Waxhaw has easily become one of the most sought-after small towns in the Charlotte Region, dare I say even in the entire State of NC. We have some of the best communities, schools, amenities, downtown shops and restaurants, and we’re only a short drive to the center of Downtown Charlotte. Waxhaw offers a tremendous amount for families of all sizes and ages, and it’s only getting bigger and better.
Growth is something we’ve become to know very well here in Waxhaw. We’ve watched our town and communities grow and evolve to meet the ever-growing population. Whether or not you agree with the growth and the evolution, it’s undeniable and not going anywhere. The housing market specifically has seen massive growth in the last few years and that growth has presented many with new opportunities, and even more challenges.
As the housing market booms in our area home prices have skyrocketed with some homes doubling in value in just 4 years. Many have screamed that this is a housing bubble and it’s all about to crash and to prepare for the nearing recession. Interest rates are skyrocketing, gas is more expensive than it’s even been, and the end of record inflation is nowhere in sight. So, should we prepare for the recession? Will sellers have to beg to sell their homes? Will values drop 40%? 50% Will interest rates reach 8 or 9%?
The reality? Bad news sells and scary headlines attract readers like moths to a flame. There is no doubt that the markets and the economy are in rough shape right now. But, we have to press on and understand that our little town is a diamond in the rough and regardless of the economic conditions, people still want to live in Waxhaw. Here’s the facts:
The graph above shows us the historical listing count in Waxhaw over the last 4 years from 2019 to today. The patterns are relatively parallel and the listing count in Waxhaw has been at a constant decline since May of 2019. In fact, at no point have any of these lines intersected and year after year our listing count continues to fall despite construction and growth. In fact, the listing count in May of 2022 was down 30% compared to the number of listings in May of 2021. May historically is our heaviest listing month and trends indicate we should see a continued decline for the rest of the year.
You must be careful where you get your “news” and your advice when it comes to housing and the market. There are countless articles and so called “professional experts” telling the public we’re in a housing bubble and to prepare for the worst. I know the market here in Waxhaw isn’t indicative of the rest of the country, but we’re simply not seeing the same problems. You have to look at the data and understand what our market is doing to make sound decisions when it comes to real estate purchases and sales.
As the market continues to change, we’ll undoubtedly see a shift in the real estate market and eventually it is likely we’ll see inventory rise. But, for the time being the market is telling us that it’s going to be even tighter in 2022 now that prices and interest rates are now at all time highs. If you’re considering buying a home, don’t sit back and wait for the market to crash. Understand the numbers and know that if you continue to wait, purchasing a home may become unattainable if prices and interest rates continue to rise. If you’re thinking about selling your home, consider all of your options and make sure to speak to a licensed Realtor first to help guide through the process step by step.
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 Keller Williams Ballantyne area. Matt lives and operates his business right here in Waxhaw, NC and is passionate about all things Real Estate.