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

 
December 2017 home sales in the Ballantyne area of Charlotte, North Carolina (28277 zip code) ended 2017 with 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 5.7% to just over $368,000 as compared with the same period one year ago. (Median sale price in December 2017 was also up 10.0% 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 25.0% to 9 days in December 2017. 
 
Average price per square foot increased by 6.8% to $142/square foot in December 2017 versus the same period in 2016. Pending sales were down 1.1% in December versus the same month last year. December 2017 closed sales  were down 0.9%. It's not unreasonable to assume that both pending and closed sales would have been higher if there had been more inventory, which was down almost 1% in December 2017 versus the prior year. Holiday seasonality probably also impacted pending and closed sales.
 
The number of showings per listing and the number of showings until pending contract per listing also dropped. During December ... more

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