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What Happened In Ballantyne's Housing Market In Charlotte, NC: Aug 2017?

By
Real Estate Agent with Coldwell Banker Realty 179530

Welcom to Ballantyne

 

August 2017 home sales in the Ballantyne area of Charlotte, North Carolina (28277 zip code) continued the trends we saw in the first half of the year with home prices up, inventory down, pending and closed sales up.

 

The average sale price of Ballantyne area homes increased by 4.0% to just under $358,000 as compared with the same period one year ago. (Median sale price in August 2017 was also up 6.0% versus one year ago.)

 

Average days on market for property listings dropped to 31 days from 34 days one year ago--an 8.8% improvement over the same period last year. Median days on market also dropped by 30.8% to 9 days in August 2017. 

 

Average price per square foot increased by 6.2% to $138/square foot in August 2017 versus the same period in 2016. Pending sales were up 3.2% in August versus the same month last year, August 2017 closed sales  were up 1.8%. It's not unreasonable to assume that both pending and closed sales would have been higher if there had been more inventory in August.

 

The number of showings per listing and the number of showings until pending contract per listing also dropped. During August 2017, listed homes averaged 10.2 showings (down 1.9% versus August 2016) and 23 showings until pending contract (down 4.2% versus the same time period one year ago). Given the tight inventory of available homes for sale, it's not surprising that listed homes get considerable "foot traffic" prior to going under contract, while showings until pending contracts decrease as homes sell more quickly.

 

The median percent of original list price that sellers received for their homes was up 0.6% compared with last year at 98.3%, showing how little negotiating room there is in the 28277 zip code for Ballantyne area homes.

 

New listings increased an anemic 2.2% versus August 2016, barely relieving the strain to a high demand market starved of available inventory. The Ballantyne area's months supply of homes remains at below two months at 1.8 months (down 10.0% versus August 2016). 

 

Without doubt, it continues to be a seller's market in the 28277 zip code and very competitive, with many homes selling within days of being listed for sale, and with little indication that this will change any time soon in 2017.

 

The strong housing market we saw in Ballantyne area throughout 2016 continued through the first eight months of 2017, as Ballantyne area homes continue to sell, sell faster, and sell for more money. 

 

 

Ballantyne Area Local Market Update - August 2017

 

 

 

 

 

 

 

 

 

 SEARCH ALL BALLANTYNE AREA HOMES 

 

WONDERING WHAT YOUR BALLANTYNE AREA HOME IS WORTH?

 

 

Previous Ballantyne Area Housing Market Updates:

 

Ballantyne Housting Market Update: July 2017

Ballantyne Housing Market Update: June 2017

Ballantyne Housing Market Update: May 2017 

Ballantyne Housing Market Update: April 2017 

Ballantyne Housing Market Update: March 2017 

Ballantyne Housing Market Update: February 2017 

Ballantyne Housing Market Update: January 2017

Ballantyne Housing Market Update: December 2016

Ballantyne Housing Market Update: November 2016

Ballantyne Housing Market Update: October 2016

Ballantyne Housing Market Update: September 2016

Ballantyne Housing Market Update: August 2016

 

  

This Charlotte, North Carolina real estate monthly update for Ballantyne is brought to you courtesy of Nina Hollander and Carolinas Realty Partners, RE/MAX Executive,  your Ballantyne area neighbors and Charlotte metro area real estate consultants. 

 

If you are considering selling or purchasing a home in the Charlotte metro area, I would love an opportunity to earn your business, exceed your expectations, and to prove to you that:

 "The Right Broker Makes All The Difference."

 

   

Posted by

 

 Nina Hollander, RE/MAX Broker, Realtor

 

 

 

Broker, Realtor, MBA, GRI, ABR, SRES, CDPE, SFR, SPS, CMRS
Carolinas Realty Partners with Coldwell Banker Realty
Direct: 704-779-0813
Website: www.GreatHomesInCharlotte.com
Blog: News You Can Use From The Greater Charlotte Area
Search For All Charlotte Area Homes: www.GreatHomesInCharlotte.com 

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Disclaimer:  Nothing in this blog article is to be construed as legal advice, tax advice, or financial advice.  For legal advice see an attorney.   For tax advice or financial advice see a tax attorney, certified public accountant, or other qualified professional.

 

Comments (14)

Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Nina. Skip the statistics and call Nina. Problem solved! Enjoy your day!

Sep 05, 2017 05:59 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Wayne Martin ~ hi Wayne... I like that solution! A lot! And I'm sure better with the numbers than I am with your trivia questions!

Sep 05, 2017 06:01 AM
Roy Kelley
Retired - Gaithersburg, MD

Families moving to the area will appreciate your local real estate market reports.

Sep 05, 2017 06:22 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Roy Kelley ~ thanks, Roy. Hope your day has gotten off to a good start and that you're back in the pink healthwise.

Sep 05, 2017 07:08 AM
Roy Kelley
Retired - Gaithersburg, MD

We have a beautiful morning in Maryland. I am feeling better and Dolores is on the golf course at Montgomery Country Club.

Sep 05, 2017 07:11 AM
Nick Vandekar, 610-203-4543
Realty ONE Group Advocates 484-237-2055 - Downingtown, PA
Selling the Main Line & Chester County

Ballantyne a popular destination for buyers in Charlotte and a trend seen around the country of low inventory pushing upprices in markets lacking inventory.

Sep 05, 2017 07:31 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Nick & Trudy Vandekar, 610-203-4543 ~ hi NIck... we are seeing our prices pushed all over the Charlotte metro area.... and some of the biggest increases are in neighborhoods where homes are more affordable and which many buyers would not have considered a few years ago.

Sep 05, 2017 07:40 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Roy Kelley ~ happy to hear you are doing better... nothing worse than a summer cold. It's beautiful here in Charlotte, as well. Sunny, no humidity to speak of and not too hot. We are expecting temps in the 70's this coming week... really nice.

Sep 05, 2017 07:41 AM
Sheri Sperry - MCNE®
Coldwell Banker Realty - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

Hi Nina, 

The lack of inventory in Ballantyne is certainly putting an upward pressure and affecting the average price of homes. Buyers and sellers need your expertise to navigate this sellers' market.

Sep 06, 2017 04:47 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Nina, great information on the real estate in Ballantyne, and nice to see it is going strong!  

Sep 06, 2017 04:47 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Joan Cox ~ thanks, Joan... Ballantyne market doing well, but we do need more affordable inventory!

Sep 06, 2017 05:04 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Sheri Sperry - MCNE® ~ hi Sheri... lack of inventory is putting pressure on prices all over Charlotte, including areas that people would never have considered buying in a few years ago.

Sep 06, 2017 05:05 AM
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

You always provide good information about your housing market. Thank you for sharing.

Sep 06, 2017 05:11 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Gita Bantwal ~ good morning, Gita. Thanks for the pop-by and nice comment. Wishing you a wonderful day!

Sep 06, 2017 05:28 AM