What Happened In Ballantyne's Housing Market In Charlotte, NC~March 2017

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Real Estate Agent with Coldwell Banker Residential Brokerage

Welcom to Ballantyne

 

March 2017 home sales in the Ballantyne area of Charlotte, North Carolina (28277 zip code) continued the strong start of the new year with home prices up, inventory down, pending and closed sales up.

 

The average sale price of Ballantyne area homes increased by 4.5% to just under $351,000 as compared with the same period one year ago. (Median price in March 2017 was also up 7.5% versus one year ago.)

 

Average days on market for property listings dropped to 32 days from 39 days just one year ago--a 17.9% improvement over the same period last year. Median days on market also dropped by 31.3% to 11 days in March 2017. 

 

Average price per square foot increased by 5.5% to $135/square foot in March 2017 versus the same period in 2016. Pending sales were up 6.9% in March versus the same month last year, while March 2017 closed sales  were up 9.0%. 

 

The number of showings per listing and the number of showings until pending contract per listing also improved. During March 2017, listed homes averaged 10 showings (up 4.2% versus March 2016) and 22 showings until pending contract (down 8.0% versus the same time period one year ago). Given the tight inventory of available homes for sale, it's not surprising that listed homes get considerable "foot traffic" prior to going under contract.

 

The median percent of original list price that sellers received for their homes was up 0.7% compared with last year at 98.0%, showing how little negotiating room there is in the 28277 zip code for Ballantyne area homes.

 

New listings increased 6.8% versus March 2016, but still hardly relieving the strain to a high demand market starved of available inventory. The Ballantyne area's months supply of homes remains at below two months at 1.9 months (down 9.5% versus March 2016). 

 

Without doubt, it continues to be a seller's market in the 28277 zip code and very competitive, with many homes selling within days of being listed for sale, and with little indication that this will change any time soon in 2017.

 

The strong housing market we saw in Ballantyne area throughout 2016 continued through the first quarter of 2017, as Ballantyne area homes continued to sell, sell faster, and sell for more money. 

 

 

Ballantyne Area Local Market Update - March 2017

 

 

 

 

 

 

 

 

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Previous Ballantyne Area Housing Market Updates:

 

Ballantyne Housing Market Update: February 2017 

Ballantyne Housing Market Update: January 2017

Ballantyne Housing Market Update: December 2016

Ballantyne Housing Market Update: November 2016

Ballantyne Housing Market Update: October 2016

Ballantyne Housing Market Update: September 2016

Ballantyne Housing Market Update: August 2016

Ballantyne Housing Market Update: July 2016

Ballantyne Housing Market Update: June 2016

Ballantyne Housing Market Update: May 2016

Ballantyne Housing Market Update: April 2016

Ballantyne Housing Market Update: March 2016

 



This Charlotte, North Carolina real estate monthly update for Ballantyne is brought to you courtesy of Nina Hollander and Carolinas Realty Partners, RE/MAX Executive your Ballantyne area neighbors and Charlotte metro area real estate consultants. 

 

If you are considering selling or purchasing a home in the Charlotte metro area, I would love an opportunity to earn your business, exceed your expectations, and to prove to you that:

 "The Right Broker Makes All The Difference."

 

 

 

 

Originally published at: http://www.greathomesincharlotte.com/ballantynes-housing-market-update-in-charlotte-nc-march-2017 

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SEARCH ALL CHARLOTTE METRO AREA HOMES HERE

 

 Nina Hollander, RE/MAX Broker, Realtor

 

 

 

 

 

 

Nina Hollander

Broker, Realtor, MBA, GRI, ABR, SRES, CDPE, SFR, SPS, CMRS
Carolinas Realty Partners with Coldwell Banker Residential Brokerage
Direct: 704-779-0813
Website: www.GreatHomesInCharlotte.com
Blog: News You Can Use From Charlotte/Ballantyne/Waxhaw/Fort Mill
Search For All Charlotte Area Homes: www.GreatHomesInCharlotte.com 

2007 - 2019 Charlotte Magazine 5-Star Customer Satisfaction Award Winner

 

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Disclaimer:  Nothing in this blog article is to be construed as legal advice, tax advice, or financial advice.  For legal advice see an attorney.   For tax advice or financial advice see a tax attorney, certified public accountant, or other qualified professional.

 

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Show All Comments
Rainmaker
5,342,910
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Families on the move will certainly appreciate your local real estate market reports.

Apr 06, 2017 05:55 AM #1
Rainmaker
1,593,312
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co. Notary Services, retired Realtor

Those are some GREAT numbers Nina Hollander , thanks for sharing them with us.

Apr 06, 2017 06:28 AM #2
Rainmaker
2,512,769
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

Seems like a pretty strong market to me and I am sure that Ballantyne is a great place to call home!

Apr 06, 2017 06:34 AM #3
Rainmaker
3,052,913
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Brian England ~ hi Brian... it is a strong market and I personally call the Ballantyne area home!

Apr 06, 2017 06:47 AM #4
Rainmaker
3,052,913
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Roy Kelley ~ thanks, Roy, for the pop-by! Have a great rest of the week!

Apr 06, 2017 06:48 AM #5
Rainmaker
3,052,913
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Bob "RealMan" Timm ~ hi Bob... can't complain about the Ballantyne numbers overall except for lack of inventory.

Apr 06, 2017 06:48 AM #6
Rainmaker
1,535,635
Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West & Geneva Financial, Llc. - Carlsbad, CA
Presence, Persistence & Perseverance

Nina Hollander Your market continues to accelerate with the market strength that shows a strong Sellers' Market. Great job on your report.

Apr 06, 2017 07:45 AM #7
Rainmaker
3,052,913
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Sandy Padula and Norm Padula, JD, GRI NMLS#1483386 ~ hi Sandy and Norm... and we haven't even yet begun our spring selling season in earnest!

Apr 06, 2017 07:53 AM #8
Rainmaker
4,432,093
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

You always provide good information about your housing market. Thank you for sharing 

Apr 06, 2017 06:21 PM #9
Rainmaker
3,980,831
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

WE are like broken records... values are going up and up

Apr 06, 2017 07:07 PM #10
Rainmaker
3,052,913
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

William Feela ~ and also on the subject of inventory, Bill, which keeps going down and down!

Apr 07, 2017 04:00 AM #11
Rainmaker
3,052,913
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Gita Bantwal ~ hi Gita... thanks... hope you are looking forward to a really lovely weekend.

Apr 07, 2017 04:00 AM #12
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Rainmaker
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Nina Hollander

Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor
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