Ballantyne remained a home seller’s market in August 2021. Months supply of inventory was down 53.8% compared with August 2020 with just a 0.6 months supply of homes. Housing inventory was down 51.4% year-over-year, resulting in fewer days on market, higher home prices with sellers receiving a median 103.2% of list price in sale price.
Ballantyne (28277 Zip Code) Home Sales Report: August 2021
Ballantyne remained a seller’s market in August 2021 due to the continued lack of inventory, which dropped 51.4% year-over-year. Months supply of inventory was down 53.8% compared with August 2020 to 0.6 months of housing supply. The months supply of inventory also dropped 0.1 months since July 2021. The drop in housing inventory year-over-year resulted in 17 fewer days on market, on average. Closed sales decreased year-over-year due to lack of inventory, although pending sales did increase.
Average Ballantyne home sale prices increased 16.5% to $525,878 in August 2021 compared with the same month one year ago. Average home sale prices in Ballantyne were about $112,000 higher than just two years ago. Median home sale prices have increased 9.9% to $439,000 in August 2021. Median home sale prices increased approximately $66,000 since 2019. Home sellers received a median 103.2% of list price in final sale price (up 4.2% year-over-year).
Ballantyne homes continued to sell quickly with Median Days on Market just 4 days, down 2 days compared with one year ago and down 8 days from two years ago. Average Days on Market were 10 days, down 17 days year-over-year. It should be noted that average days on market for Ballantyne area homes were 35 days just two years ago.
Average Price Per Square Foot increased to $202/square foot (a new record) in August 2021, up $35/square foot versus one year ago.
Closed sales decreased 2.7%, while pending sales increased 14.5% in August 2021 compared with one year ago (primarily due to lack of inventory and new listings). Meanwhile, historically low interest rates continue to generate buyer demand. New listings were up 6.3% 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 August 2021 home listings averaged 19.3 showings per listing, up 35.0% from 14.3 showings in August 2020. In August 2019 the average listing had 9.5 showings.
Ballantyne’s months supply of homes remained razor-thin at 0.6 months (down 53.8% from 1.3 months one year ago and 2.1 months two years ago). This, coupled with a 51.4% drop in housing inventory in August, kept Charlotte’s Ballantyne area/28277 zip code a home seller’s market.
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Ballantyne Housing Market Highlights
August 2021 versus August 2020
MEDIAN SALE PRICE TRENDS IN BALLANTYNE AREA
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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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