Tuesday, Jul. 01, 2014
Ballantyne Area’s Popularity Far Exceeds Nearby Areas, Data Shows
Portions Reprinted from the article in The Charlotte observer by Elisabeth Arriero – www.CharlotteObserver.com
Average monthly move-ins for the last 12 months in Ballantyne is around 446, according to Welcomemat Services.
By The Numbers:
Source: Welcomemat
ZIP Code: 28134 (Pineville, NC):
• Average Monthly Move-ins for 2013: 66
• Owner-occupied dwellings: 2,318
ZIP Code: 28105 (Matthews, NC):
• Average Monthly Move-ins for 2013: 200
• Owner-occupied dwellings: 11,811
ZIP Code: 28226 (South Charlotte by Carmel Road):
• Average Monthly Move-ins for 2013: 227
• Owner-occupied dwellings: 11,368
ZIP Code: 28270 (South Charlotte):
• Average Monthly Move-ins for 2013: 170
• Owner-occupied dwellings: 9,176
ZIP Code: 28277 (Ballantyne):
• Average Monthly Move-ins for 2013: 446
• Owner-occupied dwellings: 18,047
ZIP Code: 29715 (Fort Mill, SC):
• Average Monthly Move-ins for 2013: 135
• Owner-occupied dwellings: 7,504
Does this create more activity for South Charlotte, in general?
The flurry of home buyer activity in Ballantyne’s 28277 ZIP code doesn’t appear to have a spillover effect in neighboring ZIP codes, according to recent real estate data.
In June, Atlanta-based Welcomemat Services released data that showed the Ballantyne area was the second-most-moved-in ZIP code in the country, at least for May 4-31.
The company, which provides information to local businesses that want to reach new residents with direct-mail packets, released a report showing the Ballantyne ZIP code – 28277 – had 594 move-ins for that period.
Average monthly move-ins for the last 12 months in Ballantyne is around 446.
But bordering ZIP codes, including 28134 in Pineville, 28226 near the Arboretum, 28270 near the Promenade, 28105 in Matthews and 29715 in Fort Mill aren’t experiencing the same activity.
Average move-ins over the last 12 months for these areas range from as low as 66 in Pineville to as high as 227 for the Arboretum area, according to Welcomemat.
The average days on the market, which is the number of days a home is for sale in a particular market, also is consistently lower in Ballantyne.
For instance, in 2014, the average days on the market for homes sold was 61 in Ballantyne.
Average days on the market for that same period was 73 in 28270, 72 in 28226, 92 in 28105, 82 in 28134 and 82 in 29715.
What Makes Ballantyne So Special?:
Real estate professionals and urban planning experts don’t dispute that south Charlotte is a popular place to live compared with other parts of the city, especially given the location, the job market and quality of the area schools.
But they cited several factors to explain why 28277 is specifically sought out. Real estate agents said home buyers are requesting to live specifically in Ballantyne and not just the south Charlotte area.
People are drawn to newer homes. While buyers can find a great home in Providence Plantation or Quail Hollow, it’s not likely to be as modern as a Ballantyne Country Club home.
Ballantyne is newer, which is more appealing for people relocating here,
He said there also are a lot of new businesses coming to Ballantyne, