Ballantyne isn’t just part of Charlotte. It is an upscale neighborhood, so you know that the prices might be a little on the steep side. Charlotte real estate is booming, but is Ballantyne following the trend throughout the city? Well there is only one way to find out, so let’s take a look at what the Ballantyne real estate market looks like in 2018.
For being an upscale neighborhood, the median home sales price is lower than I expected, sitting right around the $241k mark. The average price per square foot is $136, which is about what I expected in relation to the $241k number. What would you think that the median rent would be for Ballantyne? The figure is an average of $1650 per month.
The median sales price was actually on a downward trend a few months back, but it has been climbing up steadily now and is on the rise to new heights. Considering the health of the market in general on a national level, it is a seller’s market, but a buyer’s market, too. Looking at the chart and other stats, I would say advantage buyer, wouldn’t you?
That shouldn’t make you nervous as a seller, but you might want to be patient. If you can wait to sell, you might should do that. You see, I’m looking at the home values chart like I would a stock chart. The homes are just now back at the levels they we’re year ago and passing them up. They appear to be climbing higher, and so this represents a great opportunity to enjoy appreciation of assets. You will likely see home values continue to rise. You have to decide how you fit into the market forecast, but one thing for sure, you will certainly be interacting with a healthy Ballantyne real estate market.