SOUTHWEST CHARLOTTE/STEELE CREEK
HOUSING MARKET UPDATE/VIDEO
NOVEMBER 2018
Charlotte, North Carolina’s southwest/Steele Creek area (28273 and 28278 zip codes) continued trends we’ve seen all year. Home prices increased in November. Inventory remained low, especially in affordable homes, and particularly in the 28273 zip code, which had just over one month’s supply of homes for sale.
- The average sale price of SW Charlotte homes increased in the 28273 zip code by 10.9% to just over $227,000. In the 28278 zip code sale prices increased by 8.9% to just over $388,000 compared with the same time frame one year ago.
- Median sale price in both the southwest Charlotte zip codes was up by double digits. In the 28273 zip code up by 13% to $226,000 and up by 16.4% to $340,000 in the 28278 zip code.
- Average days on market for property listings were 27 days in the 28273 zip code and 32 days in the 28278 zip code.
- Median days on market were 14 days in the 28273 zip code and 62 days in the 28278 zip code in November 2018. There is new construction in the 28278 zip code which increases days on market in this zip code.
- Average price per square foot increased by 13.8% to $124/square foot in November 2018 versus the same period in 2017 in the 28273 zip code. In the 28278 zip code average price per square foot increased 6.3% to $134/square foot versus one year ago.
- Pending sales were up 38.3% in 28273 zip code and down 18.9% in 28278 zip code in November versus the same month last year.
- Year-over-year, closed sales were up 20.4% in 28273 zip code and down 10.8% in 28278 zip code. The closed sales increase in the 2827 zip code reversed the negative sales we saw in October 2018.
- The median percent of original list price that sellers received for their homes was 98.4% in 28273 zip code and 97% in 28278 zip code, showing relatively little negotiating room for homes in southwest Charlotte, North Carolina.
- New listings decreased 26.6% in the 28273 zip code and 3.6% in the 28278 zip code versus November 2017. It’s worth pointing out that the decrease in the 28278 zip code was equivalent to a drop of three homes.
- Southwest Charlotte’s months supply of homes in the 28273 zip code stood at 1.2 months and at 3.7 months in 28278 zip code. The 28273 and 28278 zip codes in southwest Charlotte very much remain a seller’s market, especially in Steele Creek in the 28273 zip code.
It remains a seller's market in the 28273 and 28278 zip codes and a competitive environment for home buyers in Southwest Charlotte, North Carolina.
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This real estate monthly update for Southwest Charlotte/Steele Creek, NC is provided by Nina Hollander and Carolinas Realty Partners, Coldwell Banker Residential Brokerage, your Charlotte metro area residential real estate experts and southwest Charlotte/Steele Creek neighborhood specialists.
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:
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PREVIOUS SOUTHWEST CHARLOTTE/STEELE CREEK HOUSING MARKET UPDATES:
Southwest Charlotte/Steele Creek Housing Market Update: October 2018
Southwest Charlotte/Steele Creek Housing Market Update: September 2018
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
Originally published at: https://greathomesincharlotte.com/housing-market-reports-updates/sw-charlotte-steel-creek-housing-update-november-2018/
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