Ballantyne (28277 Zip) Homes Sold In Under 2 Weeks In October 2021

By
Real Estate Agent with Coldwell Banker Realty

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

Ballantyne remained a seller's market in October 2021 due to the continued lack of inventory, which dropped 45.9% year-over-year. Months supply of inventory was down 41.7%, compared with October 2020, to 0.7 months of housing supply. The drop in housing inventory year-over-year resulted in eight fewer days on market, on average. Closed and pending sales decreased year-over-year due to lack of inventory.

 

Average Ballantyne home sale prices increased 16.6% to $516,570 in October 2021 compared with the same month one year ago. Average home sale prices also increased approximately $16,000 month-over-month.  Median home sale prices have increased 13.8% to $475,000 in October 2021. Median home sale prices increased $40,000 over September 2021. Home sellers received a median 100.2% of list price in final sale price (up 1.2% year-over-year). 

 

Ballantyne homes continued to sell quickly with Median Days on Market just 4 days, flat compared with one year ago and down 11 days from two years ago. Average Days on Market were 13 days, down eight days year-over-year and down 23 days since October 2019. 

 

Average Price Per Square Foot increased to $201/square foot in October 2021, up $32/square foot versus one year ago. This is only the second time that average price per square foot was over $200 in Ballantyne. The first time was in August 2021 when average price per square foot reached $202/square foot.

 

Closed sales decreased 18.2%, while pending sales decreased 24.5% in October 2021 compared with one year ago (primarily due to lack of inventory and new listings). Meanwhile, historically low interest rates continue to generate buyer demand. New listings were down 29.3% 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 October 2021 home listings averaged 17.5 showings per listing, up 20.7% from 14.5 showings in October 2020. In October 2019 the average listing had 9.2 showings. It's more buyers chasing fewer listings that is generating the higher levels of home showings.

 

Ballantyne's months supply of homes remained razor-thin at 0.7 months (down 41.7% from 1.2 months one year ago and 1.7 months two years ago). This, coupled with a 45.9% drop in housing inventory in September, 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

October 2021 versus October 2020

Ballantyen (28277 Zip Code) Housing Market Update October 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 (12)

Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good morning Nina - everything is down except for the prices in Ballantyne.

Nov 13, 2021 05:34 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Grant Schneider good morning, Grant... and that, precisely, is why home prices are up!

Nov 13, 2021 05:36 AM
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

NIna,

What great title for your post.  Wising you a wonderful Saturday as well as Sunday.  We are settling in at  home after 4 days away.  A

Nov 13, 2021 06:23 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Ron and Alexandra Seigel thanks, Alexandra. Welcome home! I can't remember the last time I was away from home, period, much less for four days! 

Nov 13, 2021 06:27 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Nina, your title does give buyers some urgency when they are looking for homes in and around the Charlotte area!  

Nov 13, 2021 06:29 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Joan Cox hi Joan... we have so many parts of our region where the average days on market are under two weeks month after month. As for median days, it's amazing to think that on the who half the homes sell in under 5 days.

Nov 13, 2021 06:34 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

SOLD in Ballantyne! That's the results sellers will see when they list their home now. And the way to get this done is by contacting Nina Hollander today.

Nov 13, 2021 07:05 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Ron and Alexandra Seigel hi Sheila... SOLD in Ballantyne should be the area's slogan at this point in time. Houses sell so quickly it can make your head spin.

Nov 13, 2021 07:19 AM
Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

The market, it seems in most areas, is continuing to be challenging for buyers in this final quarter of 2021.  Can't help but wonder what 2022 will bring? A bit of a softening in prices around here, but nothing dramatic. 

Nov 13, 2021 07:41 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Debb Janes EcoBroker and Bernie Stea JD hi Debb... so nice to "see" you! Trust you are doing well. I'm not expecting drastic changes in our market come 2022... price appreciation might slow down a bit, but home prices won't decline.

Nov 13, 2021 07:58 AM
Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

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

Nov 15, 2021 01:28 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Myrl Jeffcoat hi Myrl... always appreciate your taking the time to pop by and leave me a comment. Happy Tuesday!

Nov 16, 2021 04:36 AM