Waxhaw Real Estate August 2024
Waxhaw Real Estate August 2024 | What To Know Now
Waxhaw area real estate August 2024 saw median and average sale prices increase both month-over-month and year-over-year. Sales declined a second consecutive month to their lowest level compared with August 2023 and August 2022. The list to sale price ratio of 99.64% in August 2024 provided Waxhaw area home buyers minimal opportunity to negotiate on price. Average days on market remained below one month (23 days) for a sixth consecutive month. Inventory of homes for sale increased a seventh consecutive month to its highest level in the past three years. New listings declined in August for a third consecutive month, but were higher than in August one year ago. Months supply of inventory increased to 5.35 months in August, pushing Waxhaw into a balanced market between home buyers and home sellers.
WAXHAW REAL ESTATE AUGUST 2024 HIGHLIGHTS
WAXHAW HOME PRICES UP YEAR-OVER-YEAR & MONTH-OVER-MONTH
The median sale price in August 2024 was $769,950, up 6.2% from $725,000 in the previous month of July. The median sale price was 14.07% higher than $675,000 in August one year ago. The August 2024 median sale price was at its highest compared with August 2023 and 2022.
The average sale price in August 2024 was $887,958, up 12.88% from $786,638 in the previous month of July 2024. The average sale price in August 2024 was 16.44% higher than the $762,560 in August one year ago. The average sale price in August 2024 was at its highest compared with August 2023 and 2022.
Price per square foot was $253 in August 2024, up 2.43% from $247 from one month ago and increasing 4.55% from $242 in August one year ago.
WAXHAW HOMES LIST TO SALE PRICE RATIO JUST UNDER 100%
The August 2024 list to sale price ratio was 99.64%, flat compared with July and June 2024. August’s list to sale price ratio declined from 100.73% in August one year ago. Waxhaw area buyers did not see significant opportunities to negotiate on price in August 2024.
WAXHAW HOMES AVERAGE DAYS ON MARKET BELOW ONE MONTH A 6th CONSECUTIVE MONTH
Average days on market in August 2024 were 23 days, up two days from one month ago. Compared with August 2023, average days on market were one day higher this year. Compared with August 2022, average days on market were 11 days higher in 2024.
WAXHAW SALES DOWN A SECOND CONSECUTIVE MONTH
Sales declined in August 2024 to 84, down 18.45% from 103 sales in the previous month. August 2024 sales were also 10.64% lower compared with August 2023 (94 sales). Compared with August 2022, the current year saw 34 fewer sales.
WAXHAW HOUSING INVENTORY UP A 7th CONSECUTIVE MONTH
Inventory of homes for sale in August 2024 stood at 449 properties, up 2.05% from 440 properties for sale one month ago. Inventory was 34.43% higher than in August one year ago (334 properties for sale). Inventory was also higher compared with August 2022 (379 properties for sale). Inventory in August 2024 was at its highest level in the past three years.
The months supply of inventory increased from 4.25 months in July to 5.35 months in August. At 5.35 months supply of inventory, the Waxhaw housing market has moved into a balanced market between home buyers and sellers.
NEW LISTINGS DECLINED A THIRD CONSECUTIVE MONTH
The number of new listings in August 2024 was 108, down 6.09% from 115 new listings one month ago. New listings were 31.71% higher than the 82 new listings in August 2023. August 2024 and August 2022 new listings were equal.
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FIND OUT MORE ABOUT THE WAXHAW | WEDDINGTON | MARVIN AREAS AND WHY PEOPLE LOVE LIVING THERE
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:
PREVIOUS WAXHAW REAL ESTATE REPORTS
Waxhaw Real Estate Report: July 2023
Waxhaw Real Estate Report: June 2023 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 Waxhaw Real Estate Report: September 2023
Waxhaw Real Estate Report: August 2023
