Ballantyne's Months Supply Of Homes Razor Thin At 0.4 Months: Dec 2021

By
Real Estate Agent with Coldwell Banker Realty

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.

 

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

December 2021 versus December 2020

Ballantyne Area (28277 Zip Code) Housing Market Update For December 2021

 

MEDIAN SALE PRICE TRENDS IN BALLANTYNE AREA

 

13 HOTTEST SELLING BALLANTYNE AREA NEIGHBORHOODS

 

Hot Ballantyne Neighborhoods 

 SEARCH ALL BALLANYNE AREA HOMES 

 

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

 

WONDERING WHAT YOUR BALLANTYNE AREA HOME IS WORTH?

 

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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:

 "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
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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 (28)

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

Ballantyne's supply of homes is really razor-thin Nina. The Holiday's are over and maybe now more sellers will start listing their homes. Of course, they need to call you for excellent representation!

Jan 10, 2022 08:25 AM
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Hi Nina - your market report is my case in point for my blog today.  You don't sell but rather you curate the data and that helps them decide.

Jan 10, 2022 08:28 AM
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

This is great information to share with families on the move.

Jan 10, 2022 09:44 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400 hi Sheila... I keep thinking that inventory couldn't go any lower and then it does! 

Jan 10, 2022 11:25 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Grant Schneider hi Grant... that may be when I represent a buyer. However, when I represent a seller, I'm not just curating data... I'm marketing and selling  their home as well.

Jan 10, 2022 11:26 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Roy Kelley thank you, Roy, for popping by today. Hopefully the new week is off to a good start for you.

Jan 10, 2022 11:27 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, great report for Ballantyne, and at least 10 and 11% is not so "over the top" like other areas within Ballantyne.

Jan 10, 2022 11:47 AM
Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

hi Nina- another very thorough market report for Ballantyne. If someone is interested in selling or buying they need to contact you now. 

Jan 10, 2022 11:51 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Joan Cox hi Joan... I've given up trying to predict where home prices are heading. Ballantyne covers lots of price ranges so sometimes it just depends on the mix of homes for sale in a specific month.

Jan 10, 2022 12:02 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Kathy Streib thanks, Kathy.  Right now it seems sellers are sitting tight and buyers are sitting tight waiting to see if interest rates will keep going up.

Jan 10, 2022 12:03 PM
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Nina .4 months is not just razor thin, it is almost non existing.

Jan 10, 2022 12:11 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

George Souto you got that right, George... so many people don't understand than when real estate inventory drops that low it's like having no inventory.

Jan 10, 2022 12:22 PM
Jeffrey DiMuria 321.223.6253 Waves Realty
Waves Realty - Melbourne, FL
Florida Space Coast Homes

.4 months is just silly. This is when both buyers and sellers really need a strong agent.

Jan 10, 2022 05:15 PM
Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

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

Jan 10, 2022 05:52 PM
Brian England
Vacasa - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

Wow, less than half a month's supply is indeed razor-thin and Ballantyne is definitely a desirable place to call home in the Charlotte area.

Jan 11, 2022 04:43 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Jeffrey DiMuria 321.223.6253 Waves Realty good morning, Jeff... .4 months of inventory is silly, crazy, frustrating... I can think of a few more words to describe it!

Jan 11, 2022 05:20 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Myrl Jeffcoat good morning, Myrl... nice to see your smiling face first thing today... wishing you a wonderful Tuesday.

Jan 11, 2022 05:20 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Brian England good morning, Brian... Ballantyne, for sure, is a desirable place to live... but inventory of .4 months is insane.

Jan 11, 2022 05:21 AM
Carla Freund
Keller Williams Preferred Realty - Raleigh, NC
Carolina Life RealEstate & Relocation 919-602-8489

Wow Nina, that isn't much. Buyers in Ballentyne need someone like you who is on top of the market.

Jan 12, 2022 05:28 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Carla Freund good morning, Carla... even being on "top" of the market doesn't help much these days. I've got buyers in the 400-600K price ranges and can't find anything for them.

Jan 12, 2022 07:23 AM
Carla Freund

I know. I have the same problem. Yesterday a buyer asked me how two towns/areas of the Triangle compare. I told them they're about a decade different. For their budget, they can get a home built in the 70s/80s in one area or a home built in the 80s/90s in another. Hard to believe what you get these days.

Jan 13, 2022 06:37 AM