Latest news on the Ballantyne real estate market and what it means for you...
Ballantyne remained a seller's market in March 2021 due to the continued lack of inventory, which dropped over 66% year-over-year. Months supply of inventory was down (-64.3%) compared with March 2020 to 0.5 months of housing supply. The drop in housing inventory year-over-year resulted in considerably lower days on market, a decrease in closed sales, and much higher home prices.
Average Ballantyne home sale prices increased 14.5% to $472,328 in March 2021 compared with the same month one year ago. Median home sale prices increased 14.9% to $415,123 in March 2021. Home sellers received a median 101.2% of list price in final sale price (up 2.4% year-over-year).
Ballantyne homes continue to sell quickly with Median Days on Market at just 3 days, down 6 days compared with one year ago. Average Days on Market were 21 days, down 19 days year-over-year. Average Price Per Square Foot increased to $182/square foot in March 2021, up $20/square foot versus one year ago.
Closed sales decreased 11.7%, while pending sales increased 9.4% in March 2021 year-over-year in the Ballantyne area. Historically low interest rates continue to generate immense buyer demand. The drop in closed sales is not reflective of a lack of demand for Ballantyne area homes. It's reflective of the lack of inventory. New listings decreased 20.5% year-over-year.
Ballantyne's months supply of homes remained razor-thin at 0.5 months (down 64.3% from 1.4 months one year ago). This coupled with a 66.5% drop in housing inventory in March, kept Charlotte's Ballantyne area/28277 zip code a home seller's market.
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Ballantyne Housing Market Highlights
March 2021 versus March 2020
MEDIAN SALE PRICE TRENDS IN BALLANTYNE AREA
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This Charlotte, North Carolina real estate monthly update for Charlotte's Ballantyne area 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.
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