Ballantyne Real Estate Report: April 2021
Ballantyne remained a seller’s market in April 2021. Months supply of inventory was down (60%) compared with April 2020 with just a 0.6 months supply. Housing inventory was down 56.3% year-over-year, resulting in lower days on market, higher home prices with sellers receiving a median 102.6% of asking price in final sale price.
Ballantyne (28277 Zip Code) Home Sales Report: April 2021
Latest news on the Ballantyne real estate market and what it means for you…
Ballantyne remained a seller’s market in April 2021 due to the continued lack of inventory, which dropped over 56% year-over-year. Months supply of inventory was down 60% compared with April 2020 to 0.6 months of housing supply. The drop in housing inventory year-over-year resulted in lower days on market. Closed and pending sales increased year-over-year… at least partially because of the drop in homes sales due to the lockdowns in April 2020.
Average Ballantyne home sale prices surged 21.2% to $511,885 in April 2021 compared with the same month one year ago. Median home sale prices increased 14.2% to $442,500 in April 2021. Home sellers received a median 102.6% of list price in final sale price (up 3.6% year-over-year).
Ballantyne homes continued to sell quickly with Median Days on Market just 3 days, down 2 days compared with one year ago. Average Days on Market were 10 days, down 14 days year-over-year and down 11 days month-over-month. It should be noted that average days on market for Ballantyne area homes were 52 days just two years ago. Average Price Per Square Foot increased to $184/square foot in April 2021, up $22/square foot versus one year ago.
Closed sales increased 12.6%, while pending sales increased 72.4% in April 2021 compared with one year ago. Historically low interest rates continue to generate immense buyer demand. New listings increased 62% year-over-year and sold as quickly as they came on market. The surge in pending sales and new sales shows just how much the Ballantyne area housing market slowed in April 2020 during the height of the corona virus lockdowns.
Ballantyne’s months supply of homes remained razor-thin at 0.6 months (down 60% from 1.5 months one year ago). This coupled with a 56.3% drop in housing inventory in March, kept Charlotte’s Ballantyne area/28277 zip code a home seller’s market.
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Ballantyne Housing Market Highlights
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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.
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