Ballantyne real estate market in May 2023 saw home sales increase to their highest level since October 2023. Average home prices rose to their highest level in over three years. Housing inventory was at its lowest level since June 2022. New listings remained low. Days on market were just 19 days. List to sale price ratio increased to just over 101% in May to its highest level in some eight months.
Ballantyne (28277 Zip Code) Real Estate Report: May 2023
BALLANTYNE AREA HOUSING MARKET HIGHLIGHTS
BALLANTYNE HOME SALE PRICES
Median sale price in May 2023 was $540,000, increasing 3.96% from $519,425 in April 2023. The median sale price was 1.82% lower than the $550,000 price in May 2022.
Average sale price in May 2023 was $708,998, increasing 21.29% from $584,540 in April 2023 and increasing 11.39% from $636,503 in May 2022.
Average Sale Price Per Square Foot was $250 in May 2023, up 3.31% from $242 in April 2023 and 4.6% higher than the $239 price per square foot for Ballantyne homes in May 2022.
BALLANTYNE HOMES LIST TO SALE PRICE RATIO OVER 100%
Home sellers received 101.01% of list price in final sale price in May 2023. While this was 4.69% less than in May 2022, it was 0.17% higher than in April 2023 and at its highest in over eight months.
BALLANTYNE AVERAGE DAYS ON MARKET LOW
Average days on market for Ballantyne area homes in May were 19 days, up from 14 days in the previous month of April. Average days on market were 10 days higher than in May 2022 and 9 days higher than in May 2021. However you “cut it,” average days on market are low.
BALLANTYNE SALES INCREASED IN MAY 2023 TO THEIR HIGHEST LEVEL SINCE OCTOBER 2022
The number of properties sold in May 2023 was 83, up 6.41% from 78 homes sold in the previous month of April. Compared with May 2022, the number of properties sold was 26.55% lower. The May 2023 sales were at their lowest level compared with May 2022 (113 sold properties) and May 2021 (118 sold properties).
BALLANTYNE INVENTORY REMAINED LOW IN MAY
Ballantyne’s inventory of properties for sale in May 2023 was 289, equal to inventory in the previous month of April and 6.25% higher than the 272 properties for sale in May 2022. The supply of inventory was higher compared with May 2022 (272 active listings), but lower compared with May 2021 (304 active listings). May housing inventory was at its lowest level since June 2022.
NEW LISTINGS DOWN YEAR-OVER-YEAR & MONTH-OVER-MONTH
The number of new listings in Ballantyne area in May 2023 was 97, up 3.19% from 94 in the previous month of April. New listings were 24.22% lower compared with May 2022. New listings were at their lowest level compared with May 2022 (128 new listings) and May 2021 (155 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 Ballantynereal estate report is provided by Nina Hollander and Carolinas Realty Partners with Coldwell Banker Realty, Ballantyne area specialists and neighbors and Charlotte metro area residential real estate experts. We’ve been opening doors for Ballantyne home buyers and sellers for 24+ years.
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