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

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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

 

 

 

  

 

 

 

  

 

 SEARCH ALL BALLANTYNE AREA HOMES 

 

WONDERING WHAT YOUR BALLANTYNE AREA HOME IS WORTH?

 

 

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

 

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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Rainmaker
1,898,400
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
Rainmaker
4,064,691
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
Rainmaker
3,057,671
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
Rainmaker
3,057,671
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
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Rainmaker
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Nina Hollander

Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor
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