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 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).
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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
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