Charlotte's Ballantyne Remains A Home Seller's Market In August 2021

By
Real Estate Agent with Coldwell Banker Realty

 

Latest news on the Ballantyne real estate market in August 2021 and what it means for you...

Ballantyne remained a seller's market in August 2021 due to the continued lack of inventory, which dropped 51.4% year-over-year. Months supply of inventory was down 53.8% compared with August 2020 to 0.6 months of housing supply. The months supply of inventory also dropped 0.1 months since July 2021. The drop in housing inventory year-over-year resulted in 17 fewer days on market, on average. Closed sales decreased year-over-year due to lack of inventory, although pending sales did increase.

 

Average Ballantyne home sale prices increased 16.5% to $525,878 in August 2021 compared with the same month one year ago. Average home sale prices in Ballantyne were about $112,000 higher than just two years ago.  Median home sale prices have increased 9.9% to $439,000 in August 2021. Median home sale prices increased approximately $66,000 since 2019. Home sellers received a median 103.2% of list price in final sale price (up 4.2% year-over-year). 

 

Ballantyne homes continued to sell quickly with Median Days on Market just 4 days, down 2 days compared with one year ago and down 8 days from two years ago. Average Days on Market were 10 days, down 17 days year-over-year.  It should be noted that average days on market for Ballantyne area homes were 35 days just two years ago.

 

Average Price Per Square Foot increased to $202/square foot (a new record) in August 2021, up $35/square foot versus one year ago.

 

Closed sales decreased 2.7% (primarily due to lack of inventory and new listings), while pending sales increased 14.5% in August 2021 compared with one year ago. Meanwhile, historically low interest rates continue to generate buyer demand. New listings were up 6.3% year-over-year and sold as quickly as they came on market.

 

One indicator of how much demand there is for homes is the average number of showings per listing. In August 2021 home listings averaged 19.3 showings per listing, up 35.0% from 14.3 showings in August 2020. In August 2019 the average listing had 9.5 showings.

 

Ballantyne's months supply of homes remained razor-thin at 0.6 months (down 53.8% from 1.3 months one year ago and 2.1 months two years ago). This, coupled with a 51.4% drop in housing inventory in July, kept Charlotte's Ballantyne area/28277 zip code a home seller's market.

 

Want to know what this would mean for your family if you decide to buy or sell a Ballantyne home?

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 Ballantyne Housing Market Highlights

August 2021 versus August 2020

Ballantyne, NC/28277 Zip Code Real Estate Report August 2021

 

MEDIAN SALE PRICE TRENDS IN BALLANTYNE AREA

 

13 HOTTEST SELLING BALLANTYNE AREA NEIGHBORHOODS

 

Hot Ballantyne Neighborhoods 

 SEARCH ALL BALLANYNE AREA HOMES 

 

 

FREE Home Buyer Guide: “Things To Consider When Buying A Home”

 

WONDERING WHAT YOUR BALLANTYNE AREA HOME IS WORTH?

 

What's My Ballantyne Area Home Worth?

 

FREE Home Seller Guide: “Things To Consider When Selling Your House,”

 

THINKING OF SELLING YOUR HOME? CHECK OUT THE COLDWELL BANKER MARKETING ADVANTAGE

 

This Charlotte, North Carolina monthly real estate 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.

 

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 why experience matters and how:

 "The Right Broker Makes All The Difference."

 

 

Read the original post at www.GreatHomesInCharlotte.com 

 

Posted by

 

 Nina Hollander, RE/MAX Broker, Realtor

 

 

 

Broker, Realtor, MBA, GRI, ABR, SRES, CDPE, SFR, SPS, CMRS
Carolinas Realty Partners with Coldwell Banker Realty
Direct: 704-779-0813
Website: www.GreatHomesInCharlotte.com
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Disclaimer:  Nothing in this blog article is to be construed as legal advice, tax advice, or financial advice.  For legal advice see an attorney.   For tax advice or financial advice see a tax attorney, certified public accountant, or other qualified professional.

 

Comments (22)

Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Nina. Representing a buyer or a seller in the Ballantyne market requires an agent with a wealth of knowledge and quick on their feet. I nominate you! Enjoy your day.

Sep 19, 2021 05:39 AM
Brian England
Vacasa - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

Those are certainly strong numbers for sellers and buyers have to be ready to pull the trigger quickly in this market.

Sep 19, 2021 05:48 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Joan Cox hi Joan... while we are seeing slight increases in inventory, they are so slight they are just not that impactful as yet on sales and home prices.

Sep 19, 2021 05:49 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Roy Kelley thanks, Roy. Happy Sunday to you... trust you and Dolores have been enjoying your weekend.

Sep 19, 2021 05:50 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Wayne Martin hi Wayne... and that is a nomination I'll accept! I've lived in Ballantyne for 20 years and before there was a single traffic light in the entire area. I know it like the back of my hand.

Sep 19, 2021 05:51 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Brian England good morning, Brian... you snooze, you lose is the operative word in many parts of the the Charlotte region, still.

Sep 19, 2021 05:52 AM
Bill Salvatore - YVP Blog
Arizona Elite Properties - Chandler, AZ
Realtor - Valley of the Sun / golfArizona@cox.net

Lack of Inventory is the culprit.  Unless the builders can increase their build times greatly. Make it a restful Sunday, as the neww starts tomorrow.  Thanks again for the post.  Bill Salvatore

Sep 19, 2021 06:27 AM
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Good morning Nina,

Another splendid market report from which both buyers and sellers can benefit from.  And of course, they should work with you.  A

Sep 19, 2021 06:50 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Bill Salvatore - YVP Blog hi Bill... lack of inventory is the culprit and in areas like Ballantyne there's no more space to build, so builders can't help all that much.

Sep 19, 2021 06:52 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Ron and Alexandra Seigel thanks so much, Alexandra, for that great comment. I like to think Ballantyne buyers and sellers would benefit from working with me... I'm pretty much a Ballantyne "native" having lived here for 20 years since its infancy.

Sep 19, 2021 06:53 AM
Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Condo and Home Specialists

Sellers will appreciate reading about the increase in sales for Ballantyne's Real Estate market Nina.  And, if they call and work with you, they too will realize the increase!

Sep 19, 2021 07:07 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400 good morning, Sheila... certainly, no slowdown in home prices in the Ballantyne area... lack of supply of homes keeps driving them up.

Sep 19, 2021 07:55 AM
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Nina and wonder when it will be a buyers market again.  I have a couple of buyers  that want to wait till it is a buyers market.

 

Sep 19, 2021 09:07 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Will Hamm hi Will... buyers who are waiting for a buyers market will be waiting for several years if you ask me. 

Sep 19, 2021 10:35 AM
Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

Hi Nina- if anyone knows and understands the Ballantyne market, it's you.  Any buyer or seller would be wise to contact you. 

Sep 19, 2021 12:26 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Kathy Streib hi Kathy... As an early resident of Ballantyne, you better believe I keep a close eye on what's happening here.

Sep 19, 2021 01:40 PM
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Nina you guys have been in a Seller's market for a while, and I don't see any signs of it ending soon.  Buyer's would be wise to buy sooner than later.

Sep 19, 2021 04:26 PM
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

Ballantyne home buyers and sellers are sure to value your real estate market report, Nina.

Sep 20, 2021 01:11 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

George Souto hi George... You are so right. Ballantyne has been a seller's market for at least five years now. 

Sep 20, 2021 04:28 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Myrl Jeffcoat good Monday morning, Myrl. Thanks for stopping by. Wishing you a wonderful new week ahead.

Sep 20, 2021 04:29 AM