Ballantyne Real Estate May 2024

Ballantyne in Charlotte, NC Housing Market Update for May 2024

 

 

Ballantyne real estate May 2024 experienced a strong month with home sales prices up both month-over-month and year-over-year. List to sale price ratio was just over 102%. Closed sales increased 1.08% from the previous month of April and 8.05% from May one year ago. Days on market remained low at just 10 days. Housing inventory increased almost 11% from the one month ago and almost 8% from one year ago.  Inventory was at its highest level since November 2022. New listings increased to their highest level since July 2022. With just over three months of inventory at 3.09 months, Charlotte’s Ballantyne area remained a home seller’s market.

 

BALLANTYNE REAL ESTATE MARKET TRENDS MAY 2024

Ballantyne area in Charlotte, NC housing market trends in May 2024

 

BALLANTYNE HOME SALE PRICES STRONG

Median sale price in May 2024 was $692,750, up 8.24% from $640,000 in April 2024. The median sale price also increased 27.11% from $545,000 in April 2023. The May 2024 median home sale price was at its highest level compared with May 2023 and 2022.

 

Average sale price in May 2024 was $811,578, up 11.39% from $728,81 in April 2024. The average sale price was 15.15% higher than $704,826 in May 2023. The May 2024 average home sale price was at its highest level compared with May 2023 and 2022.

 

Average Sale Price Per Square Foot was $276 in May 2024, up 4.15% compared with the previous month of April and 10.4% higher than the $250 price per square foot for Ballantyne homes in May 2023. The April 2024 price per square foot was at its highest level in the past three years.

 

 

BALLANTYNE HOMES’ LIST TO SALE PRICE RATIO JUST OVER 102%

The list to sale price ratio of 102.28% in May 2024 increased from 101.94% in the previous month of April. The list to sale price ratio increased from 101.04% in May one year ago.

 

 

BALLANTYNE AVERAGE DAYS ON MARKET REMAINED LOW

Average days on market for Ballantyne area homes in May were 10 days, up 3 days from April’s 7 days.  Average days on market were 9 days lower (down 47.37%) than in May 2023, but one day higher than in May 2022. 

 

 

BALLANTYNE SALES UP A FOURTH CONSECUTIVE MONTH

The number of properties sold in May 2024 increased to 94, up 1.08% from 93 homes sold in the previous month of April. Compared with May 2023, the number of properties sold was 8.05% higher. May 2023 closed sales were 87. May 2022 closed sales were 113.

 

 

BALLANTYNE INVENTORY INCREASED A THIRD CONSECUTIVE MONTH

Ballantyne’s inventory of properties for sale in May 2024 was 290, up 10.69% from 263 properties in April 2024 and 7.81% higher than the 269 properties for sale in May 2023. The number of properties for sale were higher than the 250 properties on the market in May 2022. 

 

With 3.09 months of inventory (up from 2.79 months one month ago), Ballantyne area remained in home seller “territory” in May 2024.

 

 

NEW LISTINGS INCREASED MONTH-OVER-MONTH & YEAR-OVER-YEAR

The number of new listings in Ballantyne area in May 2024 was 134, increasing 45.65%  from 92 in the previous month of April. New listings were 35.35% higher than in May 2023, which had 99 new listings. Compared with May 2022, new listings were up by 6 properties in 2024. April 2024 listings were at their highest level compared with May 2023 and 2022. May 2024 listings were also at their highest level since July 2022, which saw 143 new listings.

 

Want to know what this would mean for your family if you decide to buy or sell a Ballantyne home?

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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:

 “The Right Broker Makes All The Difference.”

 

 

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

Ballantyne Real Estate Report: June 2023     Ballantyne Real Estate Report: May 2023

   

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