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Ballantyne Housing Market Update: April 2023. What To Know Now.

By
Real Estate Agent with Coldwell Banker Realty 179530

 

LATEST NEWS ON CHARLOTTE'S BALLANTYNE HOUSING MARKET...

WHAT YOU NEED TO KNOW...

WHAT IT MEANS FOR YOU...

 

Key take-aways about the Ballantyne area housing market in April 2023 included:

  • Home sale prices that both held their own and declined.
  • A list to sale price ratio of almost 101%.
  • Average days on market at their lowest level since September 2022.
  • The number of properties sold increased to their highest level since October 2022.
  • April 2023 housing inventory was at its lowest level since May 2022.
  • New listings were down month-over-month and year-over-year.

 

BALLANTYNE AREA HOUSING MARKET HIGHLIGHTS

APRIL 2023 

 

Ballantyne (28277 Zip Code) Housing Market Snapshot April 2023

BALLANTYNE HOME SALE PRICES 

Median sale price in April 2023 was $519,425, down 9.05% from $571,100 in March 2023 and equal to the median sale price in April 2022. 

 

Average sale price in April 2023 was $584,540, equal to the average sale price in March and down 6.03% from $622,082 in April 2022. 

 

Average Sale Price Per Square Foot was $242 in April 2023, up 3.86% from $233 in March 2023 and equal to the price per square foot for Ballantyne homes in April 2022.

 

BALLANTYNE HOMES LIST TO SALE PRICE RATIO OVER 100% 

Home sellers received 100.84% of list price in final sale price in April 2023. While this was 5.8% less than in April 2022, it was 1.7% higher than in March 2023 and at its highest in over seven months.

 

BALLANTYNE AVERAGE DAYS ON MARKET AT THEIR LOWEST LEVEL SINCE SEPTEMBER 2022

Average days on market for Ballantyne area homes in April were 14 days, down 22.2% from 18 days in the previous month of March. Average days on market were 8 days higher than in April 2022 and 6 days higher than in April 2021. The average days on market were at their lowest level in seven months in April 2023.

 

BALLANTYNE SALES INCREASED IN APRIL 2023 TO THEIR HIGHEST LEVEL SINCE OCTOBER 2022

The number of properties sold in April 2023 was 78, up 13.04% from 69 homes sold in the previous month of March. Compared with April 2022, the number of properties sold was 39.6% lower. The April 2023 sales were at their lowest level compared with April 2022 (128 sold properties) and April 2021 (131 sold properties).

 

BALLANTYNE INVENTORY REMAINED LOW IN APRIL

Ballantyne's inventory of properties for sale in April 2023 was 286, down 5.3% from 302 properties in the previous month of March and 6.72% higher than the 268 properties for sale in April 2022. The supply of inventory was higher compared with April 2022 (268 active listings), but lower compared  with April 2021 (303 active listings). April housing inventory was at its lowest level since May 2022.

 

NEW LISTINGS DOWN YEAR-OVER-YEAR & MONTH-OVER-MONTH

The number of new listings in Ballantyne area in April 2023 was 94, down 12.96% from 108 in the previous month of March. New listings were 24.8% lower compared with April 2022. New listings were at their lowest level compared with April 2022 (125 new listings) and April 2021 (149 new listings). 

 

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

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MEDIAN SALE PRICE TRENDS IN BALLANTYNE AREA

 

10 HOTTEST SELLING BALLANTYNE AREA NEIGHBORHOODS

Hottest Selling Neighborhoods In Charlotte's Ballantyne Area 

 

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This Charlotte, North Carolina monthly real estate update for Charlotte's Ballantyne area is provided by Nina Hollander  with Coldwell Banker Realty,  Ballantyne area specialist and neighbor and Greater Charlotte residential real estate expert. I've been opening doors for Ballantyne home buyers and sellers for 24+ 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.

 

Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400 hi Sheila... I was totally blown away when I saw the 14 days on market number. But really shouldn't have been... I've been seeing many Ballantyne properties sell in a weekend.

May 22, 2023 04:32 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Wayne Martin good morning, Wayne... I can certainly bring that historical perspective to the market... the crystal ball is a bit more difficult. The numbers change from month-to-month and it's hard to predict anything these days.

May 22, 2023 04:33 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, looks like Ballantyne is doing the best in your area.  Days on market are so low!

May 22, 2023 05:18 AM
Bill Salvatore - East Valley
Arizona Elite Properties - Chandler, AZ
Realtor - 602-999-0952 / em: golfArizona@cox.net

Nina,

Looks like Ballantyne continues as a sellers' market.  Have a great Monday and sell a house. Bill Salvatore with Arizona Elite Properties. 

May 22, 2023 05:24 AM
Brian England
Ambrose Realty Management LLC - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

With an average of 14 days on the market, I am guessing a lot of people lost out on homes that they wanted because they wanted to think about it before making an offer, haha.

May 22, 2023 05:42 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Joan Cox good morning, Joan... those days on market were just insane in April. Anxious to see the May figures.

May 22, 2023 05:55 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Bill Salvatore - East Valley good morning, Bill... I keep telling people not to be fooled by media headlines... we are still a seller's market.

May 22, 2023 05:55 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Brian England hi Brian... homes in areas like Ballantyne are selling quickly... almost makes your head spin.

May 22, 2023 05:56 AM
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Good morning Nina,

Good communities like these are definitely holding their own! 101% list to sell ratio and average days on the market 14 days is definitely a strong sellers market! Well done report.

May 22, 2023 06:15 AM
Norma J. Elkins
Elite Realty Group - Morristown, TN
Realtor - Elkins Home Selling Team

14 days on the market is showing that market is still HOT!  Great info, thanks for sharing and have a fabulous day!

May 22, 2023 06:43 AM
Ed Silva, 203-206-0754
Mapleridge Realty, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

The Ballantyne market is very active with almost 25% of the inventory going under contract in an average of 14 days. Buyers need to be ready to jump when that special home comes on market.

May 22, 2023 06:52 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Dorie Dillard Austin TX thanks, Dorie. So many think the market is sluggish, but areas like Ballantyne are totally proving them wrong.

May 22, 2023 07:06 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

 Norma J. Elkins good morning, Norma... I sure wasn't expecting to see DOM that low again for a long time!

May 22, 2023 07:07 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Ed Silva for buyers who haven't lost out on a few contracts because they hesitated, this is now a bit of a shock that what the media has them believing about a slow market is not quite so.

May 22, 2023 07:08 AM
Roy Kelley
Retired - Gaithersburg, MD

Families considering a move to the area will love your outstanding local real estate reports.

May 22, 2023 07:47 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Good morning, Roy, and thanks for popping by. Wishing you a marvelous Monday!

May 22, 2023 08:02 AM
Kathy Streib
Cypress, TX
Home Stager/Redesign

Hi Nina- this is proof once again that sellers and buyers need to  consult with local real estate expert and in your area, that would be you. 

May 22, 2023 09:57 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Kathy Streib thanks, Kathy! The markets are so unpredictable these days... you do need a professional who follows it to keep buyers and sellers on their toes.

May 22, 2023 11:51 AM
Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

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

May 22, 2023 09:10 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Myrl Jeffcoat good Tuesday morning, Myrl... thank you for popping by. Wishing you a terrific day ahead.

May 23, 2023 03:54 AM