April home sales in the Ballantyne area of Charlotte, North Carolina (28277 zip code) held their own in the fourth month of 2016 as we entered the height of our spring selling season.
The average sale price of Ballantyne area homes increased by 6.6% to just under $339,000 as compared with the same period one year ago.
Median days on market for property listings dropped to 16 days from 24 days just one year ago--a 33.3% improvement over the same period last year. Average days on market also dropped by 17% to 39 days in April 2016.
Average price per square foot increased by 5.8% to $128/square foot in April 2016 versus the same period in 2015. Pending sales were essentially flat in April versus the same month last year, as were April closed sales. The lack of inventory (new listings declined 5.5% in April) is definitely impacting contracts and closed sales at this point in time.
The median percent of original list price that sellers received for their homes was up .03% compared with last year at 97.3%, showing how little negotiating room there is in the 28277 zip code for Ballantyne area homes.
New listings decreased by 5.5% versus April 2015 ~ adding additional strain to a market starved of available inventory. The Ballantyne area's months supply of homes stood at 2.1 months overall (down 27.6% versus April 2015) and at less than half that with just 1.4 months for foreclosure homes.
Without doubt, it's a true seller's market in the 28277 zip code and very competitive, with many homes selling within days of being listed for sale.
The strong housing market we saw in Ballantyne area the first three months of the new year continued into the fourth month of 2016, as Ballantyne area homes continued to sell, sell faster, and sell for more money. The underlying issue to maintaining the pace of the first four months of 2016 will be to have homes to sell as we enter May.
Ballantyne Area Local Market Update - April 2016
SEARCH ALL BALLANTYNE AREA HOMES FOR SALE
WONDERING WHAT YOUR BALLANTYNE AREA HOME IS WORTH?
Previous Ballantyne Area Housing Market Updates:
- March 2016: http://activerain.com/blogsview/4860234/what-happened-in-charlotte-s-ballantyne-housing-market-in-march-2016
- February 2016: http://activerain.com/blogsview/4844553/what-happened-in-charlotte-s-ballantyne-housing-market-in-feb-2016
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January 2016: http://activerain.com/blogsview/4825184/what-happened-in-charlotte-s-ballantyne-housing-market-in-jan-2016-
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December 2015 - http://activerain.com/blogsview/4808360/what-happened-in-charlotte-s-ballantyne-housing-market-in-dec-2015
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November 2015 - http://activerain.com/blogsview/4791635/what-happened-in-charlotte-s-ballantyne-housing-market-in-nov-2015-
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October 2015 - http://activerain.com/blogsview/4774971/what-happened-in-charlotte-s-ballantyne-area-housing-market-oct-2015
- September 2015 - http://activerain.com/blogsview/4757280/what-happened-in-charlotte-s-ballantyne-housing-market-sept-2015-
- August 2015 - http://activerain.com/blogsview/4737411/what-s-happening-in-charlotte-s-ballantyne-housing-market-august-2015
- July 2015 - http://activerain.com/blogsview/4717100/july-2015-charlotte-housing-market-update-ballantyne-area
- June 2015 - http://activerain.com/blogsview/4698644/june-2015-charlotte-housing-market-update-ballantyne-area
May 2015 -http://activerain.com/blogsview/4680984/may-2015-charlotte-housing-market-update-ballantyne-area
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April 2015 - http://activerain.com/blogsview/4661748/april-2015-charlotte-housing-market-update-ballantyne-area
and have never done a market report. I'm inspired, so I'm making a template today. You have some great techniques. May I incorporate some? 
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