Waxhaw Real Estate October 2024
Waxhaw Real Estate October 2024 | What To Know Now
Waxhaw area real estate October 2024 saw little movement in the median and average sale prices both month-over-month and year-over-year. Sales improved after three consecutive months of decline. Sales were also higher compared with the same month one year ago. The list to sale price ratio of 98.31% in October 2024 was down month-over-month and flat year-over-year. After seven consecutive months of days on market at under one month, in October DOM skyrocketed to 41 days. Inventory of homes for sale declined after eight months of increases. New listings declined in October for a fifth consecutive month to their lowest level since January 2024. Months supply of inventory declined 4.73 months from 7.11 months in September, pushing Waxhaw back into a balanced market between buyers and sellers.
WAXHAW REAL ESTATE OCTOBER 2024 HIGHLIGHTS
WAXHAW HOME PRICES
The median sale price in October 2024 was $650,109, unchanged from the previous month of September. The median sale price was 1.8% lower than $662,000 in October one year ago.
The average sale price in October 2024 was $767,749, up 1.22% from $758,495 in the previous month of September 2024. The average sale price in October 2024 was 2.78% lower than the $789,683 in October one year ago. The average sale price in October 2024 was at its lowest compared with October 2023 and 2022.
Price per square foot was $246 in October 2024, down 4.65% from $258 from one month ago and increasing 6.49% from $231 in October one year ago.
WAXHAW HOMES LIST TO SALE PRICE RATIO
The October 2024 list to sale price ratio was 98.31% down from 99.27% in September 2024. Compared with October one year ago, the list to sale prices ratio was unchanged.
WAXHAW HOMES AVERAGE DAYS ON MARKET RISE TO HIGHEST LEVEL SINCE MARCH 2023
Average days on market in October 2024 increased 78.26% to 41 days compared with 23 days the previous month. Compared with October 2023, average days on market were 22 days higher this year. Compared with October 2022, average days on market were 14 days higher in 2024.
WAXHAW SALES UP MONTH-OVER-MONTH & YEAR-OVER-YEAR
After three consecutive months of sales declines, Waxhaw sales improved in October 2024 to 90, up 40.62% from 64 sales in the previous month. October 2024 sales were 57.89% higher compared with October 2023 (57 sales). Compared with October 2022, the current year saw 12 additional sales.
WAXHAW HOUSING INVENTORY UP AN 8th CONSECUTIVE MONTH
After eight consecutive months of increases, the inventory of homes for sale in October 2024 declined 7.39% to 426, from 460 one month ago. Inventory was 30.67% higher than in October one year ago (326 properties for sale). Inventory was also higher compared with October 2022 (404 properties for sale). Inventory in October 2024 was at its highest level compared with October 2023 and 2022.
The months supply of inventory declined to 4.73 months from 7.11 months in September. At 4.63 months supply of inventory, the Waxhaw housing market is in a balanced position between home buyers and home sellers.
NEW LISTINGS DECLINED A 5th CONSECUTIVE MONTH
The number of new listings in October 2024 was 71, down 8.97% from 78 new listings one month ago. New listings were 1.39% lower than the 72 new listings in October 2023. October 2022 new listings were higher at 104. The October 2024 new listings were at their lowest level since January 2024 which saw 66 new listings in the Waxhaw area.
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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:
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PREVIOUS WAXHAW REAL ESTATE REPORTS
Waxhaw Real Estate Report: September 2024
Waxhaw Real Estate Report: August 2024 Waxhaw Real Estate Report: July 2024
Waxhaw Real Estate Report: June 2024 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
