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What Happened In The Ballantyne, NC Housing Market In February 2018?

 
February 2018 home sales in the Ballantyne area of Charlotte, North Carolina (28277 zip code) saw the same trends of January -- with home prices up, inventory tightening, pending and closed sales struggling to hold on due to the lack of inventory.
 
The average sale price of Ballantyne area homes increased by 5.7% to just under $369,000 as compared with the same period one year ago. (Median sale price in February 2018 was also up 10.1% versus one year ago.)
 
Average days on market for property listings remained somewhat flat and increased by one versus one year ago. Median days on market, however, dropped by 18.2% to 9 days in February 2018.  
 
Average price per square foot increased by 6.0% to $142/square foot in February 2018 versus the same period in 2017. Pending sales were down 4.2% in February versus the same month last year. February 2018 closed sales  were down 2.6%. 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 5.3% in February 2018 versus the prior year. 
 
The number of showings per listing and the number of showings until pending contract per listing also dropped. During February 2018, listed homes averaged 9.8 showings (down 6.7% versus February 2017) and 22 showings until pending contract (down 8.3% versus the same ... more

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