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

By
Real Estate Agent with Coldwell Banker Residential Brokerage

Welcom to Ballantyne

 

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

 

The average sale price of Ballantyne area homes increased by 6.4% to just over $361,000 as compared with the same period one year ago. (Median sale price in July 2017 was also up 9.7% versus one year ago.)

 

Average days on market for property listings dropped to 31 days from 35 days one year ago--an 11.4% improvement over the same period last year. Median days on market also dropped by 35.7% to 9 days in July 2017. 

 

Average price per square foot increased by 6.2% to $138/square foot in July 2017 versus the same period in 2016. Pending sales were up 5.7% in July versus the same month last year, July 2017 closed sales  were up 5.8%. 

 

The number of showings per listing and the number of showings until pending contract per listing also improved. During July 2017, listed homes averaged 10.4 showings (up 1.0% versus July 2016) and 23 showings until pending contract (down 4.2% 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 more quickly.

 

The median percent of original list price that sellers received for their homes was up 0.7% compared with last year at 98.3%, showing how little negotiating room there is in the 28277 zip code for Ballantyne area homes.

 

New listings increased 3.0% versus July 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 10.0% versus July 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 half of 2017, as Ballantyne area homes continue to sell, sell faster, and sell for more money. 

 

 

Ballantyne Area Local Market Update - July 2017

 

 

 

 

 

 

 

 

 

 SEARCH ALL BALLANTYNE AREA HOMES 

 

WONDERING WHAT YOUR BALLANTYNE AREA HOME IS WORTH?

 

 

Previous Ballantyne Area Housing Market Updates:

 

Ballantyne Housing Market Update: June 2017

Ballantyne Housing Market Update: May 2017 

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

 

  

 

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
3,243,261
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Nina. May thinventory not become an epidemic in your market! Enjoy your day!

Aug 02, 2017 04:40 AM #1
Rainmaker
3,060,499
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Wayne Martin ~ good morning, Wayne... thinventory is a real issue in our market... but so far we seem to be chugging along okay.

Aug 02, 2017 05:16 AM #2
Rainmaker
3,142,956
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Good Morning Nina Hollander,  Nina, your report is great for buyers and sellers in your area.  Hope you have a great day!

Aug 02, 2017 05:25 AM #3
Rainmaker
3,060,499
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Will Hamm ~ good morning, Will... and thank you. Have a great day today, yourself!

Aug 02, 2017 05:42 AM #4
Ambassador
3,082,073
Paul S. Henderson, REALTOR®, CRS
RE/MAX Northwest. - Tacoma, WA
Tacoma Washington Agent/Broker & Market Authority!

It's always good news to be able to report great housing updates to go along with our economy at this time. Thank you for showing us more about the Charlotte North Carolina housing market Nina Hollander 

Aug 02, 2017 07:16 AM #5
Rainmaker
1,595,231
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co. Notary Services, retired Realtor

I'm very envious of your market Nina Hollander , wish I was there

Aug 02, 2017 08:33 AM #6
Rainmaker
3,060,499
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Paul S. Henderson, CRS, REALTOR®, ~ hi Paul... it is nice to have good news to report, but I haven't forgotten all those reports of a few years back with did not have positive news.

Aug 02, 2017 08:46 AM #7
Rainmaker
3,060,499
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Bob "RealMan" Timm ~ hi Bob... while it is a solid market, the thinventory here for three years straight is making it stressful for buyers, sellers, and their agents.

Aug 02, 2017 08:47 AM #8
Rainmaker
2,189,557
Elizabeth Weintraub Sacramento Realtor Top 1%
RE/MAX Gold - Sacramento, CA
Put 40 years of experience to work for you

It's interesting to me, Nina, that your Board counts the number of showings in Ballantyne and tracks that data. We don't do that in Sacramento. With broker previews, it's hard to track anyway, because you'd have to separate out the agents who wandered through out of sheer curiosity and those who brought buyers.

Aug 02, 2017 08:47 AM #9
Rainmaker
3,060,499
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Elizabeth Weintraub Sacramento Real Estate Agent, Top 1% of Lyon Agents ~ hi Elizabeth... we can capture previews separately from actual showings. I find these statistics helpful (as I can break them down further by price point, neighborhood, etc.) to review with sellers if they feel they aren't getting enough showings. Most times they are getting more than their neighbors.

Aug 02, 2017 08:55 AM #10
Ambassador
3,784,182
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Nina the housing market in your area appear to be as hot as this Summer.  Keep it going.

Aug 02, 2017 11:20 AM #11
Rainmaker
3,060,499
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

George Souto ~ hi George... market is hot, weather is hot... no doubt about in the Charlotte area!

Aug 02, 2017 11:55 AM #12
Rainmaker
3,247,570
Lou Ludwig
Ludwig & Associates - Boca Raton, FL
Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC

Nina

The July 2017  real estate market update for Ballantyne a Charlotte North Carolina show an active real estate market.

Good luck and success.

Lou Ludwig

Aug 02, 2017 07:07 PM #13
Rainmaker
3,060,499
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Lou Ludwig ~ hi Lou... active market, indeed, in Ballantyne. One can only wonder how much more active it would be if we had more inventory.

Aug 03, 2017 03:34 AM #14
Rainmaker
5,347,478
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Families moving to the area will appreciate your local real estate market reports.

The Carolinas are favorite destinations for Maryland retirees.

Aug 03, 2017 04:11 AM #15
Rainmaker
3,060,499
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Roy Kelley ~ hi Roy... I'm not surprised at the popularity of the Carolinas, but as I've not seen many from Maryland, I wonder if they are heading towards the mountains or more towards Hilton Head.

Aug 03, 2017 04:12 AM #16
Rainmaker
4,797,120
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Good morning Nina.  Thanks for keeping us informed about the real estate market in the  Ballantyne area of Charlotte, NC.

Aug 03, 2017 04:42 AM #17
Rainmaker
3,060,499
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Gabe Sanders ~ good morning, Gabe... it's that time again... monthly updates! They seem to come around with "frightening" regularity!

Aug 03, 2017 04:55 AM #18
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