Waxhaw Real Estate Report: November 2023
Waxhaw area real estate market in November 2023 saw home prices remain flat month-over-month, while increasing year-over-year. Closed sales declined from October 2023 and from November one year area. The list to sale price ratio was just under 100% providing little room for negotiation to buyers. Days on market increased from the prior month, declined from one year ago and remained low at 26 average days on market. Housing inventory was unchanged from one month ago and declined from November one year ago. New listings declined a seventh consecutive month. Despite less inventory and fewer new listings, the Waxhaw area housing market moved into a buyer’s market with 6.83 months of inventory.
WAXHAW (28173 ZIP CODE) HOUSING MARKET HIGHLIGHTS: NOVEMBER 2023
WAXHAW HOME PRICES UP YEAR-OVER-YEAR | FLAT MONTH-OVER-MONTH
The median sale price in November 2023 was $657,000, equal to the previous month of October. Median sale price was 21.6% higher than the $540,700 price in November 2022. The median sale price in November 2023 was its highest compared with November 2022 and 2021.
The average sale price in November 2023 was $768,126 down 2.73% from $789,683 in October 2023. The average sale price in November 2023 improved 14.43% from $671,259 in November 2022. The average sale price in November 2023 was its highest compared with November 2022 and 2021.
Price per square foot was $235 in November 2023, up from $231/square foot in October 2023 and increasing 12.98% from $208 in November 2022.
WAXHAW HOMES LIST TO SALE PRICE RATIO JUST UNDER 100%
The November 2023 list to sale price ratio was 99.19%, unchanged from previous month and equal to the list to sale price ratio one year ago in November. At just under 100% of list to sale price, Waxhaw area home buyers had little room to negotiate on price in November 2023.
WAXHAW HOMES’ AVERAGE DAYS ON MARKET UP MONTH-OVER-MONTH, DOWN YEAR-OVER-YEAR
Average days on market in November 2023 were 26 days, increasing 7 days from 19 days in October. Compared with November 2022, average days on market decreased five days from 31 days. Compared with November 2021, average days on market were 11 days higher in 2023. At 26 days on market in November, Waxhaw’s days on market were five days lower than the year-to-date DOM.
WAXHAW SALES DECLINED
Closed sales declined in November 2023 to 52, down 8.77% from 57 sold properties in October and down 24.64% from 69 sold properties in November 2022. The November 2023 sales were at their lowest level compared with November 2022 (69 sales) and November 2021 (90 sales).
WAXHAW HOUSING INVENTORY DOWN FROM ONE YEAR AGO
Inventory of homes for sale in November 2023 stood at 355 properties, equal to the previous month of October. Inventory was 16.47% lower than in November 2022. Inventory was lower compared with November 2022 (425 properties for sale), but higher than in November 2021 (345 properties for sale). With a month’s supply of inventory of 6.83, Waxhaw area moved into buyer market territory in November.
NEW LISTINGS DECLINE A SEVENTH CONSECUTIVE MONTH
The number of new listings in November 2023 was 55, decreasing 21.43% from 70 new listings in October. New listings were 25.68% lower than the 74 new listings in November 2022. The November 2023 listings were at their lowest level compared with November 2022 (74 new listings) and November2021 (101 new listings). The number of new listings in November were at their lowest since February 2023.
I can help.
Call me today at 704-779-0813 or contact me here.
There’s absolutely NO OBLIGATION.
A consultation with Nina Hollander is FREE.
MORE INFORMATION ABOUT THE WAXHAW HOUSING MARKET’S PERFORMANCE
MORE INFOMATION ABOUT THE WEDDINGTON HOUSING MARKET’S PERFORMANCE
MORE INFORMATION ABOUT THE MARVIN HOUSING MARKET’S PERFORMANCE
FIND OUT MORE ABOUT THE WAXHAW | WEDDINGTON | MARVIN AREAS AND WHY PEOPLE LOVE LIVING THERE
Did You Know…
… Weddington is ranked as the 5th best suburb to live in in Charlotte metro area and the 8th best suburb in North Carolina?
… Marvin is ranked as the 3rd best suburb to live in in Charlotte metro area and the 7th best suburb in North Carolina?
… Waxhaw is ranked as the 12th best suburb to live in in Charlotte metro area and the 20th best suburb in North Carolina?
… So why not check out…
THE 10 HOTTEST SELLING NEIGHBORHOODS IN THE WAXHAW AREA
SEARCH WAXHAW | WEDDINGTON | MARVIN AREA HOMES
FREE Home Buyer Guide: “Things To Consider When Buying A Home,”
WONDERING WHAT YOUR WAXHAW AREA HOME IS WORTH?
FREE Home Seller Guide: “Things To Consider When Selling Your House”
THINKING OF SELLING YOUR HOME?
CHECK OUT THE COLDWELL BANKER MARKETING ADVANTAGE
Median Home Price Trends In Waxhaw | Weddington | Marvin
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 for 24+ 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 why experience matters and how:
“The Right Broker Makes All The Difference.”
