Union County Real Estate Talk

The 2011 Weddington NC Real Estate Market—Four Facts

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

Here are four facts about the Weddington marketplace in 2011.

• The number of homes sold was the same as the number sold in 2010 and more than units sold in 2008 or 2009.
• The median sales price of $412,500 continued declining in 2011, down 13.1% from 2010 and off 27.3% since 2008.
• New construction accounted for only 11% of all sales in 2011.
• Distressed sales made up a quarter of the 2011 market.

What do these four facts mean for Weddington buyers and sellers?

1. The luxury home market continues to suffer from the lack of new homes being built and the impact of distressed sales on pricing.
2. Home buyers in Weddington can find some of the best values ever in this small town.

Want to learn more about the real estate market in Weddington and see all the numbers for each of the past four years?  Click on the link below.

Weddington NC Real Estate Market Report—Year 2011

Copyright 2012. Carol Fox. Allen Tate Realtors. *The 2011 Weddington NC Real Estate Market—Four Facts*

Highgate in Weddington NC Real Estate Market Report—2011 Year-to-Date Review

Beautiful stone gates announce your arrival in Highgate, a WeddingtonNC neighborhood just minutes from the interchange of I-485 and Providence Road.  A wooded and landscaped entry road winds through this luxury neighborhood of upscale homes of stone and brick.  Large heavily wooded lots ensure privacy for Highgate homeowners.

Highgate Real Estate Market Comparison

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

1. Thirty percent of the sales year-to-date in Highgate have been foreclosures.  The foreclosures plus the fact that smaller homes have sold in 2011 most likely account for the downward trend of the median closed price in the neighborhood.  The 2011 median price is off nearly 30% from 2010 while the median square footage is only off 17.4%.
2. With prices trending downward, now is a great time for buyers to consider a purchase in this luxury neighborhood.

Single Family Homes

Source: Carolina Multiple Listing Service

Highgate Types of Closed Sales

Source: Carolina Multiple Listing Service

Read more about Highgate, its community amenities, builders and public schools: Highgate in Weddington NC—Homes for Sale and Neighborhood Profile

Highgate Homes for Sale

Click here to see Highgate homes for sale.

Ever wonder what your Highgate home is worth?

Click here to receive a free market evaluation.

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

Weddington NC Real Estate Market Report—July-September 2011

The number of homes sold in Weddington NC during the third quarter of 2011 increased by 47.8% but the median sales price dropped 10.5% to $369,000.  Days on market improved to three months.

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

• Sellers in Weddington are seeing a downward pressure on pricing in 2011.
• Housing remains more affordable for buyers in Weddington than recent years. 

Single Family Homes

Source: Carolina Multiple Listing Service

Most Active Neighborhoods in Weddington 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.

Highgate

Hadley Park

Providence Woods

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

Weddington NC Real Estate Market Report—April-June 2011

Weddington NC is home to large lots and luxury neighborhoods.  The real estate market in Weddington during the second quarter of 2011 improved over the first quarter.  Twenty three homes sold during this time period compared with only 13 during the first quarter.  The median sales price improved slightly over the first quarter.  Median days on market declined 17.3% in the second quarter.

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

• Sellers in Weddington may find the market improving as more buyers mean stabilizing prices and fewer days on market.
• Buyers for properties in Weddington can still find bargains as median prices during the first half of 2011 have declined substantially from 2010 prices.

Single Family Homes

Source: Carolina Multiple Listing Service

 Most Active Neighborhoods in Weddington  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.

Highgate

Hadley Park

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

Weddington NC Real Estate Market Report—January-March 2011

Thirteen homes sold in Weddington NC during the first quarter of 2011.  The median price of $410,000 represented a 15.7% drop from the median price in 2010.  The highest priced Weddington home in the first quarter sold for $975,000.  Median days on market increased almost 40% from 2010.

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

• Pricing for Weddington NC sellers continues to decline and days on market continues to increase.   
• Buyers for properties in Weddington can find the best values in years.

Single Family Homes

Source: Carolina Multiple Listing Service

Most Active Neighborhoods in Weddington 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.

Highgate

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

Weddington NC Real Estate Market Report—Year 2010

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

The tables below compare the Weddington NC real estate market for years 2008 through 2010.  90 single family homes closed in Weddington in 2010.  The highest priced single family home sale was $2,275,000.   The median list to sale ratio in 2010 was 94%.

Single Family Homes in Weddington NC

The median sales price in Weddington declined each year from 2008.  This decline most likely reflects the large number of luxury homes in the Weddington marketplace.  Pricing for these homes reset during this time because of the recession.  The median price in 2010 was off 16.3% from 2008.  The number of homes sold decreased from 2008 to 2009 but shot up 55% from 2009 to 2010.  More buyers found more bargains in Weddington in 2010.  Median days on the market were up 51% from 2009.

