Ballantyne Real Estate Report: April 2022

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

Ballantyne (28277 zip code) remained a home seller’s market in April 2022, resulting from the continued lack of inventory, which dropped 48.4% year-over-year. Months supply of inventory was down 42.9% compared with April 2021 to 0.4 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 21% to $618,330 in April 2022 compared with the same month one year ago. Month-over-month, average sale prices increased approximately $71,000.  Median home sale prices increased 18.2% to $520,147 in April 2022.  Median home sale prices were some $132,000 higher in April 2022 than they were in April 2020, while average home sale prices were about $196,000 higher than they were two years prior in April.

 

Home sellers received a median 105.9% of list price in final sale price in April 2022, up 3.1% year-over-year. Ballantyne area home buyers had virtually no window of opportunity to negotiate on price in April 2022.

 

Ballantyne homes continued to sell quickly with Median Days on Market just 3 days, flat year-over-year, and down two days from two years ago. Average Days on Market were 5 days, down 5 days year-over-year and down 19 days compared with April 2020. Average days on market dropped 11 days month-over-month.

 

Average Price Per Square Foot increased to $239/square foot in April 2022, up 29.9% over one year ago. The $239/square foot sets a new record for Ballantyne area homes.

 

Closed sales decreased 4.6%, while pending sales decreased 4.8% in April 2022 compared with one year ago (primarily due to lack of inventory and new listings). Meanwhile, despite an uptick in interest rates, buyer demand remained high as buyers looked to lock in rates before they rise further. New listings decreased 16.1% 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 April 2022 home listings averaged 28.1 showings per listing. More buyers chasing fewer listings generated the high levels of home showings.

 

Ballantyne’s months supply of homes remained razor-thin at less than half a month at 0.4 months (down 42.9% from 0.7 months one year ago).  This, coupled with a 48.4% drop in housing inventory in April, 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

April 2022 versus April 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,  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.”