Ballantyne (28277 Zip Code) October 2018 Housing Market Update/Video
October 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 but increasing, closed sales diminishing due to limited inventory coupled with price and interest rate increases.
- The average sale price of Ballantyne area homes increased by 5.7% to just over $375,000 as compared with the same period one year ago. (Median sale price in October also increased 4.5% versus one year ago.)
- Average days on market for property listings in Ballantyne were 37 days (up 5 days compared with one year ago). Median days on market stood at 22 days in October 2018. No doubt that with increasing home prices and interest rates houses are taking longer to sell than just a few months ago.
- Average price per square foot increased by 2.8% to $146/square foot in October 2018 versus the same period in 2017.
- Pending sales in Ballantyne were down 17.7% in October versus the same month last year.
- Closed sales in Ballantyne were down 21% compared with the same month one year ago.
- New listings in Ballantyne increased 27.8% versus October 2017.
Months supply of inventory remained low at 2.5 months keeping Ballantyne a seller's market.
- The median percent of original list price that sellers received for their homes was 97.5%, showing relatively little negotiating room in the 28277 zip code for Ballantyne area homes.
This Charlotte, North Carolina real estate monthly update for Ballantyne is brought to you by Nina Hollander and Carolinas Realty Partners with Coldwell Banker Residential Brokerage, your Ballantyne area specialists and neighbors and Charlotte metro area residential real estate experts.
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