Ballantyne Real Estate Report: December 2020
Ballantyne remained a seller’s market in December 2020. Months supply of inventory was down (61.5%) compared with December 2019 to 0.5 months supply. Housing inventory was down 59.4% year-over-year, resulting in lower days on market, higher closed and pending sales, and higher home prices.
Ballantyne (28277 Zip Code) Home Sales Report: December 2020
Latest news on the Ballantyne real estate market and what it means for you…
Ballantyne remained a seller’s market in December 2020 due to the continued lack of inventory. Months supply of inventory was down (-59.4%) compared with December 2019 to 0.5 months of housing supply. The 61.5% drop in housing inventory resulted in considerably lower days on market, an increase in closed and pending sales.
Average Ballantyne home sale prices increased 16.5% to $451,287 in December 2020 compared with the same month one year ago. Median home sale prices increased 13.8% to $393,231 in December 2020. Home sellers received a median 99.4% of list price in final sale price (up 2.4% year-over-year).
Ballantyne homes continue to sell quickly with Median Days on Market at just 5 days, down 21 days compared with one year ago. Average Days on Market were 25 days, down 19 days year-over-year. Average Price Per Square Foot increased to $174/square foot in December 2020, up $18/square foot versus one year ago.
Closed sales increased 11.5%, while pending sales increased 50.8% in December year-over-year in the Ballantyne area. Historically low interest rates continue to generate immense buyer demand.
Ballantyne’s months supply of homes remained razor-thin at 0.5 months (down from 1.3 months one year ago). This coupled with a 59.4% drop in housing inventory in December, kept Charlotte’s Ballantyne area/28277 zip code a home seller’s market.
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This Charlotte, North Carolina real estate monthly update for Ballantyne is provided by Nina Hollander and Carolinas Realty Partners with Coldwell Banker Realty, your 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 20+ years.
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