Ballantyne Real Estate Report: September 2020
Ballantyne remained a seller’s market in September 2020. Months supply of inventory was sharply down (54.4%) compared with September 2019 to a 1 month supply. Housing inventory was down 54.4% year-over-year, resulting in lower days on market and higher pending sales. Both average and median home prices increased year-over-year.
Ballantyne (28277 Zip Code) Home Sales Report: September 2020
Latest news on the Ballantyne real estate market and what it means for you…
Ballantyne remained a seller’s market in September 2020 due to the continued lack of inventory. Months supply of inventory was sharply down (-50%) compared with September 2019 to 1 month of housing supply. The 54+% drop in housing inventory resulted in lower days on market, an increase in pending sales and a drop in closed sales.
Average Ballantyne home sale prices increased 16.4% to $444,314 in September 2020 compared with the same month one year ago. Median home sale prices increased 16% to $377,000 in September 2020. Home sellers received 99.2% of list price in final sale price (up 1.5% year-over-year).
Ballantyne homes continue to sell quickly with Median Days on Market at just 7 days, down 7 days compared with one year ago. Average Days on Market were 26 days, down 9 days year-over-year. Average Price Per Square Foot increased 9.9% to $167/square foot in September 2020 compared with one year ago.
Closed sales decreased 12.6%, while pending sales increased 35.9% in September 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 month (down from 2 months one year ago). This coupled with a 54.4% drop in housing inventory, despite a 9.2% increase in new listings in September, kept Charlotte’s Ballantyne area/28277 zip code a seller’s market.
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Ballantyne Housing Market Highlights
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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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