Waxhaw Real Estate May 2024
Waxhaw Real Estate May 2024 | What To Know Now
Waxhaw area real estate May 2024 saw the average home sale price increase month-over-month (+12.08%) and year-over-year (+31.67%) Median home sale price declined (-7.5%) from one month ago and increased (+11.98%) from one year ago. Sales improved in May 2024 by 24.29% from the previous month, but declined 2.25% from May one year ago. The list to sale price ratio was just under 102% in May 2024 and unchanged from May 2023. Average days on market remained under one month (22 days) for a third consecutive month. Inventory of homes for sale increased month-over-month and year-over-year to its highest level since July 2022. New listings increased month-over-month and year-over-year to their highest level since November 2022. Months supply of inventory declined from one month ago and at 4.45 months kept the Waxhaw area a balanced market between home buyers and sellers.
WAXHAW REAL ESTATE HIGHLIGHTS: MAY 2024
WAXHAW HOME PRICES STRONG
The median sale price in May 2024 was $715,000, down 7.5% from $773,000 in the previous month of April. The median sale price was 11.98% higher than $638,500 in May one year ago. The median sale price in May 2024 was at its highest level compared May 2023 and 2022.
The average sale price in May 2024 was $972,002, up 12.08% from $867,213 in the previous month of April 2024. The average sale price in May 2024 increased 31.67% from $738,228 in May one year ago. The average sale price in May 2024 was its highest compared with May 2023 and 2022.
Price per square foot was $250 in May 2024, unchanged from one month ago and increasing 10.13% from $227 in May one year ago.
WAXHAW HOMES’ LIST TO SALE PRICE RATIO JUST UNDER 101%
The May 2024 list to sale price ratio was 100.9%, up slightly from 100.75% in the most recent month of April 2024. May’s list to sale price ratio was also equal to that in May one year ago. Waxhaw area buyers did not see big opportunities to negotiate on price in May 2024.
WAXHAW HOMES’ AVERAGE DAYS ON MARKET UNDER ONE MONTH FOR A THIRD CONSECUTIVE MONTH
Average days on market in May 2024 were 22 days, up 7 days from 15 days in in the previous month. Compared with May 2023, average days on market increased 3 days from 19 days. Compared with May 2022, average days on market were 15 days higher in 2024.
WAXHAW SALES UP MONTH-OVER-MONTH | DOWN SLIGHTLY YEAR-OVER-YEAR
Sales improved in May 2024 to 87, up 24.29% from 70 sales in the previous month and down 2.25% from May 2023 (89 sales). Compared with May 2022, this year saw 18 fewer sales. May’s sales in 2024 were at their highest level since August 2023, which saw 94 sales.
WAXHAW HOUSING INVENTORY UP MONTH-OVER-MONTH & YEAR-OVER-YEAR
Inventory of homes for sale in May 2024 stood at 387 properties, up 9.63% from 353 properties for sale one month ago. Inventory was 23.64% higher than in May one year ago (313 properties for sale). Inventory was higher compared with May 2022 (303 properties for sale). The May 2024 inventory was at its highest level compared with May 2023 and 2022. Inventory in May 2024 was at its highest level since November 2022 when there were 394 properties for sale.
The months supply of inventory declined from 5.03 months in April to 4.45 months in May. At 4.45 months supply of inventory, Waxhaw remained a balanced market between home sellers and buyers in May 2024.
NEW LISTINGS UP A FIFTH CONSECUTIVE MONTH
The number of new listings in May 2024 was 141, up 25.89% from 112 new listings one month ago. New listings were 11.02% higher than the 127 new listings in May 2023. Compared with May 2022, new listings in 2024 were higher by four properties. New listings in May 2024 were at their highest level since July 2022 which saw 156 new listings.
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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…
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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: 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 Waxhaw Real Estate Report: July 2023
Waxhaw Real Estate Report: June 2023 Waxhaw Real Estate Report: May 2023
