Ballantyne (28277 zip code in Charlotte) real estate report and housing market snapshot: July 2019. Average Ballantyne home sale prices increased 8.8% in July 2019 compared with the same month one year ago. This was the second month in a row we saw a significant increase in home sale prices. Ballantyne homes, on average, sold in under one month, with average days on market 8 days lower than in July 2018. Pending sales were up 27.2% in July year-over-year. The months supply of homes remained low at 1.9 months and a 19% drop in housing inventory kept the Ballantyne area/28277 zip code housing market a seller’s market.
Ballantyne Housing Market Snapshot: July 2019
- Average sale price of Ballantyne area homes increased 8.8% in July 2019 to $440,684 year-over-year (and almost $14,000 higher, on average, versus the prior month of June 2019).
- Median sale price in July 2019 increased 4.8% versus one year ago to $390,000.
- Average days on market for property listings in Ballantyne were 26 days in July 2019 (down 8 days compared with one year ago and down 1 day versus the most recent month of June).
- Median days on market were 11 days in July 2019, down 2 days compared with one year ago and down 1 day compared with the most recent month of June. Homes in Ballantyne continue to sell quickly and in under one month, on average.
- Average price per square foot was $154/square foot in July 2019, up 3.4% compared with the same period in 2018.
- Pending sales in Ballantyne increased 27.2% in July 2019 versus the same month last year.
- Closed sales in Ballantyne decreased 5.8% compared with the same month one year ago. This decrease was not unexpected given the lack of inventory in the 28277 zip code.
- New listings in Ballantyne barely increased 0.6% versus July 2018.
- Months supply of inventory remained low in July 2019 at 1.9 months keeping Ballantyne a seller’s market. Inventory was down 19% compared with July 2018.
- Median percent of original list price that sellers received for their homes was 98%. Certainly not a lot of negotiating room for Ballantyne home buyers.
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Previous Housing Market Updates For Charlotte’s Ballantyne Area
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This Charlotte, North Carolina real estate monthly update for Ballantyne is brought to you by Nina Hollander and Carolinas Realty Partners with Coldwell Banker Residential Brokerage, your Ballantyne area specialists and neighbors and Charlotte metro area residential real estate experts. We’ve been opening doors for Ballantyne area home buyers and sellers for 20+ years and have been your Ballantyne neighbors since 2001.
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