September 2015 showed a continued solid performance for home sales in the Ballantyne area of Charlotte (28277 zip code) as the fall selling season kicked off. The average sale price of Ballantyne area homes increased by 4.4% to just over $330,000 as compared with the same period one year ago.
Median days on market for property listings dropped to 19 days from 36 days just one year ago--a 47.2% improvement over the same period last year. Average days on market also dropped by 21.8% in September 2015.
Average price per square foot also increased by 6.2% to $122/square foot in September 2015 versus the same period in 2014. Pending sales were up 12.5% in September versus the same period last year, while September's closed sales were up 3.6%.
The median percent of original list price that sellers received for their homes was essentially flat compared with last year, but at 97.2%, it shows how little negotiating room there is in the 28277 zip code for Ballantyne area homes.
Without doubt, Ballantyne area homes are selling, selling faster, and selling for more money.
New listings increased slightly by 3.6% versus September 2014 ~ good news to a market starved of available inventory. The Ballantyne area's months supply of homes stands at 2.5 months overall and at less than half that with just 1.1 months for foreclosure homes. It's a true seller's market in the 28277 zip code and very competitive, with many homes selling within a day or two of listing, often with multiple offers.
Ballantyne Area Local Market Update - September 2015
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