Ballantyne is one of the most sought after suburbs of Charlotte…why? Not only are the homes bigger, the schools newer, the communities larger, it is getting an INSANE makeover right now. Ballantyne was developed about 30 years ago and is about to feel like a whole new town.
Today, we’re going to go through one of the most popular suburban areas in Charlotte, Ballantyne. It’s been 2 years since we’ve gone through Ballantyne, so it’s time to go back and show you what’s changed.
The Ballantyne Real Estate Market: Average Days On Market
Two years ago, average days on market back was 5 days, now it’s 19. Naturally, that would go up because in 2021, interest rates were under 3%, and now we’re pushing 8%. A lot has changed in the overall housing market.
Keep in mind, though, even with 19 days on market in Ballantyne, the Charlotte average day on market right now is 44 days, which is up 38% in the last year. Ballantyne homes are still moving way faster than the average home in Charlotte.
The Ballantyne Real Estate Market: Average Sale Price
Two years ago, the average sale price was $435,000, now it’s $600,000.
The price per square foot in Ballantyne started at $168 per sq.ft. two years ago, and now it’s sitting right on average around $240 per sq.ft. There is a very natural appreciation that’s happened, which was amplified because of the COVID market, but none-the-less, Ballantyne has seen a lot of growth in the last two years.
Looking to Move to Ballantyne?
If you’re looking to move to the Ballantyne area, don’t get discouraged by these numbers. Everything has changed in the last two years across the country, especially in a hot city like Charlotte.
One good thing to think about is how Ballantyne houses actually range anywhere from $400,000 to $4 million and up. So, if you want to live down here and you want access to the good school system, you still have that opportunity without spending a fortune because there’s a huge range in housing prices.
Ballantyne Reimagined
Last time we were in Ballantyne, we talked about a lot of the classic neighborhoods like your Ballantyne Country Clubs and the high growth of some of these very prestigious neighborhoods. But a lot has changed since then, and there is a lot of new stuff that’s coming to Ballantyne that we’re going to go through today.
For example, there’s Ballantyne Reimagined, one of the biggest redevelopment projects in Charlotte in decades. This is going to change the game for Ballantyne, as it’s bringing a mix of commercial and residential to the area.
Then you’ve got the Amphitheater, new breweries and restaurants, as well as new development of apartment and office buildings. Literally everything you can think of is coming here to Ballantyne Reimagined.
Waverly & Rea Farms
Since we touched on Ballantyne Reimagined, we can’t finish the video without talking about Waverly and Rea Farms, two of the biggest new mixed-use developments in the 28277 ZIP code.
These developments are massive, and within them, there are tons of new housing opportunities. It genuinely feels like they’re trying to make Ballantyne into the next South End with all the new spots, restaurants, office buildings, and luxury townhomes coming here.
You have David Weekley, who just finished a huge townhome development, and John Wieland has one right down the street from here. All of these townhomes are within walking distance to Waverly and Rea Farm, so if you move here, you can walk to Starbucks, Chick-fil-A, or any of the local restaurants that have opened their second location here.
Even if you go a little bit further behind the townhomes, you still have single-family opportunities that are walkable to Waverly. This whole area, as you can now see, is exploding, and there is no slowing down in Ballantyne, Waverly, any of these areas down here in the 28277 ZIP code.
Learn More About Ballantyne
If you want to learn more about Ballantyne and what’s going on, contact Charlotte’s to Realtor Andy Griesinger for a free consultation.
Also be sure to subscribe to Andy’s new videos so that you don’t miss the latest and greatest happenings in Charlotte.
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