The Waxhaw area housing market remained a seller’s market in March 2021 with continued significant decreases in inventory. With 70.6% less inventory year-over-year and fewer new listings, average days on market decreased and home prices sky-rocketed. All of this kept the Waxhaw area a home sellers’ market.
Waxhaw (28173 Zip Code) Home Sales Report: March 2021
Latest news on the Waxhaw area (28173 zip code) real estate market in March and what it means for you…
The Waxhaw area of the Charlotte, North Carolina metro area (the 28173 zip code–encompassing the three towns of Waxhaw, Marvin and Weddington) continued to see tight inventory (dropping 74.3% year-over-year) in March 2021, coupled with a 30.1% decrease in new listings year-over-year.
Average days on market decreased 17 days to 42 days year-over-year. Days on market also decreased 26 days versus February 2021. Median days on market were 4 days in March, down 8 days year-over-year and down 22 days month-over-month.
Continued tight inventory and a months supply of homes of 0.7 months (a 2.8 month’s drop from 3.5 months one year ago), kept the Waxhaw area a seller’s market.
With homesellers receiving a median 100% of list price (up 1.3% year-over-year) there was less room for home buyers to negotiate in March 2021 than in the same month the previous year. And with half of the homes sold selling at 100% of asking price or more, there was no negotiating room at all.
Home sale prices (median [$415,000] and average [$529,940]) in March increased 36.9%, on average, and increased 17.3% for median home prices year-over-year.
Price per square foot increased 20.6% to $164/square foot (up $28/square foot) in March versus the same month one year ago.
Closed sales increased 22.6% while pending sales increased 4.3% in March 2021 compared with the same month one year ago.
Want to know what this would mean for your family if you decide to buy or sell a Waxhaw area home?
Median Home Price Trends In Waxhaw | Weddington | Marvin
This Charlotte, North Carolina real estate monthly update for Waxhaw, Weddington, Marvin is provided by Nina Hollander and Carolinas Realty Partners, Coldwell Banker Realty, your Greater Charlotte area residential real experts and Waxhaw/Weddington/Marvin area specialists. We’ve been opening doors for Waxhaw area home buyers and sellers for 20+ years.
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 how: