Ballantyne, NC (28277 Zip Code) Housing Market Update: March 2018

By
Real Estate Agent with Coldwell Banker Residential Brokerage | Charlotte, NC
https://activerain.com/droplet/5bFr

Welcom to Ballantyne

 

March 2018 home sales in the Ballantyne area of Charlotte, North Carolina (28277 zip code) saw the same trends of January and February -- 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 4.8% to just under $368,000 as compared with the same period one year ago. (Median sale price in March 2018 was also up 8.5% versus one year ago.)

 

Average days on market for property listings decreased 3.1% to 31 days versus one year ago. Median days on market, however, dropped by 18.2% to 9 days in March 2018.  

 

Average price per square foot increased by 5.9% to $143/square foot in March 2018 versus the same period in 2017. Pending sales were down 4.2% in March versus the same month last year. March 2018 closed sales  were down 7.5%. 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 3.5% in March 2018 versus the prior year. 

 

The number of showings per listing and the number of showings until pending contract per listing also dropped. During March 2018, listed homes averaged 9.7 showings (down 8.7% versus March 2017) and 21 showings until pending contract (down 8.7% 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 3.7% versus March 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 March 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 Housing Market Update - March 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: February 2018

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 

 

    

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, 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
4,957,681
Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

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

Apr 05, 2018 06:06 AM #1
Rainmaker
2,716,097
Nina Hollander
Coldwell Banker Residential Brokerage | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Roy Kelley ~ good morning, Roy, and thank you. Hopefully you are not in the path of more snow this weekend?

Apr 05, 2018 06:25 AM #2
Rainmaker
1,492,586
Jeremy K. Frost
Keller Williams Realty - Dripping Springs, TX
Associate Broker, CNE, CRS, ePro, PSA

It's hard to beat great information from a local expert. Thank you for sharing!

Apr 05, 2018 08:05 AM #3
Rainmaker
2,227,776
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

One of the things I like most about the Ballantyne update is that I know the Indian Land update is right around the corner!

Apr 05, 2018 09:25 AM #4
Rainmaker
2,716,097
Nina Hollander
Coldwell Banker Residential Brokerage | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Jeremy K. Frost ~ hi Jeremy... great to "see" you. It's been a while and I hope all is well at your end.

Apr 05, 2018 12:42 PM #5
Rainmaker
2,716,097
Nina Hollander
Coldwell Banker Residential Brokerage | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Brian England ~ you got that right, Brian. Indian Land update with be coming around very soon!

Apr 05, 2018 12:43 PM #6
Rainmaker
1,006,712
Sheri Sperry - MCNE®
Coldwell Banker Residential Brokerage - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

Hi Nina Hollander - It appears that Ballantyne is in a strong seller's market.  Your clients need an expert (you) to navigate this market.

Apr 05, 2018 09:35 PM #7
Rainmaker
2,716,097
Nina Hollander
Coldwell Banker Residential Brokerage | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Sheri Sperry - MCNE® ~ good morning, Sheri.... Ballantyne has been primarily a seller's market for a good three years now if not even a bit more. This zip code in our area has always been "hot."

Apr 06, 2018 03:32 AM #8
Rainmaker
4,311,457
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 

Apr 06, 2018 04:06 AM #9
Rainmaker
2,716,097
Nina Hollander
Coldwell Banker Residential Brokerage | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Gita Bantwal ~ good morning, Gita... and thank you. Always nice to "see" stopping by.

Apr 06, 2018 05:01 AM #10
Rainmaker
3,826,660
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Nina, very nice market update for Ballantyne in Charlotte, and know you are the expert to call when buyers or sellers need more information.

Apr 06, 2018 05:11 AM #11
Rainmaker
2,716,097
Nina Hollander
Coldwell Banker Residential Brokerage | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Joan Cox ~ hi Joan, of course, I follow Ballantyne closely because I live here. Each month I go in hoping for some inventory relief and seem to be disappointed month after month.

Apr 06, 2018 05:21 AM #12
Ambassador
1,684,669
Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

Good golly, Nina. That is quite the impressive Sellers market. I'd give you a call today and try to figure out a plan to sell and move  - strike while the iron is red hot! 

Apr 06, 2018 07:35 AM #13
Rainmaker
4,957,681
Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

Good Friday morning, Nina. Have a great day and an outstanding weekend.

Apr 06, 2018 07:54 AM #14
Rainmaker
2,716,097
Nina Hollander
Coldwell Banker Residential Brokerage | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Debb Janes EcoBroker and Bernie Stea JD ~ hi Debb... what's holding people back from listing is the fear that they won't find anything on the other end of the sale, especially when homes are selling so quickly. It's a conundrum for sure.

Apr 06, 2018 09:58 AM #15
Rainmaker
2,716,097
Nina Hollander
Coldwell Banker Residential Brokerage | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Roy Kelley ~ Good Friday afternoon to you, Roy, and thank you. Wishing you and Dolores a lovely weekend, as well.

Apr 06, 2018 09:58 AM #16
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 the information and update about the Ballantyne, NC real estate market.

 

Apr 08, 2018 05:06 AM #17
Rainmaker
2,716,097
Nina Hollander
Coldwell Banker Residential Brokerage | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Gabe Sanders ~ Gabe, as always, thank you for stopping by and taking time to leave a comment.

Apr 08, 2018 08:37 AM #18
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