Ballantyne Real Estate January 2024

Ballantyne real estate January 2024 saw the median home sale price decline year-over-year and month-over-month. Average sale price declined from one month ago, but increased over January one year ago. The list to sale price ratio held steady at almost 99% and increased from one year ago.  Homes sold in just under one month, but hit the highest level of days on market since February 2023.  Closed sales were at their lowest level in three years. Inventory of homes declined month-over-month and year-over-year. New listings increased after a three year low in the previous month, but were still at their second lowest level in 12 months.

 

 

BALLANTYNE AREA HOUSING MARKET HIGHLIGHTS

 

Charlotte's Ballantyne area (28277 zip code) housing market trends in January 2024

 

BALLANTYNE HOME SALE PRICES MIXED

Median sale price in January 2024 was $465,000 down 5.78% from $493,500 in January 2023. The median sale price also declined 18.78% from $572,500 in December 2023. The December 2023 median home sale price was at its highest level compared with December 2022 and December 2021. As a result, it’s hard to say how much of the month-over-month decline was due to the price mix of homes sold and not due to a significant decline in Ballantyne home values.

 

Average sale price in January 2024 was $567,511, declining 5.71% from $601,900 in December 2023. The average sale price was 11.98% higher than $506,808 in January 2023. The January 2024 average home sale price was at its highest level compared with January 2023 and January 2022.

 

Average Sale Price Per Square Foot was $240 in January 2024, down 2.38% compared with the previous month of December and 9.09% higher than the $220 price per square foot for Ballantyne homes in January 2023.

 

 

BALLANTYNE HOMES’ LIST TO SALE PRICE RATIO HOLDING STEADY

Home sellers received 98.89% of list price in final sale price in January 2024. The list to sale price ratio was slightly lower than in the previous month and up from January 2023 when it was 97.45%.

 

 

BALLANTYNE AVERAGE DAYS ON MARKET UP

Average days on market for Ballantyne area homes in January were 29 days, up 17 days from December. This was the highest number of days on market since February 2023 which saw 50 days on market.  Average days on market were 12 days lower than in January 2023, but 14 days higher than in January 2022. Nonetheless, an average days on market of 29 days shows Ballantyne homes sold relatively quickly in the first month of 2024.

 

 

BALLANTYNE SALES DOWN

The number of properties sold in January 2024 declined to 35, down 41.67% from 60 homes sold in the previous month of December. This was the lowest number of sales in Ballantyne in the past three years. Compared with January 2023, the number of properties sold was 27.08% lower. January 2023 closed sales were 48. January 2022 closed sales were 77.

 

 

BALLANTYNE INVENTORY DECLINED MONTH-OVER-MONTH & YEAR-OVER-YEAR

Ballantyne’s inventory of properties for sale in January 2024 was 248, down 6.77% from 266 properties in December 2023 and 7.18% lower than the 269 properties for sale in January 2023. The number of properties for sale were higher than the 232 properties on the market in January 2022. The January 2024 months supply of inventory increased to 7.09 months.

 

 

NEW LISTINGS INCREASED AFTER REACHING THEIR LOWEST LEVEL IN MORE THAN THREE YEARS ONE MONTH AGO

The number of new listings in Ballantyne area in January 2024 was 48, increasing 54.84%  from 31 in the previous month of December. New listings were 2.04% lower than in January 2023. The January 2024 new listings were at their lowest level compared with January 2023 (49 new listings) and January 2022 (63 new listings). Despite the increase in January 2024, this was the second lowest level of new listings in Ballantyne in 12 months.

 

Want to know what this would mean for your family if you decide to buy or sell a Ballantyne home?

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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 since 1999.

 

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.”

 

Ballantyne Real Estate Report: December 2023     Ballantyne Real Estate Report: November 2023

Ballantyne Real Estate Report: October 2023    Ballantyne Real Estate Report: September 2023

Ballantyne Real Estate Report: August 2023     Ballantyne Real Estate Report: July 2023

Ballantyne Real Estate Report: June 2023     Ballantyne Real Estate Report: May 2023

Ballantyne Real Estate Report: April 2023    Ballantyne Real Estate Report: March 2023

Ballantyne Real Estate Report: February 2023    Ballantyne Real Estate Report: January 2023

 

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