Is Waxhaw, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Waxhaw has remained a Seller's Market.
Key Takeaway
Waxhaw is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Waxhaw, NC
How much do homes in Waxhaw, NC cost?
Median Sold Price
$730,840
$224/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Waxhaw have sold for 21.9% more than they did a year ago.
Summary: The median home sold price in Waxhaw was $730,840 in May 2024, up 21.9% from last year, and the median price per square foot was $224.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $305K | $342.5K | +12.3% |
| 3 Bedrooms | $425.4K | $442.5K | +4.0% |
| 4 Bedrooms | $589K | $687K | +16.6% |
| 5+ Bedrooms | $762K | $850K | +11.5% |
Summary: Waxhaw housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 12.3%, 3 bedroom homes increased by 4%, 4 bedroom homes increased by 16.6%, and 5+ bedroom homes increased by 11.5%.
Median Sold Price Compared To Nearby Cities
| Waxhaw | $599.4K | $730.8K | +21.9% |
| Jackson Township | $474.9K | $535K | +12.6% |
| Marvin | $1.0M | $1.1M | +10.6% |
| Wesley Chapel | $600K | $649.5K | +8.3% |
| Mineral Springs | $445K | $423.5K | -4.8% |
Housing Supply in Waxhaw, NC
How many homes are available in Waxhaw, NC?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 250 | 290 | +16.0% |
Summary: The Waxhaw real estate market had 290 homes for sale in May 2024, a 16.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 9 | 8 | -11.1% |
| 3 Bedrooms | 50 | 54 | +8.0% |
| 4 Bedrooms | 90 | 104 | +15.6% |
| 5+ Bedrooms | 101 | 124 | +22.8% |
Summary: The Waxhaw housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 11.1%, 3 bedroom homes increased by 8%, 4 bedroom homes increased by 15.6%, and 5+ bedroom homes increased by 22.8%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 67 | 77 | +14.9% |
Asking Price vs. Sold Price
25 Homes Were Sold
Under Asking
18 Homes Were Sold
At Asking
34 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Waxhaw, you could pay more than the asking price. 44.2% of homes here sold above asking price last month.
Summary: A total of 77 homes were sold or pending in Waxhaw in May 2024, up by 14.9% month-over-month. Of the 77 sold homes, 32% were sold under asking, 23% were sold at asking, and 44% were sold over asking.
Days on Market for Waxhaw, NC
How long does it take to sell a home in Waxhaw, NC?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 12 Days | 21 Days | +71.8% |
Summary: Homes in Waxhaw had an average of 21 days on market in May 2024, up by 71.8% compared to last year.
Breakdown of Home Sale Times
60 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Waxhaw are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 77 homes were sold in Waxhaw; 78% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
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