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