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Marvin Creek Market Report- Summer 2013

August 1st, 2013 Listed Under: Marvin Creek, Union County

Marvin Creek in Nearby Union County Marvin Creek Pool

Marvin Creek is a  popular Toll Brothers community in close in  Union County. It combines terrific houses, a great location and sought after Marvin Ridge Schools.

As of 8/1, there were 8 homes Active and on the market , from $529,000 to $1.1M. 8 homes closed in the Summer sales season from May through July, from $480,000 to 605,000,  or from 126 to $146/sf. 4 sold above tax value, 3 below, and one about dead on.  The average sold at $131/sf and 97% of List Price, and stayed on the market 54 days.

I looked back at the last 12 months and found there were 28 sales total. 16 sold for under $600,000, 4 in the 600’s , and 5 in the 700’s. Only 3 homes sold in the 800’s , the highest was $898,738 and nothing above that. The is serious custom home competition above $600,000 nearby from Providence Downs and  Kingsmead.

The homes in the middle the 500’s and 600’s seem to do best, 15 of the 28 sales fell in this range, with a median Days On Market of 67 Days

Our Listing at 5024 Groves Edge La (currently Pending) received over 50 showings in about 3 weeks, and we had multiple offers. So the market is quite hot  for that combination of perfect (5br + bonus) floorplan , lot and features- people still love Marvin Creek for its schools and amenities.

The 8 Closings:

2021 Groves Edge Lane LP $510,000 SP 480,000 DOM 43

3008 Groves Edge Lane LP 539,000  SP $520,000 DOM 8

5013 Groves Edge Lane LP$559,000 SP $540,000  DOM 136

5017 Groves Edge Lane LP $569,000 SP $563,000 DOM 32

344 Kindling Wood Ln LP 576,500  SP 577,000 DOM 119

600 White Tail Terrace LP 599,900 SP 580,000 DOM 304

5037 Groves Edge Lane  LP 589,000 SP 589,000 DOM 231

604 White Tail Terrace LP 599,900  SP 605,000  DOM 66

I’ll update this post when 5024 Groves Edge closes later in August.

Union County summer sales season have been hot- from May through July, sales are up  are up 23% over  Summer 2012.  Price have risen a modest 1.7% over a year ago, well behind the city of Charlotte average, but still rising as the leftovers of the recession are wrung out of our real estate market.

Price

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Terry McDonald
I'm the owner/team leader of The McDonald Group at Wilkinson and Associates ERA Powered real estate brokers here in Charlotte NC. A transplanted Washinghtonian, my family and I came from the NYC area in 1993.
Terry McDonald
Terry McDonald

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The McDonald Group
Wilkinson and Associates ERA Powered
8604 Cliff Cameron Dr ST 110
Charlotte NC 28269
704-390-6221 Cell
704-393-0048 Office
Licensed in NC & SC
USAA Certified
ERA Luxury Home Certified

Charlotte Communities Online

Terry McDonald [email protected]   704-351-1519

Bobby McDonald [email protected] 704-351-1519