Ballantyne remained a seller’s market in October 2020. Months supply of inventory was down (35.3%) compared with October 2019 to 1.1 months supply. Housing inventory was down 41.4% year-over-year, resulting in lower days on market and higher closed and pending sales and higher home prices.
Ballantyne (28277 Zip Code) Home Sales Report: October 2020
Latest news on the Ballantyne real estate market and what it means for you…
Ballantyne remained a seller’s market in October 2020 due to the continued lack of inventory. Months supply of inventory was down (-35.3%) compared with October 2019 to 1.1 months of housing supply. The 41.4% drop in housing inventory resulted in lower days on market, an increase in closed and pending sales.
Average Ballantyne home sale prices increased 11.1% to $444,709 in October 2020 compared with the same month one year ago. Median home sale prices increased 17.6% to $417,500 in October 2020. Home sellers received 100% of list price in final sale price (up 2.4% year-over-year).
Ballantyne homes continue to sell quickly with Median Days on Market at just 4 days, down 11 days compared with one year ago. Average Days on Market were 23 days, down 15 days year-over-year. Average Price Per Square Foot increased 11.2% to $169/square foot in October 2020 compared with one year ago.
Closed sales increased 6.2%, while pending sales increased 39.6% in October year-over-year in the Ballantyne area. Historically low interest rates spurred buyer demand.
Ballantyne’s months supply of homes remained razor-thin at 1.1 months (down from 1.7 months one year ago). This coupled with a 41.4% drop in housing inventory, despite a 58.8% increase in new listings in October, kept Charlotte’s Ballantyne area/28277 zip code a seller’s market.
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This Charlotte, North Carolina real estate monthly update for Ballantyne 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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