What Happened In Ballantyne's Housing Market In Charlotte In Oct 2017?

By
Real Estate Agent with Coldwell Banker Residential Brokerage
https://activerain.com/droplet/586L

Welcom to Ballantyne

 

October 2017 home sales in the Ballantyne area of Charlotte, North Carolina (28277 zip code) continued the trends we've seen all year with home prices up, inventory tightening, pending and closed sales struggling to hold on.

 

The average sale price of Ballantyne area homes increased by 3.8% to just under $361,000 as compared with the same period one year ago. (Median sale price in October 2017 was also up 6.7% versus one year ago.)

 

Average days on market for property listings dropped to 31 days from 33 days one year ago--a 6.1% improvement over the same period last year. Median days on market also dropped by 30.8% to 8 days in October 2017. 

 

Average price per square foot increased by 6.1% to $140/square foot in October 2017 versus the same period in 2016. Pending sales were down 1.7% in October versus the same month last year, October 2017 closed sales  were up 1.2%. It's not unreasonable to assume that both pending and closed sales would have been higher if there had been more inventory in October.

 

The number of showings per listing and the number of showings until pending contract per listing also dropped. During October 2017, listed homes averaged 10 showings (down 3.8% versus October 2016) and 22 showings until pending contract (down 8.3% 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 less "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 98.4%, showing how little negotiating room there is in the 28277 zip code for Ballantyne area homes.

 

New listings decreased  2.1% versus October 2016, 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 October 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 in the remaining months of 2017.

 

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

 

 

Ballantyne Area Local Market Update - October 2017

 

 

 

 

 

 

 

 

 SEARCH ALL BALLANTYNE AREA HOMES 

 

WONDERING WHAT YOUR BALLANTYNE AREA HOME IS WORTH?

 

 

Previous Ballantyne Area Housing Market Updates:

 

Ballantyne Housing Market Update: September 2017

Ballantyne Housing Market Update: August 2017

Ballantyne Housting Market Update: July 2017

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

 

 

 

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'd 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
3,242,119
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Nina. Tight inventory is pushing prices and demanding faster decisions by buyers! Enjoy your day!

Nov 07, 2017 04:20 AM #1
Rainmaker
3,059,250
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Wayne Martin ~ good morning, Wayne... that is true... and the higher prices are also pushing more buyers out of the market as a result.

Nov 07, 2017 04:24 AM #2
Rainmaker
5,347,038
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

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

Nov 07, 2017 06:28 AM #3
Rainmaker
2,518,868
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

We can always count on you to keep us up to date!  I hope that I didn't miss seeing the Indian Land update.

Nov 07, 2017 06:31 AM #4
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 

Nov 07, 2017 06:38 AM #5
Rainmaker
754,401
Nick Vandekar, 610-203-4543
Long & Foster Real Estate Inc 610-225-7400 - Devon, PA
Tredyffrin Easttown Realtor, Philly Main Line

Nicely written market report for Ballantyne.

Nov 07, 2017 07:03 AM #6
Rainmaker
4,064,791
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Nina, lots of valuable information on the Ballantyne real estate market, and shows your expertise.

Nov 07, 2017 07:47 AM #7
Rainmaker
1,602,280
Jeremy K. Frost
Keller Williams Realty - Dripping Springs, TX
Associate Broker, CNE, CRS, ePro, PSA

Thank you for keeping us posted and in the loop. Best of luck!

Nov 07, 2017 08:38 AM #8
Rainmaker
3,059,250
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Roy Kelley ~ thanks, Roy. As always I appreciate your taking time to pop by and leave a comment.

Nov 07, 2017 09:29 AM #9
Rainmaker
3,059,250
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Joan Cox ~ hi Joan... and thank you. I call it "street cred." But hopefully, people get the point.

Nov 07, 2017 09:30 AM #10
Rainmaker
3,059,250
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Brian England ~ hi Brian... no worries... Indian Land update is coming soon... maybe even this afternoon!

Nov 07, 2017 09:31 AM #11
Rainmaker
3,059,250
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Jeremy K. Frost ~ thanks, Jeremy... trust you are doing well and enjoying the early start of the holiday season.

Nov 07, 2017 09:32 AM #12
Rainmaker
3,059,250
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Nick & Trudy Vandekar, 610-203-4543 ~ thanks, Nick. If you plan to be in the area any time over the holidays, let me know.

Nov 07, 2017 09:32 AM #13
Rainmaker
3,059,250
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Gita Bantwal ~ hi Gita... thanks... always happy to see you pop by and leave a comment.

Nov 07, 2017 09:33 AM #14
Rainmaker
5,347,038
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Ballantyne area home sellers will be in very good hands when they select you as their listing agent.

Nov 08, 2017 05:56 AM #15
Rainmaker
3,059,250
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Roy Kelley ~ thanks, Roy... I appreciate your endorsement... meantime, wishing you a lovely Wednesday.

Nov 08, 2017 07:20 AM #16
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Rainmaker
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