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Marvin Creek in Marvin NC--2010 Real Estate Market Update

Marvin Creek in Marvin NC—2010 Real Estate Market Update

Click here for an update to the 2011 real estate market in Marvin Creek.

A luxury lifestyle with outstanding amenities. Large lots nearing an acre in size. A convenient location just minutes from I-485 and abundant shopping at Blakeney. Low Union County taxes and great Union County schools.

Marvin Creek in Marvin NC

Marvin Creek in Marvin NC offers all these benefits plus beautiful brick homes built by Toll Brothers. Both new and resale homes are available in Marvin Creek.

How did the 2010 real estate market in Marvin Creek compare with the 2009 market in the neighborhood? The table below shows median values for several characteristics of the marketplace. Fifteen single family homes sold in the neighborhood compared with 16 in 2009. Median prices dropped nearly 9% in 2010 while the median size of homes increased 8.5%. This indicates a substantial drop in price per square foot in the neighborhood. This drop may have been a result of the dominance of resales last year rather than new construction. Median days on market increased nearly five-fold while the median list-to-sale ratio declined to 93%.

Marvin Creek Real Estate Market Comparison

Single Family Homes

Marvin Creek
Market Update		 Median Closed Price Median Home Square Footage Median Days on Market Median List to Sale Ratio
Year 2009 $614,318 4499 19 96%
Year 2010 $560,000 4883 118 93%

Source: Carolina Multiple Listing Service

Marvin Creek Types of Closed Sales

Resales dominated the Marvin Creek real estate market in 2010 with over half the sales. New construction sales accounted for another 20% of activity. Foreclosures and short sales represented over a quarter of the market.

Marvin Creek Sales Types Number of Closed Sales Percentage of Closed Sales
Resale 8 53.3%
New Construction 3 20%
Foreclosure 3 20%
Short Sale 1 6.7%

Source: Carolina Multiple Listing Service

Read more about Marvin Creek, its community amenities, builders and public schools: Marvin Creek in Marvin NC: Homes for Sale and Neighborhood Profile.

Marvin Creek Homes for Sale

Click here to see Marvin Creek homes for sale.

Ever wonder what your Marvin Creek home is worth?

Click here to receive a free market evaluation.

Copyright 2011. Carol Fox. Allen Tate Realtors. *Marvin Creek in Marvin NC—2010 Real Estate Market Update*

Posted Tuesday Feb 22