Ballantyne Real Estate July 2024
Ballantyne real estate July 2024 saw home prices decline. List to sale price ratio was just under 101%. Ballantyne home buyers did not have many opportunities to negotiate on price. Sales declined slightly in July after 5 consecutive months of increases. Days on market remained very low at 10 days. Housing inventory increased a fifth consecutive month to its highest level since November 2022. New listings declined a third consecutive month, but were still higher than in July one year ago. With just over three months supply of inventory at 3.17 months, Charlotte’s Ballantyne area remained a home seller’s market.
BALLANTYNE REAL ESTATE MARKET TRENDS July 2024
BALLANTYNE HOME SALE PRICES MOSTLY DOWN
Median sale price in July 2024 was $598,000, down 6.85% from $642,000 in June 2024. The median sale price declined 1.89% from $609,500 in July 2023. The decline in the month-to-month median sale price could be well be attributed to the sale price mix of homes in July and not to a decline in the value of Ballantyne homes.
Average sale price in July 2024 was $686,625, down 11.38% from $774,800 in June 2024. The average sale price was 1.9% higher than $673,841 in July 2023. The July 2024 average home sale price was at its highest level compared with July 2023 and 2022. As with the median sale price, the decline month-over-month in the average sale price is due more to the price mix of homes sold than to a decline in the value of Ballantyne homes.
Average Sale Price Per Square Foot was $266 in July 2024, down 1.48% compared with the previous month of June and 9.02% higher than the $244 price per square foot for Ballantyne homes in July 2023.
BALLANTYNE HOMES LIST TO SALE PRICE RATIO JUST UNDER 101%
The list to sale price ratio of 100.84% in July 2024 declined from 101.48% in the previous month of June. The list to sale price ratio declined from 102.57 in July one year ago.
BALLANTYNE AVERAGE DAYS ON MARKET REMAINED LOW
Average days on market for Ballantyne area homes in July were 10 days, down 3 days from June’s 13 days. Average days on market were 2 days higher than in July 2023 and 4 days higher than in July 2022.
BALLANTYNE SALES DECLINE SLIGHTLY AFTER 5 CONSECUTIVE MONTHS OF INCREASES
The number of properties sold in July 2024 declined to 99, down 1.98% from 101 properties sold in the previous month of June. Compared with July 2023, the number of properties sold was 1% lower. July 2023 sales stood at 100. July 2022 sales stood at 96.
BALLANTYNE INVENTORY INCREASED A FIFTH CONSECUTIVE MONTH
Ballantyne’s inventory of properties for sale in July 2024 was 314, up 2.28% from 307 properties in June 2024 and 15.87% higher than the 271 properties for sale in July 2023. The number of properties for sale were lower than the 329 properties for sale in July 2022. July’s inventory was at its highest level since November 2022.
With 3.17 months supply of inventory (flat compared with one month ago), Ballantyne area remained in home seller “territory” in July 2024.
NEW LISTINGS DOWN A THIRD CONSECUTIVE MONTH
The number of new listings in Ballantyne area in July 2024 was 96, declining 24.41% from 127 in the previous month of June. New listings were 15.66% higher than in July 2023, which had 83 new listings. Compared with July 2022, new listings down by 47 properties in 2024.
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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:
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
