Waxhaw Housing Market Update for March 2019. 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 coupled with a double digit decrease in new listings year-over-year, impacting sales negatively. On the positive side, pending sales improved by double digits compared with the same time period one year ago. Days on market, both average (also down by double digits) and median, were lower compared with March 2018.
Video Update For The Waxhaw Housing Market: March 2019
Waxhaw, NC Remained A Seller’s Market in March 2019
Average sale price of Waxhaw area homes decreased in March 2019 by 8.5% to just over $425,000 compared with the same period one year ago. Most of this decrease stemmed from new construction home sales. By the same token, the average sale price in March increased versus the prior months of February and January 2019.
Median sale price for Waxhaw area homes in March 2019 decreased 9.4% versus one year ago to $379,200. However, median home sale prices increased in March over February and January 2019.
Average days on market for property listings in Waxhaw area were 74 days in March 2019 — down 13 days compared with one year ago.
Median days on market dropped to 27 days in March 2019 (down 5 days compared with one year ago). This is the fourth consecutive month that median days on market in the Waxhaw area have dropped.
Average price per square foot for Waxhaw area homes increased by $2 per square foot to $134/square foot in March 2019 versus the same period in 2018,
Pending salesin Waxhaw area increased 17.1% in March 2019 versus the same month last year.
Closed sales in Waxhaw area decreased 13.1% in March 2019 compared with the same month one year ago.
New listings in Waxhaw area decreased 17.3% versus March 2018.
Months supply of inventory stood at 3.9 months, down 11.4% versus March 2018. However inventory of resale homes was just 2.5 months and resale home inventory was down 11.6% year-over-year.
Percent of original list price sellers received for their homes was 97.5%, showing little negotiating room in the 28173 zip code for Waxhaw/Weddington/Marvin homes.
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This Charlotte, North Carolina real estate monthly update for Waxhaw is brought to you by Nina Hollander and Carolinas Realty Partners with Coldwell Banker Residential Brokerage, your Waxhaw/Weddington/Marvinspecialists and Charlotte metro area residential real estate experts. We’ve been opening doors for Waxhaw, Weddington, and Marvin home buyers and sellers for 20+ years.
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