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 May 2023 included:
- Closed home sales increased to their highest level since October 2022.
- A list to sale price ratio of 101.1%.
- Average days on market were low at 19 days, despite increasing from the previous month and year-over-year.
- Average sale price increased 21+% over April and 11+% year-over-year.
- May 2023 housing inventory was at its lowest level since June 2022.
- New listings were down year-over-year and up only by three homes versus the previous month.
BALLANTYNE AREA HOUSING MARKET HIGHLIGHTS
MAY 2023
BALLANTYNE HOME SALE PRICES
Median sale price in May 2023 was $540,000, increasing 3.96% from $519,425 in April 2023. The median sale price was 1.82% lower than the $550,000 price in May 2022.
Average sale price in May 2023 was $708,998, increasing 21.29% from $584,540 in April 2023 and increasing 11.39% from $636,503 in May 2022.
Average Sale Price Per Square Foot was $250 in May 2023, up 3.31% from $242 in April 2023 and 4.6% higher than the $239 price per square foot for Ballantyne homes in May 2022.
BALLANTYNE HOMES LIST TO SALE PRICE RATIO OVER 100%
Home sellers received 101.01% of list price in final sale price in May 2023. While this was 4.69% less than in May 2022, it was 0.17% higher than in April 2023 and at its highest in over eight months.
BALLANTYNE AVERAGE DAYS ON MARKET LOW
Average days on market for Ballantyne area homes in May were 19 days, up from 14 days in the previous month of April. Average days on market were 10 days higher than in May 2022 and 9 days higher than in May 2021. However you "cut it," average days on market are low.
BALLANTYNE SALES INCREASED IN MAY 2023 TO THEIR HIGHEST LEVEL SINCE OCTOBER 2022
The number of properties sold in May 2023 was 83, up 6.41% from 78 homes sold in the previous month of April. Compared with May 2022, the number of properties sold was 26.55% lower. The May 2023 sales were at their lowest level compared with May 2022 (113 sold properties) and May 2021 (118 sold properties).
BALLANTYNE INVENTORY REMAINED LOW IN MAY
Ballantyne's inventory of properties for sale in May 2023 was 289, equal to inventory in the previous month of April and 6.25% higher than the 272 properties for sale in May 2022. The supply of inventory was higher compared with May 2022 (272 active listings), but lower compared with May 2021 (304 active listings). May housing inventory was at its lowest level since June 2022.
NEW LISTINGS DOWN YEAR-OVER-YEAR | UP SLIGHTLY MONTH-OVER-MONTH
The number of new listings in Ballantyne area in May 2023 was 97, up 3.19% from 94 in the previous month of April. New listings were 24.22% lower compared with May 2022. New listings were at their lowest level compared with May 2022 (128 new listings) and May 2021 (155 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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