Union County Real Estate Talk

The 2011 Waxhaw NC Real Estate Market--Five Facts

It's time to look at the real estate market in Waxhaw NC and to assess how home buyers and home sellers fared in 2011.

Here are five facts about the Waxhaw marketplace in 2011.

1. Nearly half of all closings in 2011 were new construction.
2. The median closed price for all single family homes in 2011 was $235,000.  This represents the lowest median price in the last four years and almost a 25% decline since 2008.
3. The number of single family homes sold in 2011 was similar to 2008 levels.
4. Distressed sales accounted for roughly 30% of 2011 closings.
5. The townhome market is very small in Waxhaw.  There were only six sales in one development during the year.

What do these five facts mean for Waxhaw buyers and sellers?

• Waxhaw is a very attractive place for builders who are seeing good demand for their homes.
• Buyers can find good values in new homes because new construction prices in Waxhaw are the most affordable in years.
• Resale sellers may have difficulty selling their homes in the face of all the competition from new homes and distressed sales.

Want to learn more about the real estate market in Waxhaw and see all the numbers for each of the past four years? Want to know where the most active Waxhaw neighborhoods were in 2011? Click on the link below.

Waxhaw NC Real Estate Market Report—Year 2011

Copyright 2012. Carol Fox. Allen Tate Realtors. *The 2011 Waxhaw NC Real Estate Market--Five Facts*

Barrington in Waxhaw NC Real Estate Market Report—2011 Year-to-Date Review

Barrington is a popular new construction neighborhood in Waxhaw NC.  Nearing completion, the Barrington community is a great place to find full brick homes.  Neighborhood residents enjoy community amenities including a clubhouse, two pools, a playground and walking trails.

Barrington Real Estate Market Comparison

A detailed comparison of the 2011 year-to-date real estate market in Barrington can be found in the tables below.  What can Barrington buyers and sellers learn from these statistics?

1. There were only two resales in Barrington in 2011.  Resale sellers will have to compete with new construction homes until the neighborhood is complete.  This means that the resales will have to be in tip top condition and priced competitively.
2. Barrington is a good neighborhood for buyers who wish to purchase a full-brick new or nearly new home.  Prices have risen in the neighborhood since 2010.

Single Family Homes

Source: Carolina Multiple Listing Service

Barrington Types of Closed Sales

Most of the 2011 sales were new construction. 

Source: Carolina Multiple Listing Service

Copyright 2011. Carol Fox. Allen Tate Realtors. *Barrington in Waxhaw NC--2011 Year-to-Date Market Report*

Lawson in Waxhaw NC Real Estate Market Report—2011 Year-to-Date Review

2011-11-14

Lawson is a planned community in historic Waxhaw NC.  Distinct villages are arranged around common areas and walking trails.  Cuthbertson Middle and High Schools are located near the neighborhood.

Lawson Real Estate Market Comparison

A detailed comparison of the 2011 year-to-date real estate market in Lawson can be found in the tables below.  What can Lawson buyers and sellers learn from these statistics?

1. Forty five percent of the sales in Lawson year-to-date are new construction.  Several new builders entered the neighborhood building at a price point lower than previous neighborhood builders.  These sales combined with several foreclosures and short sales accounted for a drop in the 2011 median sales price compared with previous years.
2. With lower prices, Lawson remains an attractive neighborhood for buyers.

Single Family Homes

Source: Carolina Multiple Listing Service

Lawson Types of Closed Sales

Source: Carolina Multiple Listing Service

Read more about Lawson, its community amenities, builders and public schools: Lawson in Waxhaw NC: Homes for Sale and Community Profile

Lawson Homes for Sale

Click here to see Lawson homes for sale.

Ever wonder what your Lawson home is worth?

Click here to receive a free market evaluation.

