This Month In Real Estate: SW Charlotte/Steele Creek Update-Sept 2018

By
Real Estate Agent with Coldwell Banker Residential Brokerage

 

SOUTHWEST CHARLOTTE/STEELE CREEK

HOUSING MARKET UPDATE/VIDEO

SEPTEMBER 2018

 

September 2018 home sales in southwest Charlotte, North Carolina (28273 and 28278 zip codes, often referred to as Steele Creek) saw home sale prices continuing to increase, inventory and new listings remaining tight, putting a strain on pending sales during the month.

 

Steele Creek has been one of the fastest-growing parts of Charlotte, with major developments like Berewick and RiverGate. The Steele Creek area had 25,282 residents at the 2000 Census and more than 52,000 by 2010, according to the Steele Creek Residents Association. Today, Steele Creek is nearing a population of 70,000!

 

 

  

The average sale price of SW Charlotte homes increased in the 28273 zip code by 2.8% to just under $225,000 and in the 28278 zip code by 14.6% to just under $380,000 compared with the same time frame one year ago. Median sale price in both the southwest Charlotte zip codes was up and also up -- 3.8% in the 28273 zip code and 11.8% in the 28278 zip code.

 

Average days on market for property listings were 19 days in the 28273 zip code and 56 days in the 28278 zip code, down 17.4% in the 28273 zip code and up 14 days in the 28278 zip code versus September 2017. Median days on market were 12 days in the 28273 zip code and 26 days in the 28278 zip code in September 2018.

 

Average price per square foot increased by 11.8% to $114/square foot in September 2018 versus the same period in 2017 in the 28273 zip code. In the 28278 zip code average price per square foot increased 15.8% to $139/square foot versus one year ago. The significant increase in 28278 most likely stems from the new construction sales in that part of southwest Charlotte.

 

Pending sales were down 6.8% in 28273 zip code and 20.3% in 28278 zip code in September versus the same month last year. Year-over-year, closed sales were up 18.5% in 28273 zip code and down 38.3% in 28278 zip code. Lack of inventory greatly contributed to the lower pending and closed sales.

 

The median percent of original list price that sellers received for their homes was 98.8% in 28273 zip code and 97.7% in 28278 zip code, showing little negotiating room for homes in southwest Charlotte, North Carolina.

 

New listings were flat in the 28273 zip code, but were down 29.4% in the 28278 zip code versus September 2017. Southwest Charlotte's months supply of homes in the 28273 zip code stood at 1.6 months and at 3.8 months in 28278 zip code. The 28273 and 28278 zip codes in southwest Charlotte remain a seller's market in terms of supply of inventory, although the 28278 zip code is leaning towards a more balanced market. Nonetheless, as we enter the fall selling season, when it comes to affordable homes, it remains a very competitive market for home buyers in Southwest Charlotte, North Carolina.  

 

 

CHECK OUT THE HOTTEST NEIGHBORHOODS IN SOUTHWEST CHARLOTTE TO WATCH IN 2018

 

SEARCH ALL SOUTHWEST CHARLOTTE, NC AREA HOMES FOR SALE

 

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WONDERING WHAT YOUR SOUTHWEST CHARLOTTE, NC HOME IS WORTH?

 

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PREVIOUS SOUTHWEST CHARLOTTE/STEELE CREEK HOUSING MARKET UPDATES: 

 

Southwest Charlotte/Steele Creek Housing Market Update: August 2018

Southwest Charlotte/Steele Creek Housing Market Update: July 2018

Southwest Charlotte/Steele Creek Housing Market Update: June 2018

Southwest Charlotte/Steele Creek Housing Market Update: May 2018

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 provided by  Nina Hollander and Carolinas Realty Partners with Coldwell Banker Residential Brokerage, your Charlotte metro area residential real estate experts and southwest Charlotte neighborhood specialists. We've been opening doors for home buyers and sellers in the 28273 and 28278 zip codes for 20 years.

 

If you're considering selling or purchasing a home in Southwest Charlotte or anywhere in the Charlotte metro area, I'd love an opportunity to earn your business, exceed your expectations, and to show you how:

"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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Tags:
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southwest charlotte nc housing market update september 2018
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Rainmaker
3,096,327
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Nina. Lack of inventory is the only thing from making your market "on fire" into a complete "inferno"! Enjoy your day!

Oct 06, 2018 05:03 AM #1
Rainmaker
3,974,677
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Nina, that is a huge increase in sales value for Steele Creek and SW Charlotte.   We are no longer seeing double digit increases.

Oct 06, 2018 05:12 AM #2
Ambassador
3,001,105
Paul S. Henderson, REALTOR®, CRS
RE/MAX Northwest. - Tacoma, WA
Tacoma Washington Agent/Broker & Market Authority!

 So much information and so little time. Thank you for making this information available to all of us, Nina ...

Oct 06, 2018 05:36 AM #3
Rainmaker
2,895,299
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Paul S. Henderson, REALTOR®,CRS, did you ever say a mouthful, Paul! There really is so much information and so little time to impart it. It really is a "job" to figure out what to focus on.

Oct 06, 2018 10:45 PM #4
Rainmaker
2,895,299
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Joan Cox hi Joan, the 28273 zip code where Steele Creek is located has been named the "hottest" zip code in Charlotte for two years straight and it wouldn't surprise me to see it called that for a third year.

Oct 06, 2018 10:46 PM #5
Rainmaker
2,895,299
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Wayne Martin hi Wayne... the high end market is not on fire all that much here, but anything under $325,000 is still pretty much flying out the door... as for anything under $200,000... just forget about it these days.

Oct 06, 2018 10:47 PM #6
Rainmaker
3,119,870
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Nina sounds like my market the High End has slowed and the mid to low range is on fire, but that is always like that, Endre

Oct 06, 2018 11:07 PM #7
Rainmaker
2,895,299
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Endre Barath, Jr. hi Endre... our high end was moving along quite well for a while, but now it's stalled and we are seeing quite a few months of inventory... definitely a buyer's market for high end properties.

Oct 06, 2018 11:18 PM #8
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Rainmaker
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