March 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. No matter how you "slice it," it's obvious that real estate in this area of Charlotte is sizzling!
The average sale price of SW Charlotte homes increased in the 28273 zip code by 11.4% to just under $210,000 and in the 28278 zip code by 9.4% to just under $331,000 as compared with the same time frame one year ago.
Average days on market for property listings were 18 days in the 28273 zip code and 54 days in the 28278 zip code, down a 28% in the 28273 zip code versus March 2017. Median days on market were 5 days (down 44.4% year-over-year) in 28273 zip code and 18 days in the 28278 zip code in March 2018.
Average price per square foot increased by 9.2% to $107/square foot in March 2018 versus the same period in 2017 in 28273 zip code. In the 28278 zip code average price per square foot increased 7.0% to $122/square foot versus one year ago.
Pending sales were up 13.0% in 28273 zip code and 4.5% in 28278 zip code in March versus the same month last year. Year-over-year, closed sales were up 1.4% in 28273 zip code and 3.3% in 28278 zip code. Lack of inventory in 28273, where there is just 1.1 months of inventory is dampening sales.
The median percent of original list price that sellers received for their homes was 100% in 28273 zip code and 98.3% in 28278 zip code, showing virtually none to little negotiating room for homes in southwest Charlotte, North Carolina.
New listings increased by 14.9% in the 28273 zip code, but were down 3.3% in the 28278 zip code versus March 2017. SW Charlotte's months supply of homes decreased in both zip codes -- by 21.4% to 1.1 months in 28273 zip code and by 11.1% 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.
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: