Waxhaw Real Estate December 2020
Waxhaw real estate December 2020 remained a seller’s market with continued decreases in inventory. With 60.8% less inventory despite an increase in new listings, average home sale prices increased and days on market decreased. All of this kept the Waxhaw area a home sellers’ market.
Waxhaw Real Estate December 2020 Report
Latest news on the Waxhaw area (28173 zip code) real estate market in December 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, Marvin and Weddington) continued to see tight inventory (dropping 60.8% year-over-year) in December 2020, despite a 96% increase in new listings year-over-year.
Average days on market decreased 3 days to 53 days year-over-year. Median days on market were 18 days in December, down 8 days year-over-year. New construction in Waxhaw keeps the average days on market seemingly high.
Continued tight inventory and a months supply of homes of 1 month (a 2.1 month’s drop from 3.1 months one year ago), kept the Waxhaw area a seller’s market.
With home sellers receiving a median 99.3% of list price (up 0.9% year-over-year) there was less room for home buyers to negotiate in December 2020 than in the previous year.
Home sale prices (median [$395,063] and average [$501,498]) in December increased 3.7%, on average, and decreased 4.9% for median home prices year-over-year. The decrease in median home sale prices is not reflective of lower home values in the Waxhaw area. Rather it’s a function of the price mix of homes sold in December.
Price per square foot increased 9.7% to $158/square foot (up $14/square foot) in December versus the same month one year ago.
Closed sales increased 29.5% and pending sales increased 41% in December 2020 compared with the same month one year ago.
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Waxhaw Real Estate Highlights
December 2020 vs December 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 Waxhaw real estate December 2020 update is provided by Nina Hollander, Coldwell Banker Realty, Greater Charlotte residential real expert and Waxhaw/Weddington/Marvin area specialists. 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:
“The Right Broker Makes All The Difference.”
