Ballantyne real estate market in July 2023 saw home sale prices increase significantly year-over-year and month-over-month with a list to sale price ratio of 102.6%. Median sale price was up 32.9% compared with July one year ago. Days on market of 8 days were at their lowest level in one year. Sales were down due to lack of inventory and new listings. New listings were at their lowest level since February 2023. With 2.96 months supply of inventory, Ballantyne area home sellers were in the driver’s seat in July.
BALLANTYNE AREA HOUSING MARKET HIGHLIGHTS
BALLANTYNE HOME SALE PRICES UP YEAR-OVER-YEAR & MONTH-OVER-MONTH
Median sale price in July 2023 was $637,500, increasing 32.86% from $479,825 in July 2022. The median sale price was 13.84% from $560,000 in the previous month of June. The July median sale price was at its highest level compared with July 2022 and July 2021.
Average sale price in July 2023 was $678,715, increasing 24.37% from $545,707 in July 2022 and increasing 1.93% from $665,833 in June 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 $244 in July 2023, down 2.01% compared with the previous month of June and 2.52% higher than the $238 price per square foot for Ballantyne homes in July 2022.
BALLANTYNE HOMES’ LIST TO SALE PRICE RATIO OVER 102%
Home sellers received 102.58% of list price in final sale price in July 2023. The list to sale price ratio was flat compared with July one year ago and 1.82% higher than in the prior month of June.
BALLANTYNE AVERAGE DAYS ON MARKET AT LOWEST LEVEL IN 12 MONTHS
Average days on market for Ballantyne area homes in July were 8 days, down 27.27% from 11 days in the previous month of June. Average days on market were 2 days higher than in July 2022 and 3 days lower than in July 2021. The July average days on market were at their lowest level since July 2022 when they stood at 6 days.
The number of properties sold in July 2023 was 98, down 13.27% from 113 homes sold in the previous month of June. Compared with July 2022, the number of properties sold was 2.08% higher. July 2022 closed sales were 96. July 2021 closed sales were 141.
BALLANTYNE INVENTORY REMAINED LOW IN JULY
Ballantyne’s inventory of properties for sale in July 2023 was 290, down 2.36% from 297 properties in the previous month of June and 17.61% lower than the 352 properties for sale in July 2022. The housing inventory was at its lowest level compared with July 2022 (352 active listings) and July 2021 (313 active listings). At 2.96 months supply of inventory, Ballantyne area remained a home seller’s market.
NEW LISTINGS SIGNIFICANTLY DOWN YEAR-OVER-YEAR & MONTH-OVER-MONTH
The number of new listings in Ballantyne area in July 2023 was 83, down 27.19% from 114 in the previous month of June. New listings were 41.96% lower compared with July 2022. New listings were at their lowest level compared with July 2022 (143 new listings) and July 2021 (144 new listings).
Want to know what this would mean for your family if you decide to buy or sell a Ballantyne home?
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: