Find out what happened in Charlotte’s Ballantyne (28277 zip code) area housing market in August 2018
August 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, closed sales diminishing due to limited inventory.
The average sale price of Ballantyne area homes increased by 10.6% to just under $377,000 as compared with the same period one year ago. (Median sale price in August also increased 20.8% versus one year ago.)
Average days on market for property listings in Ballantyne were 35 days. Median days on market stood at 12 days in August 2018.
Average price per square foot increased by 2.5% to $147/square foot in August 2018 versus the same period in 2017. Pending sales in Ballantyne were up 3.3% in August versus the same month last year. August 2018 closed sales in Ballantyne were down 21.1%. It’s not unreasonable to assume that both pending and closed sales would have been higher if there had been more inventory, which was down 9.2% versus August 2017.
New listings in Ballantyne increased 4.7% versus August 2017. The months supply of inventory remained low at 2.3 months.
The median percent of original list price that sellers received for their homes was 97.5%, showing little negotiating room in the 28277 zip code for Ballantyne area homes.
Ballantyne’s housing market in 2018 continues as the prior year ended… as a seller’s market in the 28277 zip code and very competitive, with many homes selling within days of being listed for sale.
The strong housing market we’ve seen in the Ballantyne area throughout 2016 and 2017 continues into the third quarter of 2018, as Ballantyne area homes continued to sell, sell faster, and sell for more money.
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This Charlotte, North Carolina real estate monthly update for Ballantyne is brought to you by Nina Hollander and Carolinas Realty Partners, RE/MAX Executive, your Ballantyne area specialists and neighbors and Charlotte metro area residential real estate experts.
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Previous Ballantyne Area Housing Market Updates:
Ballantyne Housing Market Update: July 2018
Ballantyne Housing Market Update: June 2018
Ballantyne Housing Market Update: May 2018
Ballantyne Housing Market Update: April 2018
Ballantyne Housing Market Update: March 2018
Ballantyne Housing Market Update: February 2018
Ballantyne Housing Market Update: January 2018