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

By
Real Estate Agent with Coldwell Banker Residential Brokerage | Charlotte, NC

 

Ballantyne July 2018 Housing Market Update/Video

 

July 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 tight, pending and closed sales diminishing due to the lack of new listings and inventory.

 

 

 

 

The average sale price of Ballantyne area homes increased by 1.8% to just over $368,000 as compared with the same period one year ago. (Median sale price in July also increased 5.9% versus one year ago.)

 

Average days on market for property listings in Ballantyne were 33 days. Median days on market stood at at 10 days in July 2018.  

 

Average price per square foot increased by 5.1% to $145/square foot in July 2018 versus the same period in 2017. Pending sales in Ballantyne were down 9.4% in July versus the same month last year. July 2018 closed sales  in Ballantyne were down 9.7%. It's not unreasonable to assume that both pending and closed sales would have been higher if there had been more inventory, which increased a scant 0.8 % in July 2018 versus the prior year.

 

New listings in Ballantyne decreased 8.2% versus July 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 July 2018, listed homes averaged 9.7 showings (down 5.8% versus July 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 98.2%, 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 continues into the third quarter of 2018, as Ballantyne area homes continued to sell, sell faster, and sell for more money. 

 

  

 SEARCH ALL BALLANTYNE AREA HOMES 

 

 

free home listing alerts from greathomesincharlotte.com

 

 

WONDERING WHAT YOUR BALLANTYNE AREA HOME IS WORTH?

 

 

Instant Home Value From Nina Hollander, RE/MAX Broker

 

Previous Ballantyne Area Housing Market Updates:

 

Ballantyne Housing Market Update: June 2018

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

 

 

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."

 

Originally published at: https://greathomesincharlotte.com/housing-market-reports-updates/ballantyne-28277-zip-code-housing-market-update-video-july-2018/  

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

 

 Connect with me also on these sites:  

 

facebook google plustwitterlinkedinpinterest

  

                                                                                                                                          

Oh by the way, I'm never too busy for any of your referrals!

 

Find Your Charlotte Home

 

How Much Is My Home Worth       Free Charlotte Relocation Package

 

 

 

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.

 

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Local News and Events
Location:
North Carolina Mecklenburg County Charlotte Ballantyne
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:
ballantyne
ballantyne area homes for sale
ballantyne area housing market update
ballantyne nc housing market update and video
ballantyne nc housing market update and video july 2018
ballantyne nc homes for sale
28277 zip code

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainmaker
2,999,776
Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Condo & Home Sale Specialists

Buyers and sellers like reviewing how their neighborhhods of choice are doing. The Ballantyne NC seems like a strong market, even though it can use more inventory...like so many others.

Aug 06, 2018 11:15 AM #1
Rainmaker
2,717,481
Nina Hollander
Coldwell Banker Residential Brokerage | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400 hi Sheila and Larry... Ballantyne area has been one of the hottest zip codes in the country for years. But the lack of inventory is no doubt hurting us.

Aug 06, 2018 11:22 AM #2
Rainmaker
4,312,413
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 

Aug 07, 2018 02:28 AM #3
Rainmaker
2,717,481
Nina Hollander
Coldwell Banker Residential Brokerage | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Gita Bantwal thanks, Gita, as always for stopping by. Wishing you a lovely Tuesday.

Aug 07, 2018 04:06 AM #4
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
2,717,481

Nina Hollander

Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor
What real estate questions can I answer for you today?
*
*
*
*
Spam prevention

Additional Information