Latest news on the Ballantyne real estate market and what it means for you...
Ballantyne remained a seller's market in November 2020 due to the continued lack of inventory. Months supply of inventory was down (-53.3%) compared with November 2019 to 0.8 months of housing supply. The 53.3% drop in housing inventory resulted in lower days on market, an increase in closed and pending sales.
Average Ballantyne home sale prices increased 7.4% to $440,055 in November 2020 compared with the same month one year ago. Median home sale prices increased 10% to $392,804 in November 2020. Home sellers received a median 99.5% of list price in final sale price (up 1.6% year-over-year).
Ballantyne homes continue to sell quickly with Median Days on Market at just 4 days, down 8 days compared with one year ago. Average Days on Market were 17 days, down 20 days year-over-year.
Average Price Per Square Foot increased to $170/square foot in November 2020, up $8/square foot versus one year ago.
Closed sales increased 32.6%, while pending sales increased 20.4% in November year-over-year in the Ballantyne area. Historically low interest rates continue to generate buyer demand.
Ballantyne's months supply of homes remained razor-thin at 0.8 months (down from 1.5 months one year ago). This coupled with a 53.3% drop in housing inventory and a small decrease of 1.1% in new listings in November, kept Charlotte's Ballantyne area/28277 zip code a seller's market.
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This Charlotte, North Carolina real estate monthly update for Ballantyne is provided by Nina Hollander and Carolinas Realty Partners with Coldwell Banker Realty, your Ballantyne area specialists and neighbors and Charlotte metro area residential real estate experts. We've been opening doors for Ballantyne home buyers and sellers for 20+ years.
If you're considering selling or purchasing a home in the Charlotte metro area, I'd love an opportunity to earn your business, to exceed your expectations, and to show you how:
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Read the original article at: www.GreatHomesInCharlotte.com
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