Waxhaw real estate January 2019: Home sales in the Waxhaw area of the Charlotte, North Carolina metro area (the 28173 zip code–encompassing the three towns of Waxhaw, Marvin and Weddington) saw a change in the trends of 2018 with both home prices and price per square foot decreasing in January 2019, while new listings increased by 50.8% after decreasing by double digits in December 201 . Nonetheless, housing Inventory remains low, especially in affordable homes. With pending sales increasing by 21.6% in January 2019, it remains to be seen if this is the start of a new trend or a “winter respite.”
Waxhaw Real Estate January 2019: Video Update
Waxhaw Real Estate January 2019 Remained A Home Seller’s Market
Average sale price of Waxhaw area homes decreased in January 2019 by 14.7% to just under $405,000 compared with the same period one year ago. Prices of resale homes which had been steadily increasing in 2018, dropped by 10% in January, while new construction home sale prices dropped by 9.1% in January.
Median sale price for Waxhaw area homes in January 2019 decreased by 18.5% versus one year ago to $335,000.
Average days on market for property listings in Waxhaw area were 66 days in January 2019 (up 9 days compared with one year ago).
Median days on market dropped to 32 days in January 2019 (down 3 days compared with one year ago). This is the second month in a row that median days on market in the Waxhaw area have dropped.
Average price per square foot for Waxhaw area homes decreased by $6 per square foot to $129/square foot in January 2019 versus the same period in 2018.
Pending salesin Waxhaw area increased 21.6% in January 2018 versus the same month last year. This increase reversed the 19.7% decrease of the prior month.
Closed sales in Waxhaw area decreased 7.1% in January compared with the same month one year ago. However, this decrease was an improvement on the decrease of 36.9% the prior month. Lack of affordable inventory no doubt contributes to the ongoing drop in closed sales.
New listings in Waxhaw area increased 50.8% versus January 2018.
Months supply of inventoryremained low at 3.8 months, down 7.3% versus January 2018. Resale inventory was down 13% to just 2 months of housing supply. New construction inventory stood at 4.5 months in January 2019. down 4.3% compared with January 2018.
Percent of original list price sellers received for their homes was 94.5%, showing a bit of negotiating room in the 28173 zip code for Waxhaw/Weddington/Marvin homes.
Average sale price for new construction homes in the Waxhaw area was $445,758 in January 2019. Average sale price of new construction homes was just over $12,000 higher than that of a resale home in January 2019.
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