Waxhaw (28173 zip code) real estate report/snapshot: July 2019. The Waxhaw area of the Charlotte, North Carolina metro area (the 28173 zip code–encompassing the three towns of Waxhaw, Marvin and Weddington) continued to see tight inventory (dropping 24.5% year-over-year) and a continued decrease (down 3%) in new listings year-over-year. With continued tight inventory and fewer new listings, Waxhaw area remains a seller’s market. Lack of inventory has driven up home prices — 8.1% for resale home year-over-year. July 2019 saw both closed and pending sales up.
Waxhaw Housing Market Snapshot: July 2019
Average sale price of Waxhaw area homes increased in July 2019 by 3.1% to just under $514,000 compared with the same period one year ago. The increase was also almost $70,000 higher than the average sale price the prior month of June 2019. Resale home prices increased 8.1% year-over-year in July 2019.
Median sale price for Waxhaw area homes in July 2019 increased 8.8% versus one year ago to $449,755. This was a $90,000 median price increase over the prior month of June 2019.
Average days on market for property listings in Waxhaw area were 48 days in July 2019 — down 1 day year-over-year, but down 3 days month-over-month.
Median days on market were 24 days in July 2019 — down 1 day compared with one year ago.
Average price per square foot for Waxhaw area homes increased 3% per square foot to $137/square foot in July 2019 versus the same period in 2018,
Pending salesin Waxhaw area increased 15.5% in July 2019 versus the same month last year.
Closed sales in Waxhaw area increased 6.5% in July 2019 compared with the same month one year ago.
New listings in Waxhaw area decreased 3% in July 2019 versus July 2018.
Months supply of inventory was 3.6 months, down 26.5% versus July 2018. Resale inventory was down in July 2019 by 24.5% compared with July 2018, and new construction inventory decreased 51.1%.
Percent of original list price sellers received for their homes was 98.3%, providing little negotiating room in the 28173 zip code for homes in Waxhaw, Weddington, and Marvin in July 2019.
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This Charlotte, North Carolina real estate monthly update for Waxhaw is brought to you by Nina Hollander and Carolinas Realty Partners with Coldwell Banker Residential Brokerage, your Waxhaw/Weddington/Marvinspecialists and Charlotte metro area residential real estate experts. We’ve been opening doors for Waxhaw, Weddington, and Marvin home buyers and sellers for 20+ years.
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