What Happened In Ballantyne's Housing Market In Charlotte, NC: May 2017

Real Estate Agent with Coldwell Banker Residential Brokerage

Welcom to Ballantyne


May 2017 home sales in the Ballantyne area of Charlotte, North Carolina (28277 zip code) continued the trends we saw in the first quarter with home prices up, inventory down, pending and closed sales up.


The average sale price of Ballantyne area homes increased by 5.8% to just under $359,000 as compared with the same period one year ago. (Median sale price in May 2017 was also up 8.3% versus one year ago.)


Average days on market for property listings dropped to 31 days from 38 days one year ago--a 18.4% improvement over the same period last year. Median days on market also dropped by 37.5% to 10 days in May 2017. 


Average price per square foot increased by 6.2% to $137/square foot in May 2017 versus the same period in 2016. Pending sales were up 6.9% in May versus the same month last year, May 2017 closed sales  were up 8.3%. 


The number of showings per listing and the number of showings until pending contract per listing also improved. During May 2017, listed homes averaged 9.9 showings (up 2.1% versus May 2016) and 23 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, while showings until pending contracts decrease as homes sell faster.


The median percent of original list price that sellers received for their homes was up 0.9% compared with last year at 98.2%, showing how little negotiating room there is in the 28277 zip code for Ballantyne area homes.


New listings increased 6.1% versus May 2016, but still barely 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 1.8 months (down 14.3% versus May 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 and now continues into the second quarter, as Ballantyne area homes continue to sell, sell faster, and sell for more money. 



Ballantyne Area Local Market Update - May 2017















Previous Ballantyne Area Housing Market Updates:


Ballantyne Housing Market Update: April 2017 

Ballantyne Housing Market Update: March 2017 

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



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."



Posted by




 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


 Connect with me also on these sites:  


facebook google plustwitterlinkedinpinterest



Oh by the way, I'm never too busy for any of your referrals!


Find Your Charlotte Home


How Much Is My Home Worth       Free Charlotte Relocation Package




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.



This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Real Estate Market Trends
North Carolina Mecklenburg County Charlotte
Charlotte NC Real Estate
Market Reports
Buyer Information - What Buyers Need to Know in Today's Market
2017 Market Trend Reports
ballantyne real estate
ballantyne homes
ballantyne homes for sale
ballantyne area housing market update
great homes in charlotte
ballantyne area housing market update may 2017

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good Morning Nina - this is a very upbeat report.  I am sure you are very busy.

Jun 03, 2017 07:25 AM #1
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Nina, great market update for Ballantyne, and looks like prices are doing very well for Sellers.

Jun 03, 2017 07:27 AM #2
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Joan Cox ~ hi Joan... inventory here in Ballantyne is very tight for anything priced under $350K. We hardly have one month's worth right now.

Jun 03, 2017 07:32 AM #3
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Grant Schneider - hi Grant... I'm busy but not as much in Ballantyne as in other areas of Charlotte as people are not listing their homes.

Jun 03, 2017 07:33 AM #4
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?


Nina Hollander

Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor
What real estate questions can I answer for you today?
Spam prevention

Additional Information