Source:  Carolina Multiple Listing Service

Most Active Neighborhoods in Weddington NC

The most active Weddington 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.  *Weddington NC Real Estate Market Report—Year 2010*

Weddington NC Real Estate Market Report—July-September 2010

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

The average sales price in Weddington NC rose in the third quarter of 2010 compared with the second quarter 2010 but dropped off from the average sales price in 2009.  The price changes were slight as prices rose 1% over the second quarter and fell 2% from 2009 prices.  The number of homes sold in the third quarter was off 13% from the second quarter of 2010.

Single Family Homes in Weddington NC

2009 Average Sales Price:  $599,265   First Quarter 2010 Average Sales Price:  $602,450  Second Quarter 2010 Average Sales Price:  $577,382  Third Quarter 2010 Average Sales Price:  $584,821

2009 Number of Homes Sold:  61    First Quarter 2010 Number of Homes Sold:  14  Second Quarter 2010 Number of Homes Sold:  29   Third Quarter 2010 Number of Homes Sold:  25 

2009 Average Days on Market:  173   First Quarter 2010 Average Days on Market:  196   Second Quarter 2010 Average Days on Market:  110  Third Quarter Average Days on Market:  225

Source:  Carolina Multiple Listing Service

Most Active Neighborhoods in Weddington NC

The most active Weddington 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.

Highgate

Providence Woods

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

Weddington NC Real Estate Market Report—April-June 2010

How did the Weddington NC real estate market fare during the second quarter of 2010 and how did it compare with 2009? 

The average sales price in Weddington NC during the second quarter 2010 dropped 4% from the average sales price in the first quarter 2010 and 3% from 2009 average prices.  The number of homes sold doubled in the second quarter over the first quarter and average days on market dropped 43%.

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

The chart below shows average sales prices in Weddington NC for single family homes in 2008 and 2009 plus the first and second quarter of 2010.

Single Family Homes in Weddington NC

2009 Average Sales Price:  $599,265   January-March 2010 Average Sales Price:  $602,450    June-April 2010 Average Sales Price:  $577,382  

2009 Number of Homes Sold:  61       January-March 2010 Number of Homes Sold:  14    June-April 2010 Number of Homes Sold:  29

2009 Average Days on Market:  173    January-March 2010 Days on Market:  196   June-April 2010 Days on Market:  110  

Most Active Neighborhoods in Weddington NC

The most active Weddington 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.

Highgate

Providence Woods

Copyright 2010.  Carol Fox.  Allen Tate Realtors.  *Weddington NC Real Estate Market Report—April-June 2010*

Weddington NC Real Estate Market Report—January-March 2010

How did the Weddington NC real estate market fare during the first quarter of 2010 and how did it compare with 2009? 

The average sales price in Weddington NC increased during the first quarter of 2010 over the 2009 average sales price.  The number of homes sold in the first quarter were up relative to 2009.  Days on market increased somewhat during the first quarter 2010.

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

The chart below shows average sales prices in Weddington NC for single family homes in 2008 and 2009 plus the first quarter of 2010.

Single Family Homes in Weddington NC

2009 Average Sales Price:  $599,265   January-March 2010 Average Sales Price:  $602,450   

2009 Number of Homes Sold:  61       January-March 2010 Number of Homes Sold:  14  

2009 Average Days on Market:  173    January-March 2010 Days on Market:  196   

Most Active Neighborhoods in Weddington NC 2009

The most active Weddington 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.

Highgate

Providence Woods

Copyright 2010.  Carol Fox.  Allen Tate Realtors.  *Weddington NC Real Estate Market Report—January-March 2010*

Weddington NC Real Estate Market Report—2009

How did the Weddington NC real estate market fare in 2009 and how did it compare with 2008? 

Weddington NC average real estate prices held up better in 2009 than most areas in Union County NC.  Average prices were down only 4% year-over-year.  Weddington saw 16% fewer sales in 2009 and sellers waited longer to sell their homes with average days on market up 35%.

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

The chart below shows average sales prices in Weddington NC for single family homes in 2008 and 2009 plus each 2009 quarter.

Single Family Homes in Weddington NC

2008 Average Sales Price:  $628,610      2009 Average Sales Price:  $599,265    Year-to-Year Change:  -4%

2008 Number of Homes Sold:  73        2009 Number of Homes Sold:  61      Year-to-Year Change:  -16%

2008 Average Days on Market:  128        2009 Average Days on Market:  173      Year-to-Year Change:  +35%

Most Active Neighborhoods in Weddington NC 2009

The most active Weddington 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.

Highgate

Providence Woods

Copyright 2010.  Carol Fox.  Allen Tate Realtors.  *Weddington NC Real Estate Market Report—2009*