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Ballantyne, NC (28277 Zip Code) Housing Market Update: March 2018

 
March 2018 home sales in the Ballantyne area of Charlotte, North Carolina (28277 zip code) saw the same trends of January and February -- 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 4.8% to just under $368,000 as compared with the same period one year ago. (Median sale price in March 2018 was also up 8.5% versus one year ago.)
 
Average days on market for property listings decreased 3.1% to 31 days versus one year ago. Median days on market, however, dropped by 18.2% to 9 days in March 2018.  
 
Average price per square foot increased by 5.9% to $143/square foot in March 2018 versus the same period in 2017. Pending sales were down 4.2% in March versus the same month last year. March 2018 closed sales  were down 7.5%. 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 3.5% in March 2018 versus the prior year. 
 
The number of showings per listing and the number of showings until pending contract per listing also dropped. During March 2018, listed homes averaged 9.7 showings (down 8.7% versus March 2017) and 21 showings until pending contract (down 8.7% versus the same time period one year ... more

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