Update For Waxhaw/Weddington/Marvin Housing Markets

 

Waxhaw/Weddington/Marvin, NC Housing Market Update For July 2017July 2017 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)--continued on the strong path we've seen year-to-date with home prices up, closed and pending sales up, and days on market down.

 

The average sale price of Waxhaw area homes increased in July 2017 by 3.7% to just over $440,000 versus July 2016 (and also up versus the previous month of June 2017).

 

Average days on market for property listings dropped by 3 days to 66 days, a 4.3% improvement over the same period last year.  Median days on market also dropped 4 days to 27, an 12.9% improvement in July 2017.

 

Average price per square foot increased by 43.2% to $128/square foot during July 2017 versus July 2016.

 

Closed sales in Waxhaw/Weddington/Marvin areas increased double digits by 15.4% in July 2017 as compared with July 2016.  Closed sales of new construction increased an astonishing 58.4% versus a 2.0% increase in resale homes in July 2017 compared with July 2016. Pending sales were up  8.2% versus July 2016 with a 22.0% increase in new construction pending sales versus a 4.0% increase in pending sales of resale homes. Clearly, new construction remains very much a driving force in Waxhaw area home sales.

 

The average percent of original list price that sellers received for their homes was 96.2%, showing little negotiating room for Waxhaw area homes for a third year in a row. Median percent of original list price came in at 97.5%.

 

The Waxhaw area's months supply of homes was down 10.7% to 5 months with new listings up 4.4% versus July 2016. Factoring out new construction, the month's supply of homes is only 3.5 months, down 7.9% versus July 2016. 

 

Average sale prices for new construction were just over $495,000 in July 2017. The average sale price of a new construction home was about $56,174 higher than that of a resale home in July 2017.  Average price of a resale home was up 4.8% in July 2017 as compared with one year ago.... a testament to the shortage of resale homes for sale.

 

Waxhaw/Weddington/Marvin Area Local Market Update - July 2017

 

 

 

 

 

 

 

 You might also want to check out 10 of the hottest selling neighborhoods to watch in Union County in 2017.

 

SEARCH ALL WAXHAW | WEDDINGTON | MARVIN AREA HOMES

 

WONDERING WHAT YOUR WAXHAW AREA HOME IS WORTH?

 

Previous Waxhaw |Weddington |Marvin Area Housing Market Updates:

 

Waxhaw/Weddington/Marvin Housing Market Update: June 2017

Waxhaw/Weddington/Marvin Housing Market Update: May 2017 

 Waxhaw/Weddington/Marvin Housing Market Update: April 2017

 Waxhaw/Weddington/Marvin Housing Market Update: March 2017

Waxhaw/Weddington/Marvin Housing Market Update: February 2017

Waxhaw/Weddingt/Marvin Housing Market Update: January 2017

Waxhaw/Weddingt/Marvin Housing Market Update: December 2016

Waxhaw/Weddingt/Marvin Housing Market Update: November 2016

Waxhaw/Weddingt/Marvin Housing Market Update: October 2016

Waxhaw/Weddingt/Marvin Housing Market Update: September 2016

Waxhaw/Weddingt/Marvin Housing Market Update: August 2016

Waxhaw/Weddingt/Marvin Housing Market Update: July 2016

 

This Charlotte, North Carolina real estate monthly update for Waxhaw, Weddington, Marvin is brought to you courtesy of Nina Hollander and Carolinas Realty Partners, RE/MAX Executive, your Charlotte metro area real estate consultants. 

 

If you are considering selling or purchasing a home in the Charlotte metro area, I would love an opportunity to earn your business, exceed your expectations, and to prove to you that:

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