Copyright 2011.  Carol Fox.  Allen Tate Realtors. *Lawson in Waxhaw NC Real Estate Market Report—2011 Year-to-Date Review*

Waxhaw NC Real Estate Market Report—July-September 2011

The number of homes sold in Waxhaw NC during the third quarter dropped almost 50% from the second quarter but the median sales price increased by 1.3% to $250,000.  This is just slightly less than the median sales price for 2010.

Only three townhomes sold in Waxhaw during the quarter with the median sales price dropping 11.5% to $109,900.  Median days on market for these townhomes was nearly a year.

What do the third quarter 2011 numbers mean for Waxhaw NC buyers and sellers?

• Single family home sellers in have seen fairly stable median prices over the spring and summer of 2011.  Townhome sellers face a difficult market with plummeting prices and long selling times.
• Housing, both single family and townhomes, remains very affordable for buyers in Waxhaw. 

Single Family Homes

Source: Carolina Multiple Listing Service

Townhomes and Condominiums

Source: Carolina Multiple Listing Service

Most Active Neighborhoods in Waxhaw NC Third Quarter 2011

The following neighborhoods had the most sales activity during the third quarter. Click on the neighborhood for more information and a list of homes for sale.

Copyright 2011. Carol Fox. Allen Tate Realtors. *Waxhaw NC Real Estate Market Report—July-September 2011*

Cureton in Waxhaw NC Real Estate Market Report—2011 Mid-Year Review

Located in historic Waxhaw NC, Cureton is a 380-acre mixed use development where you can find a single family home or a townhome.  Cureton residents can use the 4000 square foot amenity center with water park and community lake or walk to the nearby community shopping center with grocery store, restaurants and banks.

Cureton Real Estate Market Comparison

A detailed comparison of the 2011 year-to-date real estate market in Cureton can be found in the tables below.  What can Cureton buyers and sellers learn from these statistics?

1. Both single family and townhome prices have continued to drop in 2011.  Single family median prices are down 3.8% from 2010 while townhome prices are down 16.8%.  I believe that single family prices are down this year because of the significant number of foreclosures and short sales.  Most townhome sales have been new construction indicating that builders have lowered their prices.
2. Single family homes have the roughly the same median days on market and median list to sale ratio as 2010.  Townhomes, however, are taking longer to sell in 2011 and the median list to sale ratio has dropped to 91%.
3. New construction makes up over 70% of the townhome market in 2011 and a third of the single family market.
4. Foreclosures and short sales are 50% of the single family market, probably reflecting the fact that Cureton construction began at the height of the housing boom.

Single Family Homes

Source: Carolina Multiple Listing Service

Townhomes

Source: Carolina Multiple Listing Service

Cureton Sales Types

Source: Carolina Multiple Listing Service

Source: Carolina Multiple Listing Service

Read more about Cureton, its community amenities, builders and public schools: Cureton in Waxhaw NC: Homes for Sale and Neighborhood Profile.

Cureton Homes for Sale

Click here to see Cureton homes for sale.

Ever wonder what your Cureton home is worth?

Click here to receive a free market evaluation.

Copyright 2011.  Carol Fox.  Allen Tate Realtors. *Cureton in Waxhaw NC Real Estate Market Report—2011 Mid-Year Review*

Waxhaw NC Real Estate Market Report—April-June 2011

Historic downtown Waxhaw NC is the hub for the surrounding community of historic homes, new subdivisions and rural, large lot homesteads.  The second quarter Waxhaw NC real estate market showed a dramatic improvement over the first.  For single family homes, the median sales price was up 14.6%, the number of closings increased 166%, and median days on the market dropped 37.5%.  With only two townhome/condominium sales during the quarter, statistics are not reliable.  The median sales price of these two units with down about 16% from 2010 numbers.

What do the second quarter 2011 numbers mean for Waxhaw NC buyers and sellers?

• Sellers in Waxhaw may find the market improving as more buyers mean stabilizing prices and fewer days on market.
• Buyers for properties in Waxhaw may gain confidence from increasing prices and sales.

