Ballantyne real estate market in March 2023 saw home sales increase to their highest level since October 2022. Average days on market were at their lowest since September 2022. Home prices increased to their highest levels since November 2022. List to sale price ratio also at its highest level since October 2022.
Ballantyne (28277 Zip Code) Real Estate Report: March 2023
BALLANTYNE AREA HOUSING MARKET HIGHLIGHTS
BALLANTYNE HOME SALE PRICES INCREASE MONTH-OVER-MONTH & YEAR-OVER-YEAR
Median sale price in March 2023 was $571,100, up 34.4% from $425,000 in February 2023 and up 13.2% from $504,500 in March 2022. The March 2023 median sale price was at the highest level compared with March 2022 and March 2021.
Average sale price in March 2023 was $584,099, up 20.1% from $486,363 in February 2023 and up 8.32% from $539,244 in March 2022. The March 2023 average sale price for Ballantyne area homes was at its highest level compared with March 2022 and March 2021.
Average Sale Price Per Square Foot was $233 in March 2023, essentially flat compared with the previous month of February 2023. Price per square foot in March 2023 was 3.1% higher than in March 2022 when it was $226/square foot.
BALLANTYNE HOMES LIST TO SALE PRICE RATIO DECREASED YEAR-OVER-YEAR, BUT INCREASED MONTH-OVER-MONTH
Home sellers received 99.17% of list price in final sale price in March 2023. While this was 5.7% less than in March 2022, it was 1.29% higher than in February 2023 and higher than in the months of November through February.
BALLANTYNE AVERAGE DAYS ON MARKET AT THEIR LOWEST LEVEL SINCE SEPTEMBER 2023
Average days on market for Ballantyne area homes in March were 18 days, down 64% from 50 days in the previous month of February. Average days on market were 7 days higher than in March 2022 and 4 days lower than in March 2021. The average days on market were at their lowest level in five months in March 2023.
BALLANTYNE SALES INCREASED IN MARCH 2023 TO THEIR HIGHEST LEVEL SINCE OCTOBER 2023
The number of properties sold in March 2023 was 69, up 43.75% from 48 homes sold in each of the two the previous months of February and January. Compared with March 2022, the number of properties sold was 32.4% lower. The March 2023 sales were at their lowest level compared with March 2022 (102 sold properties) and March 2021 (115 sold properties).
BALLANTYNE INVENTORY REMAINED LOW IN MARCH | NEW LISTINGS DOWN YEAR-OVER-YEAR
Ballantyne’s inventory of properties for sale in March 2023 was 298, up 2.76% from 290 properties in the previous month of March and 13.31% higher than the 263 properties for sale in March 2022. The months supply of inventory was at its highest level compared with March 2022 (263 active listings) and March 2021 (283 active listings).
The number of new listings in Ballantyne area in March 2023 was 107, up 62.12% from 66 in the previous month of February. New listings were 18.32% lower compared with March 2022. New listings were at their lowest level compared with March 2022 (131 new listings) and March 2021 (90 new listings).
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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 22+ years.
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