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

By
Real Estate Agent with Coldwell Banker Residential Brokerage
https://activerain.com/droplet/592X

Welcom to Ballantyne

 

December 2017 home sales in the Ballantyne area of Charlotte, North Carolina (28277 zip code) ended 2017 with 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 5.7% to just over $368,000 as compared with the same period one year ago. (Median sale price in December 2017 was also up 10.0% versus one year ago.)

 

Average days on market for property listings dropped to 31 days from 32 days one year ago--a 3.1% improvement over the same period last year. Median days on market also dropped by 25.0% to 9 days in December 2017. 

 

Average price per square foot increased by 6.8% to $142/square foot in December 2017 versus the same period in 2016. Pending sales were down 1.1% in December versus the same month last year. December 2017 closed sales  were down 0.9%. It's not unreasonable to assume that both pending and closed sales would have been higher if there had been more inventory, which was down almost 1% in December 2017 versus the prior year. Holiday seasonality probably also impacted pending and closed sales.

 

The number of showings per listing and the number of showings until pending contract per listing also dropped. During December 2017, listed homes averaged 10 showings (down 4.8% versus December 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 0.5% 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  0.9% versus December 2016, contributing to the strain of 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 December 2016). 

 

Without doubt, Ballantyne's housing market in 2017 ended as it began... as a seller's market in the 28277 zip code and very competitive, with many homes selling within days of being listed for sale. 

 

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

 

 

Ballantyne Area Local Market Update - December 2017

 

 

 

 

 

 

 

 

 SEARCH ALL BALLANTYNE AREA HOMES 

 

WONDERING WHAT YOUR BALLANTYNE AREA HOME IS WORTH?

 

   

Previous Ballantyne Area Housing Market Updates:

 

Ballantyne Housing Market Update: November 2017 

Ballantyne Housing Market Update: October 2017

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

 

 

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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Market Reports
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2017 Market Trend Reports
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Tags:
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ballantyne area housing market still strong
ballantyne area housing market update december 2017
ballantyne remains a sellers market in 2017

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Rainmaker
1,666,198
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker and Attorney Licensed in DC, MD, VA,

Definitely good information to share with buyers and sellers alike - thanks for keeping us up to date on what is going on in the Charlotte market. 

Jan 02, 2018 05:27 AM #5
Rainmaker
3,051,927
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Anthony Acosta - ALLATLANTACONDOS.COM ~ hi Anthony... thanks for the good wishes... 150% would be quite an improvement!

Jan 02, 2018 05:31 AM #6
Rainmaker
3,051,927
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Wayne Martin ~ good morning, Wayne... you hit the nail on the head here... after two years of being a seller's market, there doesn't seem to be much on the horizon to indicate that Ballantyne will be anything but a seller's market in 2018.

Jan 02, 2018 05:32 AM #7
Rainmaker
703,851
Richard Bazinet /MBA, CRS, ABR
West USA Realty - Scottsdale, AZ
Phoenix Scottsdale. Sellers, Buyers & Relocations

Good morning Nina!!! Great report, thank you. Very interesting numbers. Parallel to our market as well.

Jan 02, 2018 05:33 AM #8
Rainmaker
3,051,927
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Marco Giancola ~ good morning, Marco... and there's the rub... getting listings in Ballantyne is very tough... many sellers are afraid to list because they worry they won't find the next home at a price they can afford.

Jan 02, 2018 05:33 AM #9
Rainmaker
3,051,927
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Lise Howe ~ thanks, Lise... there will be a lot of market updates in the next week or so from my end as we review the last month of the year, the 4th quarter, the full year.

Jan 02, 2018 05:34 AM #10
Rainmaker
3,051,927
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Richard Bazinet /MBA, CRS, ABR ~ good morning, Richard... our markets parallel a number of markets around the country.... biggest differences is by how much prices are increasing in one metro area versus another.

Jan 02, 2018 05:34 AM #11
Rainmaker
3,051,927
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400 ~ good morning, Sheila and Larry... since I've lived in Ballantyne since 2001 and have a vested interest in this part of Charlotte... I do have all the details and keep close track!

Jan 02, 2018 05:35 AM #12
Rainmaker
5,342,694
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

This is great information to share with families moving to the area.

Jan 02, 2018 05:47 AM #13
Rainmaker
3,051,927
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Roy Kelley ~ hi Roy... it is good information that hopefully won't scare them away.

Jan 02, 2018 06:10 AM #14
Rainmaker
2,512,058
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

Things are moving right along in Ballantyne and as always, you are right on top of it.

Jan 02, 2018 06:17 AM #15
Rainmaker
3,051,927
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Brian England ~ hi Brian... my only concern is that prices keep going up but sales not so much as there's not enough inventory.

Jan 02, 2018 06:28 AM #16
Ambassador
3,779,791
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Nina hope the positive market in your area the year ended with in 2017 continues throughout 2018!!!

Jan 02, 2018 08:44 AM #17
Rainmaker
3,051,927
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

George Souto ~ hi George.. for now, anyway, I don't see much changing in the market that would depress home sales.

Jan 02, 2018 09:06 AM #18
Rainmaker
2,004,181
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Southlake, TX
Selling Homes Changing Lives

Since there's never a dull moment in the Charlotte, NC housing market, the most important advice I can give prospective buyers and sellers is to know that Nina Hollander is not a quitter. She sells to succeed and makes the process of buying and selling so much easier than consumers think. Listening to Nina is listening to the voice of reason. 

Patricia

Jan 02, 2018 09:38 AM #19
Rainmaker
4,064,097
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Nina, only NINE median days on market, thinking you will be experiencing a very strong Seller's market again in 2018! 

Jan 02, 2018 09:54 AM #20
Rainmaker
3,051,927
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Joan Cox ~ hi Joan... I have no doubt; have yet to see anything that would indicate more homes coming on the market to alleviate thinventory.

Jan 02, 2018 10:12 AM #21
Rainmaker
3,051,927
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Patricia Feager ~ hi Patricia... don't know that I've ever been called the voice of reason before... but I think I like it! (Certainly have never been accused of being a quitter.)

Jan 02, 2018 10:13 AM #22
Ambassador
3,077,263
Paul S. Henderson, REALTOR®, CRS
RE/MAX Northwest. - Tacoma, WA
Tacoma Washington Agent/Broker & Market Authority!

Those are very impressive data over last years numbers Nina Hollander 

Jan 02, 2018 08:02 PM #23
Rainmaker
3,051,927
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Paul S. Henderson, REALTOR®,CRS, ~ no doubt, Paul... we are entering a third year of these kind of numbers and I'm worried it will knock people out of the market.

Jan 03, 2018 03:43 AM #24
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Rainmaker
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