Latest news on the Ballantyne real estate market in December 2021 and what it means for you...
Ballantyne (28277 zip code) remained a seller's market in December 2021 resulting from the continued lack of inventory, which dropped 40.7% year-over-year. Months supply of inventory was down 42.9% compared with December 2020 to 0.4 months of housing supply. Closed and pending sales decreased year-over-year due to lack of inventory.
Average Ballantyne home sale prices increased 11.5% to $494,000 in December 2021 compared with the same month one year ago. Home prices have risen some $107,000 over December 2019. Median home sale prices increased 10.3% to $430,000 in December 2021. Median home prices have risen some $84,000 over December 2019. Home sellers received a median 100.6% of list price in final sale price in December 2021.
Ballantyne homes continued to sell quickly with Median Days on Market just 6 days, down 2 days compared with one year ago and down 24 days from two years ago. Average Days on Market were 21 days, down 3 days year-over-year and down 21 days compared with December 2019.
Average Price Per Square Foot increased to $215/square foot in December 2021, up 24.3% over one year ago. This is only the fourth time that average price per square foot was over $200 in Ballantyne and the highest price per square foot recorded for the Ballantyne area.
Closed sales decreased 17.3%, while pending sales decreased 13.6% in December 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 decreased 2.5% 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 December 2021 home listings averaged 22.3 showings per listing, up 68.9% from 13.2 showings in December 2020. In December 2019 the average listing had 9 showings. It's more buyers chasing fewer listings that is generating the higher levels of home showings even in the midst of the holiday season.
Ballantyne's months supply of homes remained razor-thin at less than half a month at 0.4 months (down 42.9% from 0.7 months one year ago and 1.3 months in December 2019). This, coupled with a 40.7% drop in housing inventory in December, kept Charlotte's Ballantyne area/28277 zip code a home seller's market.
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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, Ballantyne area specialists and neighbors and Greater Charlotte 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 region, I'd love an opportunity to earn your business, to exceed your expectations, and to show you why experience matters and how:
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