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Home Cureton in Waxhaw NC Real Estate Market Re...

Cureton in Waxhaw NC Real Estate Market Report--2011 Mid-Year Review

Cureton in Waxhaw NC Real Estate Market Report—2011 Mid-Year Review

Located in historic Waxhaw NC, Cureton is a 380-acre mixed use development where you can find a single family home or a townhome. Cureton residents can use the 4000 square foot amenity center with water park and community lake or walk to the nearby community shopping center with grocery store, restaurants and banks.Waxhaw NC Real Estate Market

Cureton Real Estate Market Comparison

A detailed comparison of the 2011 year-to-date real estate market in Cureton can be found in the tables below. What can Cureton buyers and sellers learn from these statistics?

  1. Both single family and townhome prices have continued to drop in 2011. Single family median prices are down 3.8% from 2010 while townhome prices are down 16.8%. I believe that single family prices are down this year because of the significant number of foreclosures and short sales. Most townhome sales have been new construction indicating that builders have lowered their prices.
  2. Single family homes have the roughly the same median days on market and median list to sale ratio as 2010. Townhomes, however, are taking longer to sell in 2011 and the median list to sale ratio has dropped to 91%.
  3. New construction makes up over 70% of the townhome market in 2011 and a third of the single family market.
  4. Foreclosures and short sales are 50% of the single family market, probably reflecting the fact that Cureton construction began at the height of the housing boom.

Single Family Homes

Cureton
Market Update		 Median Closed Price Median Home Square Footage Median Days on Market Median List to Sale Ratio
Year 2009 $253,821 2909 20 97%
Year 2010 $246,835 2826 109 96%
YTD 2011 $237,362 2995 110 96%

Source: Carolina Multiple Listing Service

Townhomes

Cureton Market Update Median Closed Price Median Home Square Footage Median Days on Market Median List to Sale Ratio
Year 2009 $154,675 1295 3 94%
Year 2010 $147,835 1388 110 93%
YTD 2011 $122,900 1280 294 91%

Source: Carolina Multiple Listing Service

Cureton Sales Types

Cureton Sales Types Single Family Number of Closed Sales Percentage of Closed Sales
Resale 2 16.7%
New Construction 4 33.3%
Foreclosure 4 33.3%
Short Sale 2 16.7%

Source: Carolina Multiple Listing Service

Cureton Sales Types Townhomes Number of Closed Sales Percentage of Closed Sales
Resale 1 14.3%
New construction 5 71.4%
Foreclosure 1 14.3%
Short Sale n/a n/a

Source: Carolina Multiple Listing Service

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

Cureton Homes for Sale

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Copyright 2011. Carol Fox. Allen Tate Realtors. *Cureton in Waxhaw NC Real Estate Market Report—2011 Mid-Year Review*

Posted Thursday Sep 01