Ballantyne Real Estate September 2024
Ballantyne real estate September 2024 saw home prices mostly decline from one year ago and one month ago, most likely due to the price mix of homes sold in September. List to sale price ratio was just under 100%. Ballantyne home buyers did not have many opportunities to negotiate on price. Sales declined month-over-month, but increased year-over-year. Days on market remained low at 21 days. Housing inventory increased a seventh consecutive month to its highest level since September 2022. New listings increased in September 2024 after three consecutive months of declines. With 4.42 months supply of inventory, Charlotte’s Ballantyne area inched towards a balanced market between buyers and sellers.
BALLANTYNE REAL ESTATE MARKET TRENDS September 2024
BALLANTYNE HOME SALE PRICES
Median sale price in September 2024 was $568,000, down 12.07% from $646,00 in August 2024. The median sale price improved 3.27% from $550,000 in September 2023. The September 2024 median sale price was at its highest level compared with September 2023 and 2022. The decline in median sale price month-over-month is more likely due to the price mix of homes listed/sold in September and not to a decline in Ballantyne home values.
Average sale price in September 2024 was $627,958, down 8.3% from August 2024. The average sale price was 5.82% lower than $666,799 in September 2023. As with the median sale price, the decline in average sale price is more likely due to the price mix of homes listed/sold in September and not to a decline in Ballantyne home values.
Average Sale Price Per Square Foot was $256 in September 2024, down 1.54% compared with the previous month of August and 2.4% higher than the $250 price per square foot for Ballantyne homes in August 2023.
BALLANTYNE HOMES LIST TO SALE PRICE RATIO JUST UNDER 100%
The list to sale price ratio of 99.72% in September 2024 was equal to the previous month of August and to September 2023.
BALLANTYNE AVERAGE DAYS ON MARKET REMAINED LOW
Average days on market for Ballantyne area homes in September were 21 days, up 5 days from August’s 16 days. September was the third consecutive month of increases in days on market. Average days on market were one day higher than in September 2023 and 3 days higher than in September 2022. Although up in September 2024, 21 days on market are a low number by any measure.
BALLANTYNE SALES DECLINED A 3RD CONSECUTIVE MONTH
The number of properties sold in September 2024 declined to 76, down 7.32% from 82 properties sold in the previous month of August. Compared with September 2023, the number of properties sold was 22.58% higher. September 2023 sales stood at 62. September 2022 sales stood at 92.
BALLANTYNE INVENTORY INCREASED A 7TH CONSECUTIVE MONTH
Ballantyne’s inventory of properties for sale in September 2024 was 336, up 4.02% from 323 properties in August 2024 and 26.79% higher than the 265 properties for sale in September 2023. The number of properties for sale were slightly lower than the 339 properties for sale in September 2022. September inventory was at its highest level since September 2022.
With 4.2 months supply of inventory, Ballantyne area began inching towards a balanced market between buyers and sellers.
NEW LISTINGS UP AFTER FOUR CONSECUTIVE MONTHS OF DECLINES
The number of new listings in Ballantyne area in September 2024 was 99, increasing 4.21% from 95 in the previous month of August. New listings were 39.44% higher than in September 2023, which had 71 new listings. Compared with September 2022, new listings were down by 12 properties in 2024.
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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
