Ballantyne remained a home seller’s market in June 2021. Months supply of inventory was down 64.3% compared with June 2020 with just a 0.5 months supply. Housing inventory was down 58.6% year-over-year, resulting in fewer days on market, much higher home prices with sellers receiving a median 104.2% of asking price in final sale price. The Ballantyne housing market has fully recovered from the effects of the pandemic just one year ago.
Ballantyne (28277 Zip Code) Home Sales Report: June 2021
Ballantyne remained a seller’s market in June 2021 due to the continued lack of inventory, which dropped almost 59% year-over-year. Months supply of inventory was down 64.3% compared with June 2020 to 0.5 months of housing supply. The drop in housing inventory year-over-year resulted in 17 fewer days on market on average. Closed sales increased year-over-year, while pending sales were down due to lack of inventory.
Average Ballantyne home sale prices surged 33.5% to $516,693 in June 2021 compared with the same month one year ago. Average home sale prices in Ballantyne were about $90,000 higher than just two years ago. Median home sale prices increased 33% to $472,250 in June 2021. Median home sale prices increased approximately $93,000 since 2019. Both average and media home sale prices were up in June 2021 month-over-month. Home sellers received a median 104.2% of list price in final sale price (up 5.1% year-over-year).
Ballantyne homes continued to sell quickly with Median Days on Market just 3 days, down 5 days compared with one year ago and down 8 days from two years ago. Average Days on Market were 4 days, down 17 days year-over-year and down 4 days month-over-month. It should be noted that average days on market for Ballantyne area homes were 22 days just two years ago. Average Price Per Square Foot increased to $191/square foot in June 2021, up $27/square foot versus one year ago.
Closed sales increased 16.5%, while pending sales decreased 1.9% in June 2021 compared with one year ago (primarily due to lack of inventory and new listings). Historically low interest rates continue to generate immense buyer demand. New listings were down 7.8% 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 June 2021 home listings averaged 25.1 showings per listing, up 75.5% from 14.3 showing in June 2020. In 2019 the average listing had 10.2 showings.
Ballantyne’s months supply of homes remained razor-thin at 0.5 months (down 64.3% from 1.4 months one year ago and 2.3 months two years ago). This coupled with a 58.6% 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
June 2021 versus June 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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