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.
Video Update For The SW Charlotte/Steele Creek Housing Market: May 2019
Southwest Charlotte A Seller’s Market in May 2019
- Average sale price of SW Charlotte homes increased 6.8% in the 28273 zip code to $243,178 in May 2019. In the 28278 zip code sale prices increased 3.1% to $343,031 compared with the same time frame one year ago.
- Median sale price increased in the 28273 zip code 6.1% to $242,000 and increased 4.3% to $286,000 in the 28278 zip code in May 2019 versus May 2018.
- Average days on market for property listings in April 2019 were 16 days (+2 days compared with May 2018) in the 28273 zip code. However, the average days on market were down 2 days from April 2019. In the 28278 zip code average days on market were 54 (down 5 days compared with May 2019).
- Median days on market were 5 days in the 28273 zip code in May 2019, flat days versus May 2018 and down 2 days from April 2019. Median days on market in the 28278 zip code were 19 (up 7 days compared with May 2018. Nonetheless, it’s clear that homes are selling very quickly.
- Average price per square foot increased to $125/square foot (an $8 per square foot increase) in May 2019 versus the same period in 2018 in the 28273 zip code. In the 28278 zip code average price per square foot increased to $134/square foot versus one year ago (a $6 per square foot increase year-over-year).
- Pending sales were up 1.3% in the 28273 zip code and up 15.3% in the 28278 zip code in May 2019 versus the same month last year.
- Year-over-year, closed sales were down 26.4% in the 28273 zip code and down 22.3% in the 28278 zip code in May 2019 compared with the same month one year ago. Tight inventory continues to impact sales.
- The median percent of original list price that sellers received for their homes was 99.5% in the 28273 zip code and 98.5% in the 28278 zip code, showing minimal negotiating room for homes in southwest Charlotte, North Carolina in May 2019.
- New listings in April 2019 decreased 23.7% in the 28273 zip code and increased 4.8% in the 28278 zip code versus May 2018.
- Inventory was down 25.9% in the 28273 zip code compared with one year ago. In the 28278 zip code, inventory increased 1% year-over-year in May 2019.
- Southwest Charlotte’s months supply of homes in the 28273 zip code was 0.9 months and 3.6 months in the 28278 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
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.
Find Your Southwest Charlotte/Steele Creek Dream Home
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What’s Your Southwest Charlotte/Steele Creek Home 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…
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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.
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Search Southwest Charlotte/Steele Creek Homes For Sale
- Video Update For The SW Charlotte/Steele Creek Housing Market: May 2019
- Southwest Charlotte A Seller's Market in May 2019
- Southwest Charlotte Hot Neighborhoods
- Find Your Southwest Charlotte/Steele Creek Dream Home
- What's Your Southwest Charlotte/Steele Creek Home Worth
- Previous Housing Market Updates For Southwest Charlotte/Steele Creek
- Buying Or Selling A Home In Southwest Charlotte/Steele Creek...
- Search Southwest Charlotte/Steele Creek Homes For Sale