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

 
October 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 3.8% to just under $361,000 as compared with the same period one year ago. (Median sale price in October 2017 was also up 6.7% 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 8 days in October 2017. 
 
Average price per square foot increased by 6.1% to $140/square foot in October 2017 versus the same period in 2016. Pending sales were down 1.7% in October versus the same month last year, October 2017 closed sales  were up 1.2%. It's not unreasonable to assume that both pending and closed sales would have been higher if there had been more inventory in October.
 
The number of showings per listing and the number of showings until pending contract per listing also dropped. During October 2017, listed homes averaged 10 showings (down 3.8% versus October 2016) and 22 showings until pending contract (down 8.3% versus the same time period one year ago). Given the tight ... more

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