Home sales in Ballantyne were pretty flat. Only 13 homes in the Ballantyne area sold in July 2010. Home prices ranged from $155,000 to $890,800. The average price was $366,431 for 2973 square feet and was on the market an average of 155 days.
Compare this to the same time period last year:
66 homes sold – prices ranged from $94,500 to $760,000. The average price was $306,000, average square feet was 2673and the average days on market were 66 days.
Compare this to Charlotte home sales. We received this information fromtechnology guru, Dan Richardson of Davis-Farrell:
July numbers are in, and even with lower post-tax-credit activity, 2010 is making 2009 look more and more like the true “bottom” in metro Charlotte.
Compared to 2009, in 2010, 200 more homes are selling each month and the average price is up about 4% ($208k, up from $200k). This is good news, and hopefully any hesitant buyers will start to leave the sidelines…
So, why do Charlotte home sales look better than Ballantyne’s home sales? There are many factors but the primary reason can be found in the second graph:
The average price of homes sold in Charlotte was between $200,000 – $210,000. Ballantyne’s average price of homes soldwas $306,000.
Out of the 66 homes in July 2010 in Ballantyne there were 49 homes above $210,000! This price point is not moving as quickly as the majority of homes sold in Charlotte. The good news is home prices are inching up in our direction.
Would you like a free Comparative Market Analysis of your home? Email me at Lynn@LynnJohnsonRealtor.com and I will be happy to send you one! Or check out my other website!
