Ballantyne (28277 Zip Code) November 2018 Housing Market Update/Video
Ballantyne (28277 zip code) housing market update and video for November 2018. November home sales in the Ballantyne area of Charlotte, North Carolina saw the same trends we’ve been seeing all year with home prices up. Inventory remained tight and new listings decreased during the month. Closed and pending sales up, but not significantly, due to limited affordable inventory and rising home prices and interest rates.
- The average sale price of Ballantyne area homes increased by 10.9% to just over $385,000 as compared with the same period one year ago. Average sale price in November was also $10,000 higher than in October 2018.
- Median sale price in November also increased 3% versus one year ago to $350,000.
- Average days on market for property listings in Ballantyne were 42 days (up 11 days compared with one year ago).
- Median days on market stood at 22 days in November 2018 up 6 days compared with one year ago. 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 $145/square foot ($4 per square foot) in November 2018 versus the same period in 2017.
- Pending sales in Ballantyne were up 5.2% in November versus the same month last year.
- Closed sales in Ballantyne were down 17.3% compared with the same month one year ago.
- New listings in Ballantyne increased 4.3% versus November 2017 (equivalent to just four more homes on market.)
- Months supply of inventory remained low at 2.3 months keeping Ballantyne a seller’s market. The months supply increased from 1.6 months one year ago… the highest level we’ve seen in three years.
- 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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