The Waxhaw area housing market remained a seller’s market in October 2020 with continued decreases in inventory. With 51.3% less inventory, home sale prices increased and days on market decreased. The median percent of asking price that home sellers realized also increased. All of this kept the Waxhaw area a home sellers’ market.
Waxhaw (28173 Zip Code) Home Sales Report: October 2020
Latest news on the Waxhaw area (28173 zip code) real estate market in October 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 51.3% year-over-year) in October 2020, coupled with a decrease of 3.3% in new listings year-over-year.
Average days on market decreased 31 days to 39 days year-over-year. Median days on market were 7 days in October, down 31 days year-over-year.
Continued tight inventory and a months supply of homes of 1.6 months (a 2.1 month’s drop from 3.7 months one year ago), kept the Waxhaw area a seller’s market.
With homesellers receiving a median 100% of list price (up 3.7% year-over-year) there was less room for home buyers to negotiate in October 2020 than in the previous year.
Home sale prices (median [$481,000] and average [$557,121]) in October increased 29.7%, on average, and 30.4% for median home prices year-over-year. Price per square foot increased 12% to $159/square foot (up $17/square foot) in October versus the same month one year ago.
Closed sales increased 33.9% and pending sales increased 19.7% in October 2020 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 Charlotte metro 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: