This Month In Real Estate: SW Charlotte/Steele Creek Update: Dec. 2018

By
Real Estate Agent with Coldwell Banker Realty

 

SOUTHWEST CHARLOTTE/STEELE CREEK

HOUSING MARKET UPDATE/VIDEO

DECEMBER 2018

 

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.  

 

CHECK OUT THE HOTTEST NEIGHBORHOODS IN SOUTHWEST CHARLOTTE TO WATCH 

 

SEARCH ALL SOUTHWEST CHARLOTTE, NC AREA HOMES FOR SALE

 

 

WONDERING WHAT YOUR SOUTHWEST CHARLOTTE, NC HOME IS WORTH?

 

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:

"The Right Broker Makes All The Difference."


Great Homes In Charlotte

 

PREVIOUS SOUTHWEST CHARLOTTE/STEELE CREEK HOUSING MARKET UPDATES: 

Southwest Charlotte/Steele Creek Housing Market Update: November 2018

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/southwest-charlotte-steele-creek-housing-december-2018/ 

Posted by

 

 Nina Hollander, RE/MAX Broker, Realtor

 

 

 

Broker, Realtor, MBA, GRI, ABR, SRES, CDPE, SFR, SPS, CMRS
Carolinas Realty Partners with Coldwell Banker Realty
Direct: 704-779-0813
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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.

 

Comments (18)

Sheri Sperry - MCNE®
Coldwell Banker Realty - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

Bottom line Nina Hollander - Sellers should be listing while the market is strong in Charloote. Buyers should be buying before the prices go up any higher.  They ultimately need your help to get the best deal. 

Jan 14, 2019 01:18 PM
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Nina,

Your reports on Charlotte/Steele Creek are always chock full of great information for anyone wanting to buy or sell in Steele Creek.  Wishing you a superb week.  A

Jan 14, 2019 01:34 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Sheri Sperry - MCNE® hi Sheri... I think the time is not too far off when sellers might start regretting that they didn't list sooner.

Jan 14, 2019 01:41 PM
Beth Atalay
Cam Realty and Property Management - Clermont, FL
Cam Realty of Clermont FL

Hi Nina Hollander, Charlotte home sellers would be wise to follow your market updates and hire you when it's time to sell. Now would be a great time! 

Jan 14, 2019 01:44 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Beth Atalay hi Beth... do you think you can say that just a tad louder to Charlotte sellers that it's a great time to sell? 

Jan 14, 2019 01:53 PM
Beth Atalay

It's the truth Nina Hollander, we don't know what tomorrow holds, right now, buyers are out looking for their Charlotte NC home. Why take a chance by waiting? 

Jan 14, 2019 05:42 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Yes Nina keep yellin it because the wave is  on its way out and then once the Tide Leave...well you know, Endre

Jan 14, 2019 10:30 PM
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

You always provide good information about your housing market. Thank you for sharing 

Jan 15, 2019 03:03 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Endre Barath, Jr. hi Endre... people always think they can time markets perfectly... be they stock markets, real estate markets, etc. The reality is they can't... if in retrospect it was timed perfectly you really have to chalk it up to serendipity. (That happened to me once with a real estate purchase.)

Jan 15, 2019 03:42 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Gita Bantwal thanks, Gita, and good morning. Meantime wishing you a terrific Tuesday!

Jan 15, 2019 03:43 AM
Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Condo and Home Specialists

Nina, With the average home price increasing, sellers that are "thinking" of listing their home should be calling you now!

Jan 15, 2019 04:12 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400 good morning, Sheila and Larry... I keep pounding that drum that it's a great time to sell with still lots of buyer demand... still too many homeowners holding back.

Jan 15, 2019 05:12 AM
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Good morning Nina.  Thanks for keeping us updated about the Southwest Charlotte/Steele Creek real estate market.

Jan 15, 2019 05:21 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Gabe Sanders good morning to you, Gabe. Thanks for popping by... here's wishing you a terrific Tuesday!

Jan 15, 2019 05:27 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Ron and Alexandra Seigel thanks, Alexandra... as always I appreciate your taking time to stop by and leaving a nice comment.

Jan 15, 2019 05:28 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Nina, great market update for SW Charlotte and Steele Creek, and you are always on top of these numbers.

Jan 15, 2019 06:46 AM
Roy Kelley
Retired - Gaithersburg, MD

Families on the move will appreciate your local market reports.

Jan 15, 2019 07:53 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Roy Kelley hi Roy... the Steele Creek area has been named Charlotte's hottest neighborhood for two years straight and it wouldn't surprise me if it doesn't pretty much rank up there for a third year.

Jan 15, 2019 09:43 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Joan Cox hi Joan... thanks. I like to believe the a big part of the value that I bring to the table is knowing the market trends.

Jan 15, 2019 09:43 AM