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.
Ballantyne Real Estate Report: February 2020
Latest news on the Ballantyne real estate market and what it means for you…
Average Ballantyne home sale prices decreased 3.3% in February 2020 compared with the same month one year ago. Median home sale prices decreased 4.1% in February. Home sellers received 97.8% of list price in final sale price. The small decrease in average and median home prices is less reflective of a decrease in Ballantyne home values than of the price mix of homes sold in the month of February.
Ballantyne homes continue to sell quickly with Median Days on Market at 21 days, down 12 days compared with one year ago and down 15 days month-over-month. Average Days on Market were 43 days, down 17 days year-over-year and also down month-over-month. Average Price Per Square Foot increased 3.4% to $154/square foot in February 2020 compared with one year ago.
Closed sales decreased 16.3%, while pending sales increased 14% in February year-over-year in the Ballantyne area.
Ballantyne’s months supply of homes remained low at 0.8 months (down from 2.1 months one year ago). This coupled with a 55.5% drop in housing inventory and a drop of 1.6% in new listings in February, kept Charlotte’s Ballantyne area/28277 zip code housing market a seller’s market and no doubt contributed to the drop in closed sales.
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This Charlotte, North Carolina real estate monthly update for Ballantyne is brought to you byNina Hollander and Carolinas Realty Partners with Coldwell Banker Residential Brokerage, your Ballantyne area specialists and neighbors and Charlotte metro area residential real estate experts. We’ve been opening doors for Ballantyne area home buyers and sellers for 20+ years and have been your Ballantyne neighbors since 2001.
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