Ballantyne (28277 Zip Code) September 2018 Housing Market Update/Video
September 2018 home sales in the Ballantyne area of Charlotte, North Carolina (28277 zip code) saw trends we've been seeing all year with home inventory tight and pending and closed sales diminishing due to limited inventory.
The average sale price of Ballantyne area homes increased slightly by 0.4% to just under $360,000 as compared with the same period one year ago. (Median sale price in September decreased 6.4% versus one year ago.)
Average days on market for property listings in September were 41 days, increasing 11 days. Median days on market were 24 days in September 2018, increasing 10 days.
Average price per square foot increased by 6.3% to $151/square foot in September 2018 versus the same period in 2017. Pending sales in Ballantyne were down 13.1% in September versus the same month last year. September 2018 closed sales in Ballantyne were down 4.4%. 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 4.2% versus September 2017.
New listings in Ballantyne decreased 20.8% versus September 2017. The months supply of inventory remained low at 2.3 months.
The median percent of original list price that sellers received for their homes was 97.5%, showing little negotiating room in the 28277 zip code for Ballantyne area homes.
As we enter the fall selling season, statiscally, Ballanyne remains a seller's market and continues to suffer from lack of affordable inventory.
Previous Ballantyne Area Housing Market Updates:
This Charlotte, North Carolina real estate monthly update for Ballantyne is brought to you by Nina Hollander and Carolinas Realty Partners, RE/MAX Executive with Coldwell Banker Residential Brokerage your Charlotte metro area residential real estate experts and Ballantyne area neighbors and specialists. We've been opening doors for Ballantyne area home buyers and sellers for 20 years.
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