Ballantyne Real Estate February 2024

BALLANTYNE REAL ESTATE MARKET TRENDS

 

BALLANTYNE HOME SALE PRICES UP BY DOUBLE DIGITS

Median sale price in February 2024 was $586,250 up 26.08% from $465,000 in January 2024. The median sale price also increased 37.94% from $425,000 in February 2023. The February 2024 median home sale price was at its highest level compared with February 2023 and February 2022. 

 

Average sale price in February 2024 was $660,070, up 16.31% from $567,511 in January 2024. The average sale price was 35.72% higher than $586,363 in February 2023. The February 2024 average home sale price was at its highest level compared with February 2023 and February 2022.

 

Average Sale Price Per Square Foot was $249 in February 2024, up 3.75% compared with the previous month of January and 7.79% higher than the $231 price per square foot for Ballantyne homes in February 2023.

 

BALLANTYNE HOMES’ LIST TO SALE PRICE RATIO UP TO OVER 102%

Home sellers received 102.41% of list price in final sale price in February 2024. The list to sale price ratio was higher than in the previous month (98.89%) and up from February 2023 when it was 97.88%.

 

 

BALLANTYNE AVERAGE DAYS ON MARKET DOWN

Average days on market for Ballantyne area homes in February were 23 days, down six days from January.  Average days on market were 27 days lower (down 54%) than in February 2023, but 11 days higher than in February 2022. Median days on market in February were just four, which is a result of low supply of homes overall in the Ballantyne area versus demand.

 

 

BALLANTYNE SALES UP 

The number of properties sold in February 2024 increased to 54, up 54.29% from 35 homes sold in the previous month of January. Compared with February 2023, the number of properties sold was 12.5% higher. February 2023 closed sales were 48. February 2022 closed sales were 71.

 

 

BALLANTYNE INVENTORY INCREASED FROM JANUARY, DECLINED YEAR-OVER-YEAR

Ballantyne’s inventory of properties for sale in February 2024 was 288, up 3.2% from 250 properties in January 2024 and 4.09% lower than the 269 properties for sale in February 2023. The number of properties for sale were higher than the 236 properties on the market in February 2022. 

 

 

NEW LISTINGS INCREASED 

The number of new listings in Ballantyne area in February 2024 was 80, increasing 63.27%  from 49 in the previous month of January. New listings were 19.4% higher than in February 2023, which had 67 new listings. Compared with February 2022, new listings were down by 10 properties in 2024.

 

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

 

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This Charlotte, North Carolina monthly Ballantyne real estate report 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 since 1999.

 

If you’re considering selling or purchasing a home in the Charlotte metro area, 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.”

 

Ballantyne Real Estate Report: January 2023