Ballantyne Real Estate Report: January 2022

Latest news on the Ballantyne real estate market in January 2022 and what it means for you…

Ballantyne (28277 zip code) remained a home seller’s market in January 2022 as we began a new year, resulting from the continued lack of inventory, which dropped 54.2% year-over-year. Months supply of inventory was down 50% compared with January 2021 to 0.3 months of housing supply. Closed and pending sales decreased year-over-year due to lack of inventory and new listings.

 

Average Ballantyne home sale prices increased 12.3% to $474,741 in January 2022 compared with the same month one year ago. Median home sale prices increased 18.5% to $428,799 in January 2022.  Home sellers received a median 100.6% of list price in final sale price in January 2022.

 

Ballantyne homes continued to sell quickly with Median Days on Market just 4 days, down 1 day compared with 5 days one year ago and down 31 days from two years ago. Average Days on Market were 14 days, down 4 days year-over-year and down 32 days compared with January 2020. Average days on market were also down 7 days month-over-month.

 

Average Price Per Square Foot increased to $213/square foot in January 2022, up 26.8% over one year ago. This is only the fifth time that average price per square foot was over $200 in Ballantyne and the second highest price per square foot recorded for the Ballantyne area.

 

Closed sales decreased 16.5%, while pending sales decreased 23.2% in January 2022 compared with one year ago (primarily due to lack of inventory and new listings). Meanwhile, despite an uptick in interest rates in January,  low interest rates continued to generate buyer demand as buyers looked to lock in rates before they rise further. New listings decreased 35.8% year-over-year and sold as quickly as they came on market.

 

One indicator of how much demand there is for homes is the average number of showings per listing. In January 2022 home listings averaged 33 showings per listing, up 52.1% from 22 showings in January 2021. In January 2020, the average listing had 15 showings. It’s more buyers chasing fewer listings that is generating the higher levels of home showings.

 

Ballantyne’s months supply of homes remained razor-thin at less than half a month at 0.3 months (down 50% from 0.6 months one year ago and 1.1 months in January 2020).  This, coupled with a 54.2% drop in housing inventory in January, kept Charlotte’s Ballantyne area/28277 zip code a home seller’s market.

 

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

 

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Ballantyne Housing Market Highlights

January 2022 versus January 2021

 

 

MEDIAN SALE PRICE TRENDS IN BALLANTYNE AREA

 

 

13 HOTTEST SELLING BALLANTYNE AREA NEIGHBORHOODS

 

 SEARCH ALL BALLANYNE AREA HOMES 

 

 

FREE Home Buyer Guide: “Things To Consider When Buying A Home”

 

WONDERING WHAT YOUR BALLANTYNE AREA HOME IS WORTH?

FREE Home Seller Guide: “Things To Consider When Selling Your House,”

 

THINKING OF SELLING YOUR HOME? CHECK OUT THE COLDWELL BANKER MARKETING ADVANTAGE

 

This Charlotte, North Carolina monthly real estate update for Charlotte’s Ballantyne area is provided by Nina Hollander and Carolinas Realty Partners with Coldwell Banker Realty, your Ballantyne area specialists and neighbors and Charlotte metro area residential real estate experts. We’ve been opening doors for Ballantyne home buyers and sellers for 20+ 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:

 “The Right Broker Makes All The Difference.”