Ballantyne real estate March 2020 remained a home seller’s market. Months supply of inventory was sharply down (by 50%) compared with March 2019 to 1.1 months. Housing inventory was down 46.1% year-over-year, resulting in lower days on market and higher home prices. While closed sales increased, pending sales decreased, no doubt at least partially due to the lack of inventory.
Ballantyne Real Estate March 2020 Highlights
Latest news on the Ballantyne real estate market and what it means for you…
Average Ballantyne home sale prices increased 5.2% in March 2020 compared with the same month one year ago. Median home sale prices increased 2.6% in March. Home sellers received 98.8% of list price in final sale price (up 1.5% year-over-year).
Ballantyne homes continued to sell quickly with Median Days on Market at 8 days, down 17 days compared with one year ago and down 13 days month-over-month. Average Days on Market were 36 days, down 51 days year-over-year and also down 7 days month-over-month. Average Price Per Square Foot increased 8% to $162/square foot in March 2020 compared with one year ago.
Closed sales increased 6.1%, while pending sales decreased 21.4% in March year-over-year in the Ballantyne area. Some of the decrease in lower pending sales can be attributed to low inventory and part, possibly, to the first glimmers of impact from shelter-at-home orders which came into effect in the third week of March.
Ballantyne’s months supply of homes remained low at 1.1 months (down from 2.2 months one year ago). This coupled with a 46.1% drop in housing inventory and a drop of 13.3% in new listings in March, kept Charlotte’s Ballantye area/28277 zip code a seller’s market.
Want to know what this would mean for your family if you decide to buy or sell a Ballantyne home?
And don’t miss out on the newest home listings inBallantyne.Sign up to receive email notification of homes as soon as they come on the market. You can customize your search to your specific needs and always be the first to know what’s coming on the market in the Charlotte area.
Wondering what your Ballantyne home is worth in today’s market? Find out by clicking on the picture below.
If you’re thinking about selling your Ballantyne area home, let’s get together and discuss the supply conditions in your Ballantyne neighborhood and how we can assist you in gaining access to buyers who area ready, willing, and able to buy now.
Contact meif you’d like to receive our Neighborhood Analyzer Report on a monthly basis so you can keep track of home sales activity in your neighborhood.
Note: If you don’t see your subdivision or complex, or the data looks incomplete, it’s because there weren’t enough properties sold in a given year.
I’m happy to provide this information with no obligation on your part.
Whether You’re Buying Or Selling A Ballantyne Home…
… The Right Broker Makes All The Difference!
This Charlotte, North Carolina real estate monthly update for Ballantyne is provided byNina Hollander with Coldwell Banker Realty, Ballantyne area specialist and Greater Charlotte residential real estate expert. I’ve been opening doors for Ballantyne area home buyers and sellers since 1999 and have been your Ballantyne neighbors since 2001.
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: