Southwest Charlotte/Steele Creek Housing Market Update/Video: May 2018

By
Real Estate Agent with Coldwell Banker Residential Brokerage

 

SOUTHWEST CHARLOTTE/STEELE CREEK

HOUSING MARKET UPDATE/VIDEO

MAY 2018

 

May 2018 home sales in southwest Charlotte, North Carolina (28273 and 28278 zip codes, often referred to simply as Steele Creek) saw home sale prices substantially increasing, pending and closed sales also increasing, and sellers getting 100% of asking price in the 28273 zip code. No matter how you "slice it," it's obvious that real estate in this area of Charlotte is sizzling hot!

 

 

 

The average sale price of SW Charlotte homes increased in the 28273 zip code by 10.7% to just over $213,000 and in the 28278 zip code by 9.0% to just over $334,000 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 57 days in the 28278 zip code, down a 28% in the 28273 zip code versus May 2017. Median days on market  were 5 days (down 44.4% year-over-year) in 28273 zip code and 20 days in the 28278 zip code in May 2018.

 

Average price per square foot increased by 9.0% to $109/square foot in May 2018 versus the same period in 2017 in the 28273 zip code. In the 28278 zip code average price per square foot increased 5.2% to $122/square foot versus one year ago.

 

Pending sales were up 10.1% in 28273 zip code and 2.9% in 28278 zip code in May versus the same month last year. Year-over-year, closed sales were up 3.6% in 28273 zip code and 5.6% in 28278 zip code. 

 

The median percent of original list price that sellers received for their homes was 100% in 28273 zip code and 98.1% in 28278 zip code, showing virtually none to little negotiating room for homes in southwest Charlotte, North Carolina.

 

New listings increased by 16.0% in the 28273 zip code, but were down 7.2% in the 28278 zip code versus May 2017. SW Charlotte's months supply of homes decreased in both zip codes -- by 15.1% to 1.1 months in 28273 zip code and by 8.6% 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.  

 

SEARCH ALL SOUTHWEST CHARLOTTE, NC AREA HOMES FOR SALE

 

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PREVIOUS SOUTHWEST CHARLOTTE/STEELE CREEK HOUSING MARKET UPDATES: 

 

Southwest Charlotte/Steele Creek Housing Market Update: April 2018

Southwest Charlotte/Steele Creek Housing Market Update: March 2018

Southwest Charlotte/Steele Creek Housing Market Update: February 2018

 

 

This 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:

"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, 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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Topic:
Real Estate Market Trends
Location:
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Groups:
Charlotte NC Real Estate
Market Reports
Buyer Information - What Buyers Need to Know in Today's Market
2017 Market Trend Reports
City and State Community & Marketing Reports
Tags:
steele creek homes
homes for sale in 28273 and 28278 zip codes
southwest charlotte nc housing market update
southwest charlotte nc housing market update may 2018
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Rainmaker
4,025,277
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Nina, nice overview of Southwest Charlotte, and amazing to see over 10% home value increases.   Good for Sellers! 

Jun 09, 2018 06:25 AM #1
Rainmaker
2,981,701
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Joan Cox ~ thanks, Joan. Another one of those areas in Charlotte that were perfect for entry level buyers that are quickly pricing them out.

Jun 09, 2018 06:28 AM #2
Rainmaker
2,189,295
Elizabeth Weintraub Sacramento Realtor Top 1%
RE/MAX Gold - Sacramento, CA
Put 40 years of experience to work for you

Hi Nina: Very much the same situation in Sacramento as in Charlotte. Some months we see an average price ratio exceeding 100%.

Jun 09, 2018 09:45 AM #3
Rainmaker
1,963,777
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Southlake, TX
Selling Homes Changing Lives

Nina Hollander - the way you put together a marketing report is very impressive. 

Happy Saturday!

Jun 09, 2018 11:36 AM #4
Ambassador
1,808,694
Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

Hi Nina, I'm listening to the market report music and enjoying the interlude. :) 

Jun 09, 2018 11:38 AM #5
Rainmaker
4,432,083
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 

Jun 09, 2018 11:42 AM #6
Rainmaker
2,981,701
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Elizabeth Weintraub Sacramento Real Estate Agent, Top 1% of Lyon Agents  hi Elizabeth, we see some properties also sell over ask and those basically offset the ones that need to negotiate a bit because they came on too high in the first place.

Jun 09, 2018 12:18 PM #7
Rainmaker
2,981,701
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Patricia Feager thanks, Patricia... I'm delighted you like how I do these reports. Happy Saturday to you, as well (and Sunday!).

Jun 09, 2018 12:20 PM #8
Rainmaker
2,981,701
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Debb Janes EcoBroker and Bernie Stea JD hi Debb... I'm one of those people who prefers silence but I understand that half the world likes the music. So I figure I add music and those like me can silence it!

Jun 09, 2018 12:22 PM #9
Rainmaker
2,981,701
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Gita Bantwal ~ thanks, Gita. Appreciate your popping by... trust you are having a very nice weekend.

Jun 09, 2018 12:23 PM #10
Rainmaker
4,321,611
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Nina,

Happy to see that listings increased even though they are not at the 2017 mark.  Every little bit is helpful. A

Jun 09, 2018 12:40 PM #11
Rainmaker
2,981,701
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Ron and Alexandra Seigel hi Alexandra... every bit is helpful and as you can see in the 28273 zip code sales are up more than in 28278 more than likely because listings have increased.

Jun 09, 2018 12:45 PM #12
Ambassador
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George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Nina all the number continue to go in a positive direction, and hope they continue to do that.

Jun 09, 2018 01:29 PM #13
Rainmaker
2,981,701
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

George Souto ~ hi George... so long as we don't turn this lack of inventory around it won't be long before sales volume takes a turn for the worse. Can't sell what you don't have.

Jun 09, 2018 01:54 PM #14
Rainmaker
2,454,355
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

Your market updates always cover all the bases, you are definitely my idol when it comes to market updates!

Jun 09, 2018 02:10 PM #15
Rainmaker
2,981,701
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Brian England ~ geez... thanks, Brian... but what I do is not difficult... just takes a bit of time.

Jun 09, 2018 03:29 PM #16
Ambassador
3,046,170
Paul S. Henderson, REALTOR®, CRS
RE/MAX Northwest. - Tacoma, WA
Tacoma Washington Agent/Broker & Market Authority!

I always enjoy your Market updates because you put so much heart and soul into each report Nina.

Jun 09, 2018 09:47 PM #17
Rainmaker
2,981,701
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Paul S. Henderson, REALTOR®,CRS, ~ you have to be a bit of a numbers geek like myself, Paul, to do that!

Jun 10, 2018 04:16 AM #18
Rainmaker
5,270,817
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

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

 

Jun 10, 2018 07:11 AM #19
Rainmaker
2,981,701
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Roy Kelley ~ hi Roy... thanks for the compliment! I've found that people are always interested in knowing how their communities are doing real estate-wise.

Jun 10, 2018 07:50 AM #20
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