Southwest Charlotte/Steele Creek Housing Update: February 2019

Southwest Charlotte/Steele Creek housing update for February 2019. Charlotte, North Carolina’s Southwest/Steele Creek area (28273 and 28278 zip codes) remain fundamentally seller markets with home prices and closed sales increasing and inventory decreasing. The Steele Creek area (28273) saw some significant decreases in pending sales in February due to a 44.9% increase year-over-year in home sale prices.

Video Update For The SW Charlotte/Steele Creek Housing Market: February 2019

Southwest Charlotte Remained A Seller’s Market in February 2019

  • Average sale price of SW Charlotte homes increased in the 28273 zip code 44.9% to just over $326,151 in February 2019. In the 28278 zip code sale prices increased by 13.8% to just under $374,000 compared with the same time frame one year ago.
  • Median sale price increased in the 28273 zip code by 12.6% to $253,315 and decreased 3.2% to $302,131 in the 28278 zip code.
  • Average days on market for property listings in February 2019 were 61 days (+40 days) in the 28273 zip code and 60 days (down 23 days) in the 28278 zip code compared with February 2018. The big increase in home sale prices in the 28273 zip code no doubt contributed to the big increase in days on market in February, as the average price of a home increased by almost $100,000 from the prior month.
  • Median days on market were 22 days (+13 days) in the 28273 zip code and 34 days (up 19 days) in the 28278 zip code in February 2019.
  • Average price per square foot increased by 13.9% to $123/square foot (an $15 per square foot increase) in February 2019 versus the same period in 2018 in the 28273 zip code. In the 28278 zip code average price per square foot increased 5.6% to $133/square foot versus one year ago (a $7 per square foot increase year-over-year).
  • Pending sales were down 17.8% in the 28273 zip code and up 16.9% in the 28278 zip code in February 2019 versus the same month last year.
  • Year-over-year, closed sales were up 10% in the 28273 zip code and up 14.3% in the 28278 zip code.
  • The median percent of original list price that sellers received for their homes was 98.8% in the 28273 zip code and 98.4% in the 28278 zip code, showing relatively little negotiating room for homes in southwest Charlotte, North Carolina in February 2019.
  • New listings decreased 17,7% in the 28273 zip code and decreased 8.3% in the 28278 zip code versus February 2018.
  • Inventory was down 6.8% in the 28273 zip code compared with one year ago. In the 28278 zip code, inventory increased slightly by 1.2% year-over-year in February 2019.
  • Southwest Charlotte’s months supply of homes in the 28273 zip code stood at 1 month and at 3.2 months in the 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.  

Southwest Charlotte Hot Neighborhoods To Watch

Wondering what the hot Southwest/Steele Creek neighborhoods in Charlotte are? Click on the picture below to discover the 13 hottest neighborhoods to be watching in the 28273 and 28278 zip codes.

Hot Southwest Charlotte Neighborhoods


Find Your Southwest Charlotte/Steele Creek Dream Home

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Find Out What Your Southwest Charlotte/Steele Creek Home Is Worth

Wondering what your Southwest Charlotte/Steele Creek home is worth in today’s market? Find out by clicking on the picture below.  

If you’re thinking about selling your Southwest Charlotte area home, let’s get together and discuss the supply conditions in the 28273 and 28278 zip code neighborhoods and how we can assist you in gaining access to buyers who area ready, willing, and able to buy now.



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Previous Housing Market Updates For Southwest Charlotte/Steele Creek

Buying Or Selling A Home In Southwest Charlotte/Steele Creek…

… The Right Broker Makes All The Difference!


This Charlotte, North Carolina real estate monthly update for Southwest Charlotte/Steele Creek is brought to you by Nina Hollander and Carolinas Realty Partners with Coldwell Banker Residential Brokerage, your Southwest Charlotte area specialists and Charlotte metro area residential real estate experts. We’ve been opening doors for home buyers and sellers in Southwest Charlotte/Steele Creek for 20+ years.

If you’re considering selling or purchasing a home in the 28278/28273 zip codes, I’d love an opportunity to earn your business, exceed your expectations, and to show you how:

 “The Right Broker Makes All The Difference.”

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