SOUTHWEST CHARLOTTE/STEELE CREEK
HOUSING MARKET UPDATE/VIDEO
Southwest Charlotte/Steele Creek housing update for December 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 December with median sale prices increasing by double digits. Inventory remained low, especially in affordable homes, and particularly in the 28273 zip code, which had just one month’s supply of homes for sale.
- Average sale price of southwest Charlotte homes increased in the 28273 zip code by 4.6% to just under $225,000. In the 28278 zip code sale prices increased by 10% to just under $367,000 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 19.6% to $236,500 and up by 11.7% to $348,750 in the 28278 zip code.
- Average days on market for property listings in December 2018 were 40 days in the 28273 zip code and 84 days in the 28278 zip code.
- Median days on market were 23 days in the 28273 zip code and 47 days in the 28278 zip code in December 2018.
- Average price per square foot increased by 8.8% to $123/square foot (a $10 per square foot increase) in December 2018 versus the same period in 2017 in the 28273 zip code. In the 28278 zip code average price per square foot increased 4.1% to $126/square foot versus one year ago ($5 per square foot increase year-over-year).
- Pending sales were up 15.6% in 28273 zip code and down 3.2% in 28278 zip code in December 2018 versus the same month last year.
- Year-over-year, closed sales were up 21.2% in 28273 zip code and down 38.8% in 28278 zip code.
- The median percent of original list price that sellers received for their homes was 98.1% in 28273 zip code and 96.4% in 28278 zip code, showing relatively little negotiating room for homes in southwest Charlotte, North Carolina.
- New listings decreased 6.4% in the 28273 zip code and increased 22.9% in the 28278 zip code versus December 2017.
- Inventory was up 39.4% in the 28273 zip code compared with one year ago, which no doubt helped increase pending and closed sales in December 2018. In the 28278 zip code, inventory was down 1% in December 2018 year-over-year.
- Southwest Charlotte’s months supply of homes in the 28273 zip code stood at 1 months and at 3.4 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.
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. We've been opening doors for Charlotte home buyers and sellers 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, to exceed your expectations, and to show you how:
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