Waxhaw Real Estate November 2020
Waxhaw real estate November 2020 remained a seller’s market with continued decreases in inventory. With 55% less inventory despite an increase in new listings, home sale prices increased substantially and days on market decreased significantly. All of this kept the Waxhaw area a home sellers’ market.
Waxhaw Real Estate November 2020 Update
Latest news on the Waxhaw area (28173 zip code) real estate market in November 2020 and what it means for you…
The Waxhaw area of the Charlotte, North Carolina metro area (28173 zip code–encompassing the three towns of Waxhaw, Marvin and Weddington) continued to see tight inventory (dropping 55% year-over-year) in November 2020, despite a 22.6% increase in new listings year-over-year.
Average days on market decreased 35 days to 38 days year-over-year. Median days on market were 4 days in November, down 46 days year-over-year.
Continued tight inventory and a months supply of homes of 1.4 months (a 2.1 month’s drop from 3.5 months one year ago), kept the Waxhaw area a seller’s market.
With home sellers receiving a median 100% of list price (up 4.1% year-over-year) there was less room for home buyers to negotiate in November 2020 than in the previous year.
Home sale prices (median [$450,411] and average [$557,085]) in November increased 31.5%, on average, and 29.7% for median home prices year-over-year. Price per square foot increased 16.5% to $162/square foot (up $23/square foot) in November versus the same month one year ago.
Closed sales increased 27.5% and pending sales increased 60.5% in November 2020 compared with the same month one year ago.
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Waxhaw Real Estate Market Highlights:
November 2020 vs November 2019
FIND OUT MORE ABOUT THE WAXHAW | WEDDINGTON | MARVIN AREAS AND WHY PEOPLE LOVE LIVING THERE
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?
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 Waxhaw real estate November 2020 update 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:
“The Right Broker Makes All The Difference.”
