Ballantyne Real Estate September 2020
Ballantyne real estate September 2020 remained a seller’s market. Months supply of inventory was sharply down (54.4%) compared with September 2019 to a 1 month supply. Housing inventory was down 54.4% year-over-year, resulting in lower days on market and higher pending sales. Both average and median home prices increased year-over-year.
BALLANTYNE REAL ESTATE SEPTEMBER 2020 UPDATE
Latest news on the Ballantyne real estate market in September 2020 and what it means for you…
Ballantyne remained a seller’s market in September 2020 due to the continued lack of inventory. Months supply of inventory was sharply down (-50%) compared with September 2019 to 1 month of housing supply. The 54+% drop in housing inventory resulted in lower days on market, an increase in pending sales and a drop in closed sales.
Average Ballantyne home sale prices increased 16.4% to $444,314 in September 2020 compared with the same month one year ago. Median home sale prices increased 16% to $377,000 in September 2020. Home sellers received 99.2% of list price in final sale price (up 1.5% year-over-year).
Ballantyne homes continue to sell quickly with Median Days on Market at just 7 days, down 7 days compared with one year ago. Average Days on Market were 26 days, down 9 days year-over-year. Average Price Per Square Foot increased 9.9% to $167/square foot in September 2020 compared with one year ago.
Closed sales decreased 12.6%, while pending sales increased 35.9% in September year-over-year in the Ballantyne area. Historically low interest rates spurred buyer demand.
Ballantyne’s months supply of homes remained razor-thin at 1 month (down from 2 months one year ago). This coupled with a 54.4% drop in housing inventory, despite a 9.2% increase in new listings in September, kept Charlotte’s Ballantyne area/28277 zip code a seller’s market.
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Ballantyne Real Estate Highlights
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This Charlotte, North Carolina Ballantyne real estate September 2020 update is provided by Nina Hollander with Coldwell Banker Realty, Ballantyne resident and specialist 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.”
