The Charlotte luxury home market, homes priced above $500,000, continues to work thru its’ supply of available homes, and Ballantyne Country Club is no different.

In Ballantyne Country Club, there have been 12 home closings in 2011 thru April 30; that compares with 16 closings during the same time period in 2010. However, there are some bright spots. The average Days On Market is down 28% from 163 DOM in 2010 to 117 DOM in 2011. Homes are also selling for an average of 94.7% of list price in 2011 compared to 92.2% thru the same period last year.

There are currently 41 homes for sale in Ballantyne ranging in price from $539,900 – $4,950,000 with an average list price of $1,130,143. “Average” prices can sometimes get distorted because of a few homes priced “out of the norm” and that is the case here. The ‘Median” list price in Ballantyne is $839,500 which is a better representation of where the current home market here is.

The bottom line is homes in Ballantyne are priced more accurately today than they were one year ago and they are selling quicker and for a greater percentage of list price than they were one year ago.

Cheers!

Ben Bowen