What Happened In The Ballantyne Housing Market In January 2018?

Real Estate Agent with RE/MAX Executive | Charlotte, NC

Welcom to Ballantyne


January 2018 home sales in the Ballantyne area of Charlotte, North Carolina (28277 zip code) began 2018 as they ended 2017 -- with home prices up, inventory tightening, pending and closed sales struggling to hold on due to the lack of inventory.


The average sale price of Ballantyne area homes increased by 6.1% to just under $369,000 as compared with the same period one year ago. (Median sale price in January 2018 was also up 11.7% 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 January 2018.  


Average price per square foot increased by 6.8% to $142/square foot in January 2018 versus the same period in 2017. Pending sales were down 4.6% in January versus the same month last year. January 2018 closed sales  were down 2.1%. 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 3.9% in January 2018 versus the prior year. 


The number of showings per listing and the number of showings until pending contract per listing also dropped. During January 2018, listed homes averaged 9.8 showings (down 7.5% versus January 2017) and 21 showings until pending contract (down 12.5% 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  1.1% versus January 2017, 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 5.3% versus January 2017). 


Without doubt, Ballantyne's housing market in 2018 began as the prior year ended... 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 and 2017 seems intent on continuing in 2018, as Ballantyne area homes continue to sell, sell faster, and sell for more money. 



Ballantyne Area Local Market Update - January 2018















Previous Ballantyne Area Housing Market Updates:


Ballantyne Housing Market Update: December 2017

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



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."



Originally posted at:   https://www.greathomesincharlotte.com    https://www.greathomesincharlotte.com/ballantyne-housing-market-update-video-january-2018 

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Nina Hollander, Broker, Realtor / REMAX / Carolinas Realty Partners / Ph: 704.779.0813 / F: 704.341.3346 / E: Nina@NinaHollander.com / W: www.GreatHomesInCharlotte.com

Nina Hollander
Broker, Realtor, CRS, GRI, ABR, SRES, CDPE, SFR, SPS, CMRS
Carolinas Realty Partners with RE/MAX Executive Realty
Direct: 704-779-0813
Website: www.GreatHomesInCharlotte.com
Blog: http://activerain.com/blogs/ninahollander
Search for Charlotte Area Homes: www.HomesInCharlotteArea.com

2007 - 2016 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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Jeremy K. Frost
Keller Williams Realty - Dripping Springs, TX
Associate Broker, CNE, CRS, ePro, PSA

Appreciate you sharing this information with us. Have a SUPER Sunday!

Feb 04, 2018 11:24 AM #1
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Jeremy K. Frost ~ hi Jeremey... thank you. And wishing you a super Sunday on Super Bowl Sunday as well!

Feb 04, 2018 11:41 AM #2
Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

Families moving to the area will love your local community reports.

Feb 04, 2018 12:21 PM #3
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Roy Kelley ~ thank you, Roy. Did you notice I added a video recapping highlights?

Feb 04, 2018 01:00 PM #4
Patricia Feager
Selling Homes Changing Lives

As the world turns, Nina Hollander knows her market, minute-by-minute! 

Nina, your marketing reports are always easy to understand and that is a great compliment to you! I can understand why you are a Five Star Agent in your area. 

Feb 05, 2018 08:28 AM #5
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Patricia Feager ~ hi Patricia... thank you so much for the compliment. I've never quite understood how agents don't know/understand their markets. Our MLS has so much information available to us... it's just a question of finding it, reading it, using it.

Feb 05, 2018 08:41 AM #6
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