Single Family Homes

Source: Carolina Multiple Listing Service

Townhomes and Condominiums

Source: Carolina Multiple Listing Service

 Most Active Neighborhoods in Waxhaw NC  Second Quarter 2011

The following neighborhoods had the most sales activity during the second quarter. Click on the neighborhood for more information and a list of homes for sale.

Copyright 2011.  Carol Fox.  Allen Tate Realtors.  *Waxhaw NC Real Estate Market Report—April-June 2011*

Waxhaw NC Real Estate Market Report—January-March 2011

Lower-priced homes dominated the market in Waxhaw NC during the first quarter of 2011.  The median sales price of $215,000 was 15.5% lower than the median price for 2010.  The highest single family sales price during the first quarter was $352,500.  Twenty one homes sold during this period.  Only one townhome sold during the first quarter of 2011.

What do the first quarter 2011 numbers mean for Waxhaw buyers and sellers?

• Waxhaw sellers face a continued downward pressure on home pricing.  First quarter buyers were looking for homes in the lower price ranges. 
• Buyers for properties in Waxhaw may be able to find the best pricing and values for many years.

Single Family Homes

Source: Carolina Multiple Listing Service

Townhomes and Condominiums

Source: Carolina Multiple Listing Service

Most Active Neighborhoods in Waxhaw NC  First Quarter 2011

The following neighborhoods had the most sales activity during the first quarter.  Click on the neighborhood for more information and a list of homes for sale.

Cureton

Lawson

Prescot

Quellin

Copyright 2011.  Carol Fox.  Allen Tate Realtors.  *Waxhaw NC Real Estate Market Report—January-March 2011*

Waxhaw NC Real Estate Market Report—Year 2010

How did the Waxhaw NC real estate market fare during 2010 and how did 2010 market activity compare with 2009 and 2008?

The tables below compare the Waxhaw NC real estate market for years 2008 through 2010.  172 single family homes and 8 townhomes closed in Waxhaw in 2010.  The highest priced single family home sale was $625,000.  The highest priced townhome sale was $155,915.  Median days on the market jumped for  both single family homes and townhomes.  The increase in townhome median days reflected the fact that more new construction closed in 2009 than in 2010.  New construction sales are often reported with just a few days on market.  The median list to sale ratio in 2010 was 97% for single family homes and 95% for townhomes.

Single Family Homes in Waxhaw NC

The median sales price in Waxhaw was down 2% from 2009 and 18.5% from 2008.  Much of the real estate market in Waxhaw consists of new construction.  The median closed price in 2008 reflects the pricing of new construction before the recession.  By 2010, prices on new construction had reset to lower numbers causing the large median price drop from 2008. The number of homes sold increased 8.1% from 2009 to 2010, bringing 2010 numbers close to 2008 numbers.  Median days on the market were up 128% from 2009.

Source:  Carolina Multiple Listing Service

Townhomes and Condominiums in Waxhaw NC

The number of townhomes sold in Waxhaw during 2010 decreased 55% from 2009.  The median sales price in 2010 was off 2.4% from 2009.  Median days on the market increased in 2010.

Source:  Carolina Multiple Listing Service

Most Active Neighborhoods in Waxhaw NC

The most active Waxhaw NC neighborhoods in 2010 are listed below.  Click on each neighborhood to get a detailed description of the neighborhood, a summary of 2009 and 2010 real estate activity and to search for current homes for sale.

Copyright 2011.  Carol Fox.  Allen Tate Realtors.  *Waxhaw NC Real Estate Market Report—Year 2010*

Waxhaw NC Home Sales and Best Buys—December 2010 Update

This is a summary of home sales transactions in Waxhaw NC in the last month.  It includes statistics on closed listings, properties that have gone under contract, and current best buys.  Best buys are those properties that have had the greatest price reductions in the past two weeks on a percentage basis.

