Ballantyne remained a seller’s market in May 2020. Months supply of inventory was sharply down (47.8%) compared with May 2019 to 1.2 months. Housing inventory was down 47.1% year-over-year, resulting in much lower days on market and higher home prices. COVID-19 restrictions contributed to lack of inventory and lower closed and pending sales in May.
COVID-19 impacted Charlotte real estate sales significantly in April 2020. Year-over-year closed and pending sales, new listings, inventory, housing affordability, days on market, months supply of homes, were all down. Meantime, days on market dropped and home prices increased — essentially due to lack of inventory combined with buyer demand. Home showings were down more than 50% due to COVID-19 restrictions.
Ballantyne remained a seller’s market in April 2020. Months supply of inventory was sharply down (by 42.9%) compared with April 2019 to 1.2 months. Housing inventory was down 41.4% year-over-year, resulting in much lower days on market and higher home prices. COVID-19 restrictions contributed to lack of inventory and lower closed and pending sales in April.
Ballantyne remained a seller’s market in March 2020. Months supply of inventory was sharply down (by 50%) compared with March 2019 to 1.1 months. Housing inventory was down 46.1% year-over-year, resulting in lower days on market and higher home prices. While closed sales increased, pending sales decreased, no doubt at least partially due to the lack of inventory.
Charlotte region ended March 2020 a seller’s market with inventory remaining extremely tight and the months supply of housing dropping 32% to just 1.7 months of inventory. Year-over-year home prices increased, days on market decreased, inventory decreased, closed sales increased. New listings increased marginally by 1.8%. A small decrease in pending sales might be a harbinger of things to come as shelter-in-place orders reduce market activity due to COVID-19.
Charlotte region ended February 2020 a seller’s market with inventory remaining extremely tight and the months supply of housing dropping 40% to just 1.5 months of inventory. Year-over-year home prices increased, days on market decreased, inventory decreased, closed and pending sales increased. New listings increased marginally by 2.2%. Housing affordability index continued to decrease, as well.
Ballantyne remained a seller’s market in February 2020. Months supply of inventory was sharply down compared with February 2019 — down to under one month. Housing inventory was down 55.5% year-over-year, resulting in lower days on market. While pending sales increased, closed sales decreased, no doubt due to the lack of inventory.
Charlotte region ended the first month of 2020 as a seller’s market with inventory remaining extremely tight and the months supply of housing dropping 36% to just 1.6 months. Year-over-year home prices increased, days on market decreased, inventory decreased, new listings decreased. Housing affordability index continued to decrease, as well.
Ballantyne remained a seller’s market in January 2020. Both median and average home prices were up significantly, new listings and inventory were down significantly. Months supply of inventory was sharply down compared with January 2019 — down to just 1 month. Closed and pending sales both increased in the first month of the year.
Charlotte region remained a seller’s market in December 2019 with inventory remaining extremely tight and the months supply of housing dropping 29.2% to just 1.7 months. Year-over-year home prices increased, days on market decreased, inventory decreased despite new listings increasing slightly. Housing affordability index continued to decrease, as well.
