Ballantyne real estate market in June 2023 saw home sales increase to their highest level since September 2023. Median home sale price increased compared with June 2022 and remained flat compared with the previous month of May. Housing inventory remained low, despite a 14.3% increase in new listings. Days on market declined to just 11 days. List to sale price ratio increased to just over 101.38% in June. All this kept the Ballantyne area a seller’s market in June.
Ballantyne (28277 Zip Code) Real Estate Report: June 2023
BALLANTYNE AREA HOUSING MARKET HIGHLIGHTS
BALLANTYNE HOME SALE PRICES UP YEAR-OVER-YEAR
Median sale price in June 2023 was $550,000, increasing 1.79% from $540,350 in June 2022. The median sale price was flat compared with the previous month of May. The June median sale price was at its highest level compared with June 2022 and June 2021.
Average sale price in June 2023 was $664,419, increasing 10.49% from $602,233 in June 2022 and decreasing 5.59% from $704,826 in May 2023. The June average sale price was at its highest level compared with June 2022 and June 2021.
Average Sale Price Per Square Foot was $250 in June 2023, flat compared with the previous month of May and 4.17% higher than the $240 price per square foot for Ballantyne homes in June 2022.
BALLANTYNE HOMES’ LIST TO SALE PRICE RATIO OVER 100%
Home sellers received 101.38% of list price in final sale price in June 2023. While this was 6.15% less than in June 2022, it was 0.37% higher than in May 2023 and at its highest in over nine months.
BALLANTYNE AVERAGE DAYS ON MARKET AT LOWEST LEVEL IN 9 MONTHS
Average days on market for Ballantyne area homes in June were 11 days, down 42.11% from 19 days in the previous month of May. Average days on market were 6 days higher than in June 2022 and 5 days higher than in June 2021. The June average days on market were at their lowest level since August 2022 when they stood at 10 days.
BALLANTYNE SALES INCREASED IN JUNE 2023 TO THEIR HIGHEST LEVEL SINCE JUNE 2022
The number of properties sold in June 2023 was 103, up 18.39% from 87 homes sold in the previous month of May. Compared with June 2022, the number of properties sold was 15.57% lower. The June 2023 sales were at their lowest level compared with June 2022 (122 sold properties) and June 2021 (150 sold properties).
BALLANTYNE INVENTORY REMAINED LOW IN JUNE
Ballantyne’s inventory of properties for sale in June 2023 was 293, equal to inventory in the previous month of May and 6.69% lower than the 314 properties for sale in June 2022. The housing inventory was lower compared with June 2022 (314 active listings) and June 2021 (296 active listings).
NEW LISTINGS SIGNIFICANTLY DOWN YEAR-OVER-YEAR
The number of new listings in Ballantyne area in June 2023 was 112, up 14.29% from 98 in the previous month of May. New listings were 30.43% lower compared with June 2022. New listings were at their lowest level compared with June 2022 (161 new listings) and June 2021 (156 new listings).
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This Charlotte, North Carolina monthly Ballantynereal 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: