Waxhaw Real Estate October 2020
Waxhaw real estate October 2020 remained a seller’s market with continued decreases in inventory. With 51.3% less inventory, home sale prices increased and days on market decreased. The median percent of asking price that home sellers realized also increased. All of this kept the Waxhaw area a home sellers’ market.
Waxhaw Real Estate October 2020
Latest news on the Waxhaw area (28173 zip code) real estate market in October 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, Weddington, and Marvin) continued to see tight inventory (dropping 51.3% year-over-year) in October 2020, coupled with a decrease of 3.3% in new listings year-over-year.
Average days on market decreased 31 days to 39 days year-over-year. Median days on market were 7 days in October, down 31 days year-over-year.
Continued tight inventory and a months supply of homes of 1.6 months (a 2.1 month’s drop from 3.7 months one year ago), kept the Waxhaw area a seller’s market.
With home sellers receiving a median 100% of list price (up 3.7% year-over-year) there was less room for home buyers to negotiate in October 2020 than in the previous year.
Home sale prices (median [$481,000] and average [$557,121]) in October increased 29.7%, on average, and 30.4% for median home prices year-over-year. Price per square foot increased 12% to $159/square foot (up $17/square foot) in October versus the same month one year ago.
Closed sales increased 33.9% and pending sales increased 19.7% in October 2020 compared with the same month one year ago.
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Waxhaw Real Estate Highlights
October 2020 vs October 2019
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Weddington is ranked as the 4th best suburb to live in in Charlotte metro area and the 10th best suburb in North Carolina?
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This Charlotte, North Carolina real estate monthly update for Waxhaw, Weddington, Marvin is provided by Nina Hollander and Carolinas Realty Partners, Coldwell Banker Realty, your Charlotte metro area residential real experts and Waxhaw/Weddington/Marvin area specialists. 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 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 how:
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