Ballantyne Real Estate Report: October 2020
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.
Want to know what this would mean for your family if you decide to buy or sell a Ballantyne home?
We can help.
Call us today at 704-779-0813 or contact us here.
There’s absolutely NO OBLIGATION. A consultation with Carolinas Realty Partners is FREE.
Ballantyne Housing Market Highlights
October 2020 versus October 2019
MEDIAN SALE PRICE TRENDS IN BALLANTYNE AREA
12 HOTTEST SELLING BALLANTYNE AREA NEIGHBORHOODS
SEARCH ALL BALLANTYNE 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 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.
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 how:
“The Right Broker Makes All The Difference.”
Search Ballantyne Homes For Sale
