February 2018 home sales in southwest Charlotte, North Carolina (28273 and 28278 zip codes and often referred to simply as Steele Creek) saw home sale prices substantially increasing, pending and closed sales also increasing and inventory significantly decreasing.
The average sale price of SW Charlotte homes increased in the 28273 zip code by 12.2% to just over $208,000 and in the 28278 zip code by 6.7% to just over $326,000 as compared with the same time frame one year ago.
Average days on market for property listings were 19 days in the 28273 zip code and 52 days in the 28278 zip code, down 24% and 8.8% respectively versus February 2017. Median days on market were 5 days in 28273 zip code and 17 days in the 28278 zip code in February 2018.
Average price per square foot increased by 8.2% to $106/square foot in February 2018 versus the same period in 2017 in 28273 zip code. In the 28278 zip code average price per square foot increased 6.1% to $121/square foot versus one year ago.
Pending sales were up 9.2% in 28273 zip code and 4.3% in 28278 zip code in February versus the same month last year. Year-over-ear, closed sales were up 2.4% in 28273 zip code and 9.6% in 28278 zip code.
The median percent of original list price that sellers received for their homes was 100% in 28273 zip code and 98.4% in 28278 zip code, showing virtually none to little negotiating room for homes in southwest Charlotte, North Carolina.
New listings increased by 13.1% in the 28273 zip code, but were down 2.9% in the 28278 zip code versus February 2017. SW Charlotte's months supply of homes decreased in both zip codes -- by 21.4% to 1.1 month in 28273 zip code and by 13.5% to 3.2 months in 28278 zip code. The 28273 and 28278 zip codes in southwest Charlotte very much remain a seller's market.
It continues to be a true seller's market in the 28273 and 28278 zip codes and a very competitive environment for home buyers in Southwest Charlotte, North Carolina.
Southwest Charlotte Housing Market Update - February 2018
This Charlotte, North Carolina real estate monthly update for Southwest Charlotte, NC is brought to you courtesy of Nina Hollander and Carolinas Realty Partners, RE/MAX Executive, your Charlotte metro area residential real estate experts and southwest Charlotte specialists.
If you are considering selling or purchasing a home in Southwest Charlotte or anywhere in the Charlotte metro area, I would love an opportunity to earn your business, exceed your expectations, and to prove to you that: