Time for another Market Update for one of my favorite subdivisions: Weddington Ridge!
Previously I’d put up a Weddington Ridge Market Report, looking back over the past year at the sales activity in the neighborhood. What I want to do, based on positive feedback for that, is continue to provide updates on this great community. This time, it’s a look back at the 2nd Quarter of 2017 – April through June.
If you’re a Do It Yourselfer, there are a couple of options for you.
First, just click here to see the Weddington Ridge Homes for Sale. That list is updated constantly directly from the MLS.
Second, sign up for the Neighborhood Market Report and see what’s for sale, sold, under contract, and data on Weddington Ridge – conveniently emailed to you monthly!
But now, let’s take a look at the activity in March!
Weddington Ridge Sales Activity for 2Q 2017
Looking at the Previous 3 months, here’s the sales activity in the neighborhood:
- 3 For Sale
- 4 Under Contract
- 2 Sold!
- 1 Withdrawn (and put back on the market)
The median Days on Market for all properties was about 20 days, with the 2 Sold properties being on the market for 5 and 132 days. The 3 currently For Sale range from 3 to 116 days, while the 4 currently Under Contract range from 4 to 111 days on market.
While we can’t find out what agreed-to price is for the under contract properties, we can look at the recent sales.
The first sold for $335,000 which was higher than it’s list price of $325,000! It was on the market for 5 days at $94.23 per square foot, with 3,555 sq. ft!
The second was sold for $268,500 off a listing price of $277,500, was on the market for 132 days at $106.84 per square foot for it’s 2,513 sq. ft!
If you’re doing the math in your head, remember all other factors being equal, the price per square foot goes down as square footage goes up. The median price per square foot is about $94.00.
The Weddington Ridge housing market is strong after a slow start to the year. Considering just the days on market and an average of about 20+/-in the community, compare that with the average around the entire Charlotte market of 48days!
Looking at the data above and the wide range of days on market, it shows what I’ve seen in the community – Weddington Ridge is extremely price sensitive. Missing the market by even $5,000 in your asking price can cause your property to sit for a long time. Of course, that’s assuming other factors being equal such as condition and staging to make it as attractive in the marketplace as possible!
In closing, anyone can sell a house, but not everyone can be a passionate advocate for it like I can! If you’ve been considering a move, I encourage you to reach out to me and let’s have a conversation about the market, your home, how to navigate the complex and confusing process, and how our Executive-Level marketing gets houses better positioned, better marketing, more views, and gets your house SOLD!
Have a great day!
Mahool Nance Team