Ballantyne Real Estate June 2024
Ballantyne real estate June 2024 experienced a strong month with home sales prices up year-over-year. List to sale price ratio was just under 101.5%. Sales increased in June for a fifth consecutive month, although they were below sales levels in June 2023 and June 2022. Days on market remained low at 13 days. Housing inventory increased a fourth consecutive month to its highest level since November 2022. New listings declined from one month ago, but were at their second highest level since July 2022. With just over three months supply of inventory at 3.02 months, Charlotte’s Ballantyne area remained a home seller’s market.
BALLANTYNE REAL ESTATE MARKET TRENDS June 2024
BALLANTYNE HOME SALE PRICES UP YEAR-OVER-YEAR | DOWN MONTH-OVER-MONTH
Median sale price in June 2024 was $642,000, down 7.23% from $692,000 in May 2024. The median sale price increased 14.64% from $560,000 in June 2023. The June 2024 median home sale price was at its highest level compared with June 2023 and 2022. The decline in the month-to-month median sale price could be well be attributed to the sale price mix of homes in June and not to any decline in the value of Ballantyne homes.
Average sale price in June 2024 was $774,800, down 4.23% from $809,035 in May 2024. The average sale price was 16.37% higher than $665,8333 in June 2023. The June 2024 average home sale price was at its highest level compared with June 2023 and 2022. As with the median sale price, the decline month-over-month in the average sale price is due more to the price mix of homes sold than to any decline in the value of Ballantyne homes.
Average Sale Price Per Square Foot was $270 in June 2024, down 2.17% compared with the previous month of May and 8.43% higher than the $249 price per square foot for Ballantyne homes in June 2023.
BALLANTYNE HOMES’ LIST TO SALE PRICE RATIO OVER 101%
The list to sale price ratio of 101.48% in June 2024 declined from 102.28% in the previous month of May. The list to sale price ratio remained unchanged compared with June one year ago.
BALLANTYNE AVERAGE DAYS ON MARKET REMAINED LOW
Average days on market for Ballantyne area homes in June were 13 days, up 3 days from May’s 10 days. Average days on market were 2 days higher than in June 2023 and eight days higher than in June 2022.
BALLANTYNE SALES UP A FIFTH CONSECUTIVE MONTH
The number of properties sold in June 2024 increased to 101, up 6.32% from 95 properties sold in the previous month of May. Compared with June 2023, the number of properties sold was 10.62% lower. June 2023 stood at 113. June 2022 sales stood at 122.
BALLANTYNE INVENTORY INCREASED A FOURTH CONSECUTIVE MONTH
Ballantyne’s inventory of properties for sale in June 2024 was 305, up 5.17% from 290 properties in May 2024 and 11.21% higher than the 274 properties for sale in June 2023. The number of properties for sale were also higher than the 291 properties on the market in June 2022.
With 3.02 months of inventory (down from 2.09 months one month ago), Ballantyne area remained in home seller “territory” in June 2024.
NEW LISTINGS UP YEAR-OVER-YEAR | DOWN MONTH-OVER-MONTH
The number of new listings in Ballantyne area in June 2024 was 127, declining 7.3% from 137 in the previous month of May. New listings were 11.4% higher than in June 2023, which had 114 new listings. Compared with June 2022, new listings down by 34 properties in 2024. June 2024 listings were at their second highest level since July 2022, which saw 143 new listings.
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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:
Ballantyne Real Estate Report: December 2023 Ballantyne Real Estate Report: November 2023
Ballantyne Real Estate Report: October 2023 Ballantyne Real Estate Report: September 2023
Ballantyne Real Estate Report: August 2023 Ballantyne Real Estate Report: July 2023
Ballantyne Real Estate Report: June 2023
