Southwest Charlotte/Steele Creek housing update for May 2019. Charlotte, North Carolina’s Southwest/Steele Creek areas (28273 and 28278 zip codes) remain fundamentally seller markets with tight inventory and homes selling at higher prices. The Steele Creek area (28273) had less than one month of inventory in May. Both areas saw a significant decrease in new listings. Tight inventory contributed to lower closed sales. Minimal room for buyers to negotiate with 28273 zip code sellers receiving 99.5% of list price and 28278 zip code sellers receiving 98.5% of list price.
May 2019 Charlotte region housing update + video. Charlotte region remained a seller’s market in May 2019 with inventory remaining extremely tight and lower than one year ago, resulting in higher home list and sale prices due to continued high buyer demand. Closed sales were up slightly, but pending sales were up 17.3% year-over-year. The housing affordability index continued to decrease, as well. Months supply of homes remained very low at 2.3 months and even lower for homes priced under $200,000. Year-to-date trends are all also showing increased prices, higher sales, and tight inventory.
How did the Fort Mill and Tega Cay housing markets do in May 2019? Both the Fort Mill and Tega Cay, SC housing markets remained seller markets in May 2019, characterized by decreasing inventory and months supply of housing compared with May 2018. Homes in both Fort Mill and Tega Cay sold more quickly both in May 2019 as compared with May 2018 and compared with the prior month of April. Pending sales were up considerably in both Fort Mill (+25.1%) and Tega Cay (+44.1%) in May. While closed sales were down somewhat in Fort Mill, in Tega Cay they increase 21.9%.
Indian Land, SC housing market (29707 zip code) update for May 2019. The Indian Land housing market remains a seller’s market with just 3.3 months supply of inventory overall, but with only 2.4 months supply of resale homes. While new listings increased 10.1%, new listings of resale homes fell by 9.7%. Moreover, resale home inventory dropped 30.3% in May. Both the average and median sale price of Indian Land homes increased in May 2019, with new construction homes selling at about $20,000 more on average than resale homes. With home sellers getting 98.1% of selling price, not much room for buyers to negotiate. Both closed sales and pending sales increased in May compared with the same month one year ago.
Waxhaw housing market update and video for May 2019. The Waxhaw area of the Charlotte, North Carolina metro area (the 28173 zip code–encompassing the three towns of Waxhaw, Marvin and Weddington) continued to see tight inventory (dropping 24.7% year-over-year) and a continued decrease (down 10.6%) in new listings year-over-year. With continued tight inventory, fewer new listings, lower days on market, Waxhaw area remains a seller’s market. Both closed and pending sales increased in May 2019 compared with May 2018.
Indian Trail Housing Market Update/Video May 2019. Indian Trail, NC (28079 zip code) area includes the towns of Stallings, Hemby Bridge, and Lake Park in Union County. The Indian Trail area saw an increase in both average and median home prices year-over-year. Days on market were down sharply with homes selling in under three weeks on average. Prices continue to increase because the months supply of homes for sale remains low at just 2.2 months. With median selling price of 99.3% of list price, virtually no room for buyers to negotiate.
Matthews housing report/video for May 2019. Matthews remained a seller’s market in May 2019 with the months supply of inventory at 2.2 months. Inventory was up slightly, but new listings were down in May. Average sale prices of homes were flat compared with one year ago, but median prices were up 6.2%. Matthews saw a significant drop in days on market in May… homes are selling in 20 days on average and median days on market are less than one week at 6. With homes selling at 99% of asking price, buyers have virtually no room to negotiate.
Ballantyne Housing Market Update/Video: May 2019. Average Ballantyne home sale prices increased slightly in May. Despite an increase in average and median days on market, homes continue to sell in under two months, on average. Pending sales were up 11.2% in May. The months supply of homes at 2 months and a 16.8% drop in housing inventory keeps the Ballantyne/28277 zip code housing market a seller’s market.
Southwest Charlotte/Steele Creek housing update for April 2019. Charlotte, North Carolina’s Southwest/Steele Creek areas (28273 and 28278 zip codes) remain fundamentally seller markets with tight inventory and homes selling at higher prices. The Steele Creek area (28273) had just 1.4 months of inventory in April. Fortunately, both areas had an increase in new listings in April. But little room for buyers to negotiate with 28273 zip code sellers receiving 100% of their ask price and 28278 zip code sellers receiving 98.5%.
How did the Fort Mill and Tega Cay housing markets do in April 2019? Both the Fort Mill and Tega Cay, SC housing markets remained seller markets in April 2019, characterized by decreasing inventory and months supply of housing compared with April 2018. Average home prices and pending sales increased year-over-year in both Fort Mill and in Tega Cay. While new listings were up in April in Fort Mill, they were down in Tega Cay.