Properties under contract are the best indicators of the current Waxhaw NC real estate market as these are properties recently chosen for purchase.  Closed transactions represent the marketplace of 30 to 90 days ago.  The tables below show an increase in the median and average sales price for “under contract” properties versus those that have closed in the last month.  The average and median days on market for closings was much shorter than those for properties “under contract”.

Waxhaw NC Home Sales—Best Buys

  1724 Ridgehaven RD  Waxhaw, NC 28173  $219,154  4 Beds  0.25 Acres   MLS#: 982151
VIEW | SAVE

The Ryland Group, Inc.

  3317 Bridgewick RD  Waxhaw, NC 28173  $219,900  4 Beds  0.24 Acres  MLS#: 970405
VIEW | SAVE

Essex Homes Southeast NC Inc.

 Source:  Carolina Multiple Listing Service IDX

Waxhaw NC Home Sales—Properties Under Contract

Source:  Carolina Multiple Listing Service

Waxhaw NC Home Sales—Closed Transactions

Source:  Carolina Multiple Listing Service

Want to know more about real estate and living in Waxhaw NC?  Visit www.CarolinaSmallTownLiving.com.

Copyright 2010.  Carol Fox.  Allen Tate Realtors.  *Waxhaw NC Home Sales and Best Buys—December 2010 Update*

Waxhaw NC Real Estate Market Report—July-September 2010

How did the Waxhaw NC real estate market fare in the third quarter of 2010 and how does 2010 market activity compare with 2009?

Average sales prices in the Waxhaw NC real estate market rebounded during the third quarter of 2010.  The single family home average sales price was up 6% over the second quarter and up 3% over the 2009 average sales price.  There were no townhome or condominium sales in Waxhaw during the second quarter but the third quarter average sales price was off just 3% from the 2009 average sales price.  The number of single family sales decreased about 30% from the second quarter.  The increased pricing and decreased number of sales most likely reflect the end of the federal tax credit for first time home buyers and a return to move-up buyers in the marketplace.

Waxhaw NC Average Real Estate Prices, Homes Sold, and Average Days on Market

The chart below shows average sales prices in Waxhaw NC for single family homes and townhomes in 2008 and 2009 plus the first three quarters of 2010. 

Single Family Homes in Waxhaw NC

2009 Average Sales Price:  $319,902   First Quarter 2010 Average Sales Price:  $300,199  Second Quarter 2010 Average Sales Price:  $311,741  Third Quarter 2010 Average Sales Price:  $330,339

2009 Number of Homes Sold:  205    First Quarter 2010 Number of Homes Sold:  29  Second Quarter 2010 Number of Homes Sold:  88   Third Quarter 2010 Number of Homes Sold:  61 

2009 Average Days on Market:  130   First Quarter 2010 Average Days on Market:  112   Second Quarter 2010 Average Days on Market:  117  Third Quarter Average Days on Market:  100

Townhomes and Condominiums in Waxhaw NC

2009 Average Sales Price:  $146,524    First Quarter 2010 Average Sales Price:  $102,000   Second Quarter 2010 Average Sales Price:  no sales  Third Quarter 2010 Average Sales Price:  $141,117  

2009 Number of Homes Sold:  19       First Quarter 2010 Number of Homes Sold:  1    Second Quarter 2010 Number of Homes Sold:  no sales     Third Quarter 2010 Number of Homes Sold:  5

2009 Average Days on Market:  112     First Quarter 2010 Average Days on Market:  50    Second Quarter 2010 Average Days on Market:  no sales  Third Quarter 2010 Average Days on Market:  168

Source:  Carolina Multiple Listing Service

Most Active Neighborhoods in Waxhaw NC 2009

The most active Waxhaw NC neighborhoods are listed below.  Click on each neighborhood to get a detailed description of the neighborhood, a summary of 2009 real estate activity and search for current homes for sale.

Cureton

Anklin Forrest

Lawson

Quellin

Millbridge

Copyright 2010.  Carol Fox.  Allen Tate Realtors.  *Waxhaw NC Real Estate Market Report—July-September 2010*