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

 
July 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 6.4% to just over $361,000 as compared with the same period one year ago. (Median sale price in July 2017 was also up 9.7% versus one year ago.)
 
Average days on market for property listings dropped to 31 days from 35 days one year ago--an 11.4% improvement over the same period last year. Median days on market also dropped by 35.7% to 9 days in July 2017. 
 
Average price per square foot increased by 6.2% to $138/square foot in July 2017 versus the same period in 2016. Pending sales were up 5.7% in July versus the same month last year, July 2017 closed sales  were up 5.8%. 
 
The number of showings per listing and the number of showings until pending contract per listing also improved. During July 2017, listed homes averaged 10.4 showings (up 1.0% versus July 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 ... more

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