What Happened In The Ballantyne, NC Housing Market In February 2018?

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Real Estate Agent with Coldwell Banker Residential Brokerage | Charlotte, NC

Welcom to Ballantyne

 

February 2018 home sales in the Ballantyne area of Charlotte, North Carolina (28277 zip code) saw the same trends of January -- 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 5.7% to just under $369,000 as compared with the same period one year ago. (Median sale price in February 2018 was also up 10.1% versus one year ago.)

 

Average days on market for property listings remained somewhat flat and increased by one versus one year ago. Median days on market, however, dropped by 18.2% to 9 days in February 2018.  

 

Average price per square foot increased by 6.0% to $142/square foot in February 2018 versus the same period in 2017. Pending sales were down 4.2% in February versus the same month last year. February 2018 closed sales  were down 2.6%. 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 5.3% in February 2018 versus the prior year. 

 

The number of showings per listing and the number of showings until pending contract per listing also dropped. During February 2018, listed homes averaged 9.8 showings (down 6.7% versus February 2017) 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 0.4% 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  3.2% versus February 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 February 2017). 

 

Without doubt, Ballantyne's housing market in 2018 continues 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 - February 2018

 

 

 

 

 

 

 

 

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WONDERING WHAT YOUR BALLANTYNE AREA HOME IS WORTH?

 

 

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Previous Ballantyne Area Housing Market Updates:

 

Ballantyne Housing Market Update: January 2018

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 

 

   

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."

 

 

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SEARCH ALL CHARLOTTE METRO AREA HOMES HERE

 

 Nina Hollander, RE/MAX Broker, Realtor

 

 

 

 

 

 

Nina Hollander

Broker, Realtor, MBA, CRS, 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 - 2018 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
2,844,515
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Wow Nina,  You still got it and your buyers and sellers have the most knowledge person in your area in Real Estate.  Good job!

Mar 04, 2018 11:18 AM #1
Rainmaker
2,716,097
Nina Hollander
Coldwell Banker Residential Brokerage | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Will Hamm ~ hi Will... thank you... but what did you mean by "I still had it?" Did you hear something in the rumor mill that I'd lost it? 

Mar 04, 2018 11:37 AM #2
Rainmaker
4,628,511
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, NC area.

 

Mar 05, 2018 05:21 AM #3
Rainmaker
2,716,097
Nina Hollander
Coldwell Banker Residential Brokerage | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Gabe Sanders ~ thanks Gabe, for popping by. Wishing you a terrific week ahead!

Mar 05, 2018 05:23 AM #4
Rainmaker
4,957,681
Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

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

Mar 05, 2018 08:51 AM #5
Rainmaker
2,716,097
Nina Hollander
Coldwell Banker Residential Brokerage | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Roy Kelley ~ hi Roy... thanks for popping by. Trust your week has gotten off to a great start.

Mar 05, 2018 08:59 AM #6
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Rainmaker
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