Ballantyne Real Estate November 2023
Ballantyne Real Estate Market: November 2023
Ballantyne real estate in November 2023 saw home sale prices increase year-over-year and month-over-month. The list to sale price ratio remained over 100% and up 2.17% from one year ago. Homes sold quickly with average days on market just 11 days. Closed sales declined both month-over-month and year-over-year. Inventory of homes declined from October and was 13.67% lower than in November one year ago. The 5.49 months supply of inventory would indicate a real estate market that is becoming more balanced between buyers and sellers.
BALLANTYNE AREA HOUSING MARKET HIGHLIGHTS
BALLANTYNE HOME SALE PRICES UP
Median sale price in November 2023 was $575,300, increasing 13.93% from $504,978 in October 2023. The median sale price also improved 19.11% from $483,000 in November 2022. The November 2023 median home sale price was at its highest level compared with November 2022 and November 2021.
Average sale price in November 2023 was $661,268, increasing 14.9% from $575,514 in October 2023. The average sale price was 19.92% higher than $551,445 in November 2022. The November 2023 average home sale price was at its highest level compared with November 2022 and November 2021.
Average Sale Price Per Square Foot was $250 in November 2023, up 3.31% compared with the previous month of October and 13.12% higher than the $221 price per square foot for Ballantyne homes in November 2022.
BALLANTYNE HOMES’ LIST TO SALE PRICE RATIO OVER 100%
Home sellers received 100.07% of list price in final sale price in November 2023. The list to sale price ratio was flat compared with the previous month and up 2.17% from November 2022 when it stood at 97.9%.
BALLANTYNE AVERAGE DAYS ON MARKET LOW AT 11 DAYS
Average days on market for Ballantyne area homes in November were 11 days, down from 13 days in the previous month of October. Average days on market were 22 days lower than in November 2022 and two days lower than in November 2021. This was the second lowest number of days on market in 2023. The November days on market were nine days lower than the 2023 year-to-date average days on market.
BALLANTYNE SALES DECLINED
The number of properties sold in November 2023 declined to 53, down 26.39% from 72 homes sold in the previous month of October. Compared with November 2022, the number of properties sold was 18.46% lower. November 2022 closed sales were 65. November 2021 closed sales were 94.
BALLANTYNE INVENTORY DECLINED MONTH-OVER-MONTH & YEAR-OVER-YEAR
Ballantyne’s inventory of properties for sale in November 2023 was 291, down 2.35% from 298 properties in October 2023 and 13.67% lower than the 337 properties for sale in November 2022. The number of properties for sale were slightly higher than the 287 properties on the market in November 2021. The months supply of inventory at 5.49 months in November 2023 indicates a stabilizing market with a trend towards a more balanced market between buyers and sellers.
NEW LISTINGS DOWN MONTH-OVER-MONTH
The number of new listings in Ballantyne area in November 2023 was 53, declining 23.38% from 74 in the previous month of October. New listings were equal to the 53 in November 2021 and were considerably lower compared with November 2021 which had 97 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 for 25 years.
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:
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