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Ballantyne, NC (28277 Zip Code) Housing Market Update/Video: June 2018

By
Real Estate Agent with Coldwell Banker Realty 179530

 

Ballantyne June 2018 Housing Market Update/Video

 

June 2018 home sales in the Ballantyne area of Charlotte, North Carolina (28277 zip code) saw the same trends we've been seeing all year with home prices up, inventory tightening, pending and closed sales diminishing due to the lack of inventory.

 

 

 

The average sale price of Ballantyne area homes increased by 1.5% to just over $365,000 as compared with the same period one year ago. (Median sale price in June also increased 4.6% versus one year ago.)

 

Average days on market for property listings were essentially flat at 32 days versus one year ago. Median days on market were also flat at 10 days in June 2018.  

 

Average price per square foot increased by 5.1% to $145/square foot in June 2018 versus the same period in 2017. Pending sales were down 6.9% in June versus the same month last year. June 2018 closed sales  were down 9.5%. It's not unreasonable to assume that both pending and closed sales would have been higher if there had been an uptick in inventory, which was down 0.4 % in June 2018 versus the prior year.

 

New listings decreased 6.3% versus June 2017, contributing to the strain of a high demand market starved of available inventory. The Ballantyne area's months supply of homes was 1.9 months. 

 

The number of showings per listing and the number of showings until pending contract per listing also dropped. During June 2018, listed homes averaged 9.7 showings (down 7.6% versus June 2017) and 22 showings until pending contract (down 4.3% 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 98.3%, showing little negotiating room in the 28277 zip code for Ballantyne area homes.

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've seen in the Ballantyne area throughout 2016 and 2017 continued in the first half of 2018, as Ballantyne area homes continued to sell, sell faster, and sell for more money. 

 

  

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Previous Ballantyne Area Housing Market Updates:

 

Ballantyne Housing Market Update: May 2018 

Ballantyne Housing Market Update: April 2018

Ballantyne Housing Market Update: March 2018

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

 

 

This Charlotte, North Carolina real estate monthly update for Ballantyne is brought to you by Nina Hollander and Carolinas Realty Partners, RE/MAX Executive,  your Ballantyne area specialists and neighbors and Charlotte metro area residential real estate experts.

 

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

 

 Nina Hollander, RE/MAX Broker, Realtor

 

 

 

Broker, Realtor, MBA, GRI, ABR, SRES, CDPE, SFR, SPS, CMRS
Carolinas Realty Partners with Coldwell Banker Realty
Direct: 704-779-0813
Website: www.GreatHomesInCharlotte.com
Blog: News You Can Use From The Greater Charlotte Area
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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.

 

Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Joan Cox  hi Joan... I was working with a client who desperately wanted to be in Ballantyne area for no more than $310,000. That didn't happen... we are in contract for a new home in Waxhaw.

Jul 05, 2018 04:38 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Gabe Sanders good morning, Gabe. Thanks for popping by... wishing you a wonderful "rest of the week."

Jul 05, 2018 04:38 AM
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Good morning Nina Hollander,

Great presentation of the Ballantyne Real Estate Market! Low inventory persists which heats up the market..good old supply and demand working.

Jul 05, 2018 04:41 AM
Wayne Martin
Wayne M Martin - Oswego, IL
Real Estate Broker - Retired

Good morning Nina. Prices up, days on market short, inventory decreasing. Thinventory is grabbing hold. Enjoy your day 

Jul 05, 2018 05:34 AM
Roy Kelley
Retired - Gaithersburg, MD

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

Jul 05, 2018 06:37 AM
Elizabeth Weintraub Sacramento Broker
Elizabeth Anne Weintraub, Broker - Sacramento, CA
Put 40 years of experience to work for you

Hello Nina: The thing that would disturb me in a market like this if I wasn't already an established listing agent is the market share. Dwindling sales also means less of the pie to go around for everybody.

Jul 05, 2018 08:20 AM
Brian England
Ambrose Realty Management LLC - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

I know that this is a great place to call home, especially since one of my favorite people lives there!

Jul 05, 2018 09:29 AM
Jeremy K. Frost
Keller Williams Realty - Dripping Springs, TX
Associate Broker, ABR,CNE,CRS,ePro,PSA,RENE,SRS

Always appreciate insight from a local expert. Thank you for sharing!

Jul 05, 2018 09:44 AM
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

Another in-depth look the quantity and quality of the Ballantyne area homes market. Thank you for this update Nina.

Jul 05, 2018 10:24 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Paul S. Henderson, REALTOR®,CRS, thanks, Paul... first week of a new month means it's market reports time for me!

Jul 05, 2018 10:53 AM
Paul S. Henderson, REALTOR®, CRS

You have made that quite clear to me in the past Nina. You do an excellent job.

Jul 05, 2018 11:00 AM
Nina Hollander, Broker

Paul S. Henderson, REALTOR®,CRS,  thank you, Paul!

Jul 05, 2018 11:37 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Jeremy K. Frost hi Jeremy... thanks for stopping by and taking time to leave a comment. I always appreciate it.

Jul 05, 2018 10:54 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Brian England hi Brian... aren't you just too nice to say so! Ballantyne is a great place to live, but we have a myriad of them in the Charlotte area.

Jul 05, 2018 10:55 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Elizabeth Weintraub Sacramento Real Estate Agent, Top 1% of Lyon Agents oh no kidding, Elizabeth! Lots of new agents coming into the market because they hear it's hot... but they haven't figured out just this problem of lack of inventory causing slow sales and lack of affordable inventory pricing out buyers.

Jul 05, 2018 10:56 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Wayne Martin hi Wayne... thinventory grabbed hold of the Ballantyne area in Charlotte a good three years ago and now we are seeing serious "bare patches."

Jul 05, 2018 10:57 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Roy Kelley hi Roy... as always thanks for the pop-by! Trust you and Dolores enjoyed your Independence Day holiday.

Jul 05, 2018 10:58 AM
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

NINA,

This report is another one of your excellent reports on Ballantyne.  It is nice that you track the showings per home also.  A

Jul 05, 2018 10:59 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Dorie Dillard hi Dorie... thank you. The lack of inventory in portions of our market  is at critical stages now and I find it somewhat worrisome.

Jul 05, 2018 10:59 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Ron and Alexandra Seigel hi Alexandra... thank you. The showings per home can tell a story and I don't spend a lot of time tracking this statistic... it's available through my MLS... too many agents don't bother to look at numbers and have no clue what is available to them.

Jul 05, 2018 11:01 AM
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Nina,

When we work with someone on their brand and brand strategy, we look at all the numbers.  It is amazing what insights can be gained and what myths can be blown away.  A

Jul 05, 2018 11:26 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Ron and Alexandra Seigel hi Alexandra... after 25 years in this profession, I have found that many agents are not very facile with numbers or statistics. They don't have that background and so don't know how to read and interpret numbers and tell a story with them.

Jul 05, 2018 11:38 AM