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

By
Real Estate Agent with Coldwell Banker Realty 179530

Welcom to Ballantyne

September 2017 home sales in the Ballantyne area of Charlotte, North Carolina (28277 zip code) continued the trends we've seen all year as we close out the third quarter with home prices up, inventory tight, pending and closed sales up.

 

The average sale price of Ballantyne area homes increased by 4.1% to just under $360,000 as compared with the same period one year ago. (Median sale price in September 2017 was also up 8.0% versus one year ago.)

 

Average days on market for property listings dropped to 31 days from 33 days one year ago--a 6.1% improvement over the same period last year. Median days on market also dropped by 30.8% to 9 days in September 2017. 

 

Average price per square foot increased by 5.3% to $139/square foot in September 2017 versus the same period in 2016. Pending sales were up 1.7% in September versus the same month last year, September 2017 closed sales  were up 2.5%. It's not unreasonable to assume that both pending and closed sales would have been higher if there had been more inventory in September.

 

The number of showings per listing and the number of showings until pending contract per listing also dropped. During September 2017, listed homes averaged 9.9 showings (down 4.8% versus September 2016) and 22 showings until pending contract (down 8.3% 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 0.7% compared with last year at 98.4%, showing how little negotiating room there is in the 28277 zip code for Ballantyne area homes.

 

New listings increased an anemic 2.1% versus September 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 September 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 nine months to-date of 2017, as Ballantyne area homes continue to sell, sell faster, and sell for more money. 

 

 

Ballantyne Area Local Market Update - September 2017

 

 

 

 

 

 

 

 

 

 SEARCH ALL BALLANTYNE AREA HOMES 

 

WONDERING WHAT YOUR BALLANTYNE AREA HOME IS WORTH?

 

 

Previous Ballantyne Area Housing Market Updates:

 

Ballantyne Housing Market Update: August 2017

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

 

 

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 (24)

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

Good morning Nina. Everything looks good except for the thinventory. May inventory increase. Enjoy your day!

Oct 03, 2017 05:29 AM
Richard Bazinet /MBA, CRS, ABR
West USA Realty - Scottsdale, AZ
Phoenix Scottsdale. Sellers, Buyers & Relocations

Love this great update and its presentation. Thank you for Nina for being on top of it, as always,

Oct 03, 2017 07:07 AM
Elizabeth Weintraub Sacramento Broker
Elizabeth Anne Weintraub, Broker - Sacramento, CA
Put 40 years of experience to work for you

Good morning, Nina. It seems the Ballantyne market is still going strong, with price increases and short days on market, which is good news for your fall real estate market in Charlotte!

Oct 03, 2017 08:13 AM
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Nina Hollander, Nina, another great report for people in your area.  Hey you are really getting lots of points.

 

Oct 03, 2017 11:37 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Sally K. & David L. Hanson ~ you said a mouthful, Sally! And I couldn't have said it better myself!

Oct 03, 2017 11:49 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Will Hamm ~ hi Will... thanks. Don't worry about points very much... not like I can spend time!

Oct 03, 2017 11:50 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Elizabeth Weintraub Sacramento Real Estate Agent, Top 1% of Lyon Agents ~ hi Elizabeth... I watch my markets carefully... I'm not sanguine that the lack of affordability won't have an impact on our sales at some point in time.

Oct 03, 2017 11:51 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Richard Bazinet /MBA, CRS, ABR ~ and thank you, Richard, for such a lovely comment. You made my day!

Oct 03, 2017 11:51 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Wayne Martin ~ hi Wayne... a bit more inventory and price increases might slow and we might actually see more pending and closed sales.

Oct 03, 2017 11:52 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Lise Howe ~ hi Lise... no not back yet. Back in Charlotte and at my desk on the 10th.

Oct 03, 2017 11:54 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Joan Cox ~ hi Joan... what keeps worrying me is that I get the calls but they seem mostly to be prefaced by "isn't there something at a lower price?"

Oct 03, 2017 11:55 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Gita Bantwal ~ hi Gita... thanks as always for popping by. Trust you are having a wonderful Tuesday.

Oct 03, 2017 11:56 AM
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Nina I would love to see those average days on the market around here.  Maybe that would finally motivate Buyers and Sellers to act now.

Oct 03, 2017 12:24 PM
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

We are seeing an average of 5% increase to 8 in some areas. Hope you had a good day, was busy here and calling it a day Nina Hollander 

Oct 03, 2017 04:14 PM
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

Whatever happened to Ballantyne North Carolina housing market? The best way to find out the market conditions is seek a professional like Nina Hollander 

Oct 03, 2017 04:32 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

George Souto ~ hi George... the problem with those dom numbers is that they keep sellers from listing because they worry they won't find a new home.

Oct 03, 2017 10:37 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Paul S. Henderson, CRS, REALTOR®, ~ as they say, Paul... ask and ye shall receive.... in my case, ask and I'll tell you all about the Ballantyne market!

Oct 03, 2017 10:38 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Scott Godzyk ~ hi Scott... I'm actually in Russia in  St Petersburg for a family visit... so I'm busy, but not so much with work.

Oct 03, 2017 10:39 PM
Roy Kelley
Retired - Gaithersburg, MD

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

Oct 04, 2017 03:56 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Thanks Roy Kelley ! Trust you are enjoying your day and as always thanks for stopping by.

Oct 04, 2017 11:30 AM