What Happened In Ballantyne's Housing Market In Charlotte In Nov 2017?

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Real Estate Agent with RE/MAX Executive | Charlotte, NC
http://actvra.in/58C8

Welcom to Ballantyne

 

November 2017 home sales in the Ballantyne area of Charlotte, North Carolina (28277 zip code) continued the trends we've seen all year with home prices up, inventory tightening, pending and closed sales struggling to hold on.

 

The average sale price of Ballantyne area homes increased by 5.2% to just over $364,000 as compared with the same period one year ago. (Median sale price in November 2017 was also up 9.4% versus one year ago.)

 

Average days on market for property listings dropped to 31 days from 32 days one year ago--a 3.1% improvement over the same period last year. Median days on market also dropped by 33.3% to 8 days in November 2017. 

 

Average price per square foot increased by 6.0% to $141/square foot in November 2017 versus the same period in 2016. Pending sales were down 1.1% in November versus the same month last year. November 2017 closed sales  were down 3.0%. It's not unreasonable to assume that both pending and closed sales would have been higher if there had been more inventory in November, which was down 10% in November 2017 versus the prior year.

 

The number of showings per listing and the number of showings until pending contract per listing also dropped. During November 2017, listed homes averaged 10 showings (down 4.8% versus November 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 less "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 decreased  0.9% versus November 2016, contributing to the strain of 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 November 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. .

 

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

 

 

Ballantyne Area Local Market Update - November 2017

 

 

 

 

 

 

 

 

 

 SEARCH ALL BALLANTYNE AREA HOMES 

 

WONDERING WHAT YOUR BALLANTYNE AREA HOME IS WORTH?

 

 

 

 

Previous Ballantyne Area Housing Market Updates:

 

Ballantyne Housing Market Update: October 2017

Ballantyne Housing Market Update: September 2017

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

 

 

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'd 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

 

SEARCH ALL CHARLOTTE METRO AREA HOMES HERE

 

Nina Hollander, Broker, Realtor / REMAX / Carolinas Realty Partners / Ph: 704.779.0813 / F: 704.341.3346 / E: Nina@NinaHollander.com / W: www.GreatHomesInCharlotte.com

Nina Hollander
Broker, Realtor, CRS, GRI, ABR, SRES, CDPE, SFR, SPS, CMRS
Carolinas Realty Partners with RE/MAX Executive Realty
Direct: 704-779-0813
Website: www.GreatHomesInCharlotte.com
Blog: http://activerain.com/blogs/ninahollander
Search for Charlotte Area Homes: www.HomesInCharlotteArea.com

2007 - 2016 Charlotte Magazine 5-Star Customer Satisfaction Award Winner

 

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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.

 

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Rainmaker
2,376,362
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker

Good morningn Nina. Thinventory is good for sellers but bad for agents and buyers! Enjoy your day!

Dec 04, 2017 04:36 AM #1
Rainmaker
2,104,506
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Waxhaw/Fort Mill Area Realtor

Wayne Martin ~ good morning, Wayne...it's especially bad for first time buyers in our market, who are getting shut out of it.

Dec 04, 2017 04:40 AM #2
Rainmaker
1,373,176
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker and Attorney Licensed in DC, MD, VA,

Your market analyses are always so complete! You really do a great job of keeping your readers updated! 

Dec 04, 2017 04:43 AM #3
Rainmaker
2,104,506
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Waxhaw/Fort Mill Area Realtor

Lise Howe ~ good morning, Lise... thank you. At the end of the day, why go through this exercise without being complete and telling the full "story?"

Dec 04, 2017 04:46 AM #4
Rainmaker
3,227,041
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Nina, great market update for Ballantyne, and shows your readers your expertise and knowledge!  

Dec 04, 2017 07:31 AM #5
Ambassador
1,399,117
Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

Obviously still a strong sellers market. It is so tough for first-time homebuyers right now. My daughter lives in Denver and we want to help her purchase a home, but that market is so hot,  it's a terrible time to buy. We keep hoping it's going to soften a bit...??? 

Dec 04, 2017 07:37 AM #6
Rainmaker
2,367,703
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Nina, and another great report for your buyers and sellers to see what your market looks like.

 

Dec 04, 2017 07:48 AM #7
Ambassador
3,302,390
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Nina hopefully the inventory increases with the start of a new year so we can continue to see healthy market in your area.

Dec 04, 2017 08:20 AM #8
Rainmaker
1,325,379
Yolanda Cordova-Gilbert
Sitterle Homes - Richmond, TX
Sitterle Homes

Nina,

 Good market report for people in your area be they buyers or sellers! Have a great week!

Dec 04, 2017 11:33 AM #9
Rainmaker
2,104,506
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Waxhaw/Fort Mill Area Realtor

Yolanda Cordova-Gilbert ~ hi Yolanda... certainly a good report for sellers... for buyers... less so... they are hearing they will pay more for less! 

Dec 04, 2017 12:50 PM #10
Rainmaker
2,104,506
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Waxhaw/Fort Mill Area Realtor

George Souto ~ hi George... our market remains healthy overall... it's just a question of how much better would it be if we had more inventory.

Dec 04, 2017 12:51 PM #11
Rainmaker
2,104,506
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Waxhaw/Fort Mill Area Realtor

Will Hamm ~ hi Will... not always sure the buyers want to hear the message "higher prices, less to choose from." 

Dec 04, 2017 12:52 PM #12
Rainmaker
2,104,506
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Waxhaw/Fort Mill Area Realtor

Joan Cox ~ thanks, Joan. At some level it's all about building that street "credibility" as I refer to it.

Dec 04, 2017 12:52 PM #13
Rainmaker
2,104,506
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Waxhaw/Fort Mill Area Realtor

Debb Janes EcoBroker and Bernie Stea JD ~ hi Debb... I feel your daughter's pain... it's increasingly the same here in Charlotte for first-time buyers and until we have more inventory I don't see the market softening in terms of prices. And we've been at it here for two years now.

Dec 04, 2017 12:53 PM #14
Rainmaker
3,710,251
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 

Dec 05, 2017 02:56 AM #15
Rainmaker
2,104,506
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Waxhaw/Fort Mill Area Realtor

Gita Bantwal ~ good morning, Gita... thank you. As always my thanks to you for taking time to pop by.

Dec 05, 2017 03:25 AM #16
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Rainmaker
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