Waxhaw Weddington and Marvin Real Estate Market Report

Homes for Sale in Union County NC: Weddington, Waxhaw and Marvin, 4th Quarter 2009

Relax in Waxhaw NC

The most popular “move to” county in nearby Charlotte NC is Union county, and these close-in suburbs  Weddington, Waxhaw and Marvin- also Matthews in Union county,  are communities of special interest to folks relocating to the greater Charlotte area. Union County is known for its bucolic setting and comfortable lifestyle, the area is served by qualioty Union County schools and the well regarded schools at Weddington (Weddington Elementary, Weddington Middle, and Weddington High School) and the campus at Marvin Ridge, with Marvin Ridge Middle School and Marvin Ridge High School, and is a comfortable commute to south Charlotte, the airport, and Uptown Charlotte.

Waxhaw and Marvin families love the new stores at Blakeney (Super Target, Best Buy, Pet Smart to name just a few, complete list) , Weddington families love the new Target and shops at Weddington and Waxhaw-Indian Trail Road.  If you want more pictures and community information follow these links, Waxhaw Homes and Communities or Weddington Homes and Communities

Homes Sold- 10/1/2009  to 12/31/2009- Zip Codes 28173, 28104

233 Homes Sold in these  Union County suburbs in the 4th quarter, 2009, ranging from just under $100,ooo to 2.5M. The median home price was $336,555 and the median net cost per square foot was $104.

Homes for Sale Under 350,000 accounted for 58% of the market in 2009, and they had an average cost per square foot of $90.

Homes For Sale under $500,000 accounted for 79% of the market, with an average cost per square foot of $96.

Compared to 2008, There was an  7.9% uptick in homes sales over a slow 2008, and a 11% drop in prices compared  to 4th quarter 2009- just a bit higher than the area average.

Popular Communities in Matthews, Marvin,  Waxhaw and Weddington- Median Cost Per Square Foot (average home, average condition)

Weddington- Waxhaw -Matthews Home Search

Like to know more numbers on your community? Just let us know- we prepare custom research for clients routinely. And if you like these charts, just sign up on right and get new charts weekly!

Prices reflect the seasonal low point for the year, see below

These 4th quarter price decrease is well within the seasonal margins- demand slows to a crawl from just before Thanksgiving to about now.

Lets look at Median Prices (falling through the quarter) and the Market Action Index- (current sales versus current listings, 30 is neutral, below 30 is a  Buyers Market*)

Very cool , isn’t it? So, where would you go, where would you send a friend, For the Best Charlotte Home Stats on Web … if you guessed right here, you are the winner!

Thinking of Buying or Selling a home in Waxhaw, Weddington, Marvin or Matthews?

Contact Terry McDonald, now part of the Carolina Dream Living Team (shhhh haven’t issued Press Release yet!) terry at terrymcdonaldre dot com, or just call, 704-351-1519

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*From Altos Research About the MAI- or Market Action Index:

One of the unique market statistics provided in the Altos Market Reports our proprietary “Market Action Index” (MAI). Some of our subscribers ask about this stat and why we created it. In short, there are times in a market (both city and zip code level) that some of the key market stats that we use to analyze a market run counter to each other.

Maybe median price is increasing at the same time that inventory levels are increasing while days-on-market is relatively flat. Using these three market stats individually makes it difficult to determine what is exactly is going on. We developed the MAI to roll together some of these key stats (and a few others) to generate a number, indexed to “30″, to determine if the local market is trending towards a “buyer’s market” or “seller’s market.”

From our reports: “Residential house prices are a function of supply and demand, and market conditions can be characterized by analyzing those factors.

“The Market Action Index (MAI) illustrates the balance between supply and demand using a statistical function of the current rate of sale versus current inventory. An MAI value greater than 30 typically indicates a “Seller’s Market” (a.k.a. “Hot Market”) because demand is high enough to quickly absorb available supply. A hot market will typically cause prices to rise. MAI values below 30 indicate a “Buyer’s Market” (a.k.a. “Cold Market”) where the inventory of already-listed homes is sufficient to last several months at the current rate of sales. A cold market will typically cause prices to fall.”

Keep in mind that an MAI value close to “30″ probably means that the local market is balanced or neutral.