Ballantyne Real Estate August 2023
Ballantyne Real Estate Market: August 2023
Ballantyne real estate market in August 2023 saw home sale prices decline year-over-year and month-over-month with the exception of the average sale price, which increased year-over-year. The list to sale price ratio remained over 100%. Days on market of 10 days were at their second lowest level in 12 months. Sales were down due to lack of inventory and new listings. New listings were at their lowest level since February 2023.
BALLANTYNE AREA HOUSING MARKET HIGHLIGHTS
BALLANTYNE HOME SALE PRICES SOFTENED
Median sale price in August 2023 was $527,450, declining 5.9% from $560,500 in August 2022. The median sale price was down 13.46% from $609,500 in the previous month of July.
Average sale price in August 2023 was $678,715, increasing 4.25% from $599,189 in August 2022 and decreasing 7.3% from $673,841 in July 2023. The July average sale price was at its highest level compared with June 2022 and June 2021.
Average Sale Price Per Square Foot was $248 in August 2023, up 1.64% compared with the previous month of July and 6.44% higher than the $233 price per square foot for Ballantyne homes in August 2022.
BALLANTYNE HOMES’ LIST TO SALE PRICE RATIO OVER 100%
Home sellers received 100.92% of list price in final sale price in August 2023. The list to sale price ratio was flat compared with August one year ago and 1.65% lower than in the prior month of July.
BALLANTYNE AVERAGE DAYS ON MARKET AT SECOND LOWEST LEVEL IN 12 MONTHS
Average days on market for Ballantyne area homes in August were 10 days, up from 8 days in the previous month of July. Average days on market were flat compared with August 2022 and 2 days higher than in August 2021.
BALLANTYNE SALES DECLINED YEAR-OVER-YEAR & MONTH-OVER-MONTH
The number of properties sold in August 2023 was 82, down 18% from 100 homes sold in the previous month of July. Compared with August 2022, the number of properties sold was 19.61% lower. August 2022 closed sales were 102. August 2021 closed sales were 140.
BALLANTYNE INVENTORY AT ITS LOWEST LEVEL SINCE MAY 2022
Ballantyne’s inventory of properties for sale in August 2023 was 286, down 2.39% from 293 properties in the previous month of July and 22.91% lower than the 371 properties for sale in August 2022. The housing inventory was at its lowest level compared with August 2022 (371 active listings) and August 2021 (300 active listings). This was the fourth consecutive month that housing inventory declined in Ballantyne.
NEW LISTINGS SIGNIFICANTLY DOWN YEAR-OVER-YEAR & MONTH-OVER-MONTH
The number of new listings in Ballantyne area in August 2023 was 70, down 15.66% from 83 in the previous month of July. New listings were 43.09% lower compared with August 2022. New listings were at their lowest level compared with August 2022 (123 new listings) and August 2021 (131 new listings). New listings were also at their lowest level since February 2023.
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This Charlotte, North Carolina monthly Ballantyne real estate report is provided by Nina Hollander with Coldwell Banker Realty, Ballantyne area specialist and neighbor and Greater Charlotte residential real estate expert. I’ve been opening doors for Ballantyne home buyers and sellers for 24+ 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 why experience matters and how:
“The Right Broker Makes All The Difference.”
