
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FIND OUT MORE ABOUT THE WAXHAW | WEDDINGTON | MARVIN AREAS AND WHY PEOPLE LOVE LIVING THERE
Did You Know…
… Weddington is ranked as the 3rd best suburb to live in the Greater Charlotte area and the #1 best place to live in Union County?
… Marvin is ranked as the 5th best suburb to live in the Greater Charlotte area and the #3 best best place to raise a family in Greater Charlotte?
… Waxhaw is ranked as the 9th best suburb to live in the Greater Charlotte area and the 3rd best place to live in Union County?
… So why not check out…
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This Charlotte, North Carolina real estate monthly update for Waxhaw, Weddington, Marvin is provided by Nina Hollander, Coldwell Banker Realty, Greater Charlotte residential real expert and Waxhaw/Weddington/Marvin area specialist. I’ve been opening doors for Waxhaw area home buyers and sellers since 1999.
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:
PREVIOUS WAXHAW REAL ESTATE REPORTS
Waxhaw Real Estate Report: June 2023 Waxhaw Real Estate Report: May 2024
Waxhaw Real Estate Report: April 2024 Waxhaw Real Estate Report: March 2024
Waxhaw Real Estate Report: February 2024 Waxhaw Real Estate Report: January 2024
Waxhaw Real Estate Report: December 2023 Waxhaw Real Estate Report: November 2023
Waxhaw Real Estate Report: October 2023 Waxhaw Real Estate Report: September 2023
Waxhaw Real Estate Report: August 2023 Waxhaw Real Estate Report: July 2023
