Waxhaw Real Estate January 2024

Waxhaw Real Estate: January 2024 | What To Know Now

Waxhaw area real estate January 2024 saw both the median and average home sale prices increase substantially year-over-year and month-over-month. Closed sales declined to their lowest level in three years.  The list to sale price ratio declined to 97.47% giving buyers their first opportunity to negotiate on price in some three years. Days on market increased from December, but were lower than in January one year ago. January 2024 saw the lowest level of  housing inventory since May 2022. New listings increased after eight consecutive months of decline, but were still lower than in January one year ago. The Waxhaw area housing market moved into a buyer’s market with 8.94 months of inventory.

 

WAXHAW REAL ESTATE HIGHLIGHTS: JANUARY 2024

Waxhaw area (28173 zip code) housing market trends in January 2024

 

WAXHAW HOME PRICES UP

The median sale price in January 2024 was $790,000, up 37.39% from $575,000 in the previous month of December. Median sale price was 49.06% higher than the $530,000 price in January 2023. The median home sale price in January was at its highest level compared with January 2023 and 2022. Some of this increase is attributable to the price mix of homes sold in the Waxhaw area.

 

The average sale price in January 2024 was $921,193 up 15.10% from $800,330  in December 2023. The average sale price in January 2024 improved 49.18% from $617,518 in January 2023. The average sale price in January 2024 was its highest compared with January 2023 and 2022. As with the median sale price, some of this increase is attributable to the price mix of homes sold in the Waxhaw area.

 

Price per square foot was $233 in January 2024, up 14.22% from $204/square foot in January 2023 and increasing 1.3% from $230 in December 2023.

 

 

WAXHAW HOMES LIST TO SALE PRICE RATIO AT ITS LOWEST LEVEL IN 3 YEARS

The January 2024 list to sale price ratio was 97.47%, down from 98.96% in the previous month of December and down from 98.94% from January one year ago. This was the lowest list to sale price ratio Waxhaw has seen in three years. Buyers finally saw a bit of a window opening to negotiate.

 

 

WAXHAW HOMES’ AVERAGE DAYS ON MARKET UP MONTH-OVER-MONTH, DOWN YEAR-OVER-YEAR

Average days on market in January 2024 were 41 days, increasing 12 days from 29 days in December. Compared with January 2023, average days on market decreased three days from 44 days. Compared with January 2022, average days on market were 27 days higher in 2024. 

 

 

WAXHAW SALES DECLINED TO THEIR LOWEST LEVEL IN 3 YEARS

Closed sales declined in January 2024 to 34, down 30.61% from 49 sold properties in December and down 45.16% from 62 sold properties in January 2023. The January 2024 sales were at their lowest level compared with January 2023 (62 sales) and January 2022 (65 sales). This was the lowest level of sales in Waxhaw in three years.

 

 

WAXHAW HOUSING INVENTORY DOWN 

Inventory of homes for sale in January 2024 stood at 304 properties, down 1.3% from 308 properties in the month of December. Inventory was 10.85% lower than in January one year ago. Inventory was lower compared with January 2023 (341 properties for sale), but higher than in January 2022  (297 properties for sale). This was the lowest level of inventory in Waxhaw since May 2022, which had 303 properties for sale. With a month’s supply of inventory of 8.94 months, Waxhaw area moved into buyer market territory in January.

 

 

NEW LISTINGS INCREASED AFTER 8 CONSECUTIVE MONTHS OF DECLINE

The number of new listings in January 2024 was 59, increasing 84.38% from 32 new listings in December, which saw the lowest number of new listings in 12 months. New listings were 7.27% lower than the 55 new listings in January 2023. 

 

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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 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…

HOT NEIGHBORHOODS IN THE WAXHAW AREA

 

 

SEARCH WAXHAW | WEDDINGTON | MARVIN AREA HOMES

 

 

FREE Home Buyer Guide: “Things To Consider When Buying A Home,”

 

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Median Home Price Trends In Waxhaw | Weddington | Marvin

Rolling 12 Months

 

 

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:

 “The Right Broker Makes All The Difference.”

 

 

PREVIOUS WAXHAW REAL ESTATE REPORTS

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    Waxhaw Real Estate Report: July 2023

Waxhaw Real Estate Report: June 2023    Waxhaw Real Estate Report: May 2023

Waxhaw Real Estate Report: April 2023    Waxhaw Real Estate Report: March 2023

Waxhaw Real Estate Report: February 2023    Waxhaw Real Estate Report January 2023

 

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