Ballantyne Real Estate January 2021
Ballantyne real estate January 2021 remained a home seller’s market. Months supply of inventory was down (54.5%) compared with January 2020 to 0.5 months supply. Housing inventory was down 60.5% year-over-year, resulting in lower days on market, higher home prices with sellers receiving a median 100% of asking price in final sale price.
BALLANTYNE REAL ESTATE JANUARY 2021 HIGHLIGHTS
Latest news on the Ballantyne real estate market January 2021 and what it means for you…
Ballantyne remained a seller’s market in January 2021 due to the continued lack of inventory. Months supply of inventory was down (-54.5%) compared with January 2020 to 0.5 months of housing supply. The 60.5% drop in housing inventory resulted in considerably lower days on market, an increase in closed sales.
Average Ballantyne home sale prices increased 20.1% to $423,598 in January 2021 compared with the same month one year ago. Median home sale prices increased 13.9% to $362,000 in January 2021. Home sellers received a median 100% of list price in final sale price (up 3.4% year-over-year).
Ballantyne homes continue to sell quickly with Median Days on Market at just 5 days, down 30 days compared with one year ago. Average Days on Market were 17 days, down 29 days year-over-year. Average Price Per Square Foot increased to $168/square foot in January 2021, up $11/square foot versus one year ago.
Closed sales increased 12.7%, while pending sales decreased 3.7% in January year-over-year in the Ballantyne area. Historically low interest rates continue to generate immense buyer demand. The drop in pending sales is not reflective of a lack of demand for Ballantyne area homes. It’s reflective of the lack of inventory. New listings decreased 14% year-over-year.
Ballantyne’s months supply of homes remained razor-thin at 0.5 months (down from 1.1 months one year ago). This coupled with a 60.5% drop in housing inventory in January, kept Charlotte’s Ballantyne area/28277 zip code a home seller’s market.
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BALLANTYNE REAL ESTATE SNAPSHOT
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This Charlotte, North Carolina Ballantyne real estate January 2021 update is provided by Nina Hollander with Coldwell Banker Realty, Ballantyne area specialist, neighbors and Greater Charlotte residential real estate expert. I’ve been opening doors for Ballantyne home buyers and sellers since 1999.
If you’re considering selling or purchasing a home in the Greater Charlotte 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.”
