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Ballantyne, NC (28277 Zip Code) Housing Market Update/Video - May 2018
 
Ballantyne May 2018 Housing Market Update/Video
 
May 2018 home sales in the Ballantyne area of Charlotte, North Carolina (28277 zip code) saw the same trends we've seen year-to-date with home prices up, inventory tightening, pending and closed sales diminishing due to the lack of inventory.
 
 
 
 
The average sale price of Ballantyne area homes increased by 2.1% to just over $367,000 as compared with the same period one year ago. (Median sale price in May was also up 6.3% versus one year ago.)
 
Average days on market for property listings were flat at 31 days versus one year ago. Median days on market, however, dropped by 10.0% to 9 days in May 2018.  
 
Average price per square foot increased by 5.1% to $144/square foot in May 2018 versus the same period in 2017. Pending sales were down 6.1% in May versus the same month last year. May 2018 closed sales  were down 6.7%. 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 13.2% in May 2018 versus the prior year. 
 
The number of showings per listing and the number of showings until pending contract per listing also dropped. During May 2018, listed homes averaged 9.7 showings (down 7.6% versus May 2017) and 21 showings until pending contract (down 8.7% versus the same time period one year ago). Given the tight ... more

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