Over the last few years, the number of active homes for sale in Waxhaw has changed dramatically compared to years prior. A few months back I wrote an article discussing the historical changes in listing counts and have continued to monitor this number month after month.
So far, in the last three years Waxhaw has witnessed a constant decline in listings month after month when compared to previous years. For example, in July of 2020 Waxhaw had 511 single family home listings, in July of 2021 that number was only 320 and in July of this year we dropped slightly to 317. This is extremely important as the number of available listings coming to market is a clear indicator in the health and strength of our local real estate market.
What is most interesting is that over the last few years we’ve seen dramatic decreases in listing counts, but in July we nearly saw the listing number exceed years prior for the first time in over 4 years. The graph below helps to better represent just what has happened with our listing count over the last few years.
This information is key to understanding whether we are in a sellers’ market or a buyers’ market and just how strong the market is compared to previous years. Anyone who tried buying a house in the last 3 years knows it was extremely challenging thanks to the limited number of options available. We’re starting to finally see some changes to the market, but we’re still far behind.
Many fear of a pending recession due to rising inflation, interest rates, and the cost of consumer goods and housing skyrocketing. The real estate market however can take a long time to “catch up” as listings don’t double or triple overnight. We must monitor and watch the number of listings closely to know what to expect and what to predict.
Although we don’t have a crystal ball, the next few months are going to be very telling for our local market. Keep in mind we’re not at a level market, we’re not even close. But, if consumer interest and confidence decline these listing counts can climb quickly, and that’s when things can truly begin to shift. I personally don’t predict a recession and I believe our market is going to remain strong for both buyers and sellers, but I do think we’re going to begin leveling out to a true equilibrium. If you have any questions or want to discuss the market and buying or selling in Waxhaw or Charlotte feel free to call me directly at 980-250-2795.
If you’re considering buying or a selling a home in the Waxhaw area and would like to learn more about the process, please don’t hesitate to call me at Briggs American Homes at (980) 250-2795. I would love to help you and your family with all of your real estate needs!
Check out my latest client testimonial! “We are so fortunate to have worked with Matt Lawson! He has been an invaluable resource throughout the entire process of buying our home. Right from the start, we got a good feeling about him. He could relate to our needs and really helped us bring our options into focus, saving us valuable time and energy. He not only has years of experience as a realtor. He has worked as a home inspector, published numerous articles to help inform prospective buyers… I can’t say enough. We found the right realtor. And the right house!” L. Berger
Matt Lawson, MBA is the Owner and Broker in Charge of Briggs American Homes, a real estate team at REAL Broker, LLC.. Matt lives and operates his business right here in Waxhaw, NC and is passionate about all things Real Estate.