Ballantyne remained a seller’s market in December 2019. Both median and average home prices were up significantly, new listings and inventory were down significantly. Months supply of inventory was sharply down compared with December 2018 — down to 1.1 months. Closed sales were up, but pending sales decreased year-over-year, most likely due to low inventory.
Ballantyne Real Estate Report & Housing Market Snapshot: December 2019
Latest news on the Ballantyne real estate market and what it means for you…
Average Ballantyne home sale prices increased 15.5% in December 2019 compared with the same month one year ago. Median home sale prices increased 11.5% in December. Home sellers received 96.7% of list price in final sale price. December was the seventh consecutive month we saw an increase in home sale prices year-over-year.
Ballantyne homes continue to sell quickly with Median Days on Market at 27 days, down 4 days compared with one year ago. Average Days on Market were 45 days. Average Price Per Square Foot increased by $7/square foot to $155 in December 2019 compared with one year ago.
Closed sales increased 22.7%, while pending sales decreased 15.6% in December year-over-year in the Ballantyne area.
Ballantyne’s months supply of homes remained low at 1.1 months (down from 2.2 months one year ago). This coupled with a 42.3% drop in housing inventory and a drop of 15.4% in new listings in December, coupled with it being a holiday month, no doubt impacted pending sales in December and kept Charlotte’s Ballantyne area/28277 zip code housing market a seller’s market.
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This Charlotte, North Carolina real estate monthly update for Ballantyne is brought to you byNina Hollander and Carolinas Realty Partners with Coldwell Banker Residential Brokerage, your Ballantyne area specialists and neighbors and Charlotte metro area residential real estate experts. We’ve been opening doors for Ballantyne area home buyers and sellers for 20+ years and have been your Ballantyne neighbors since 2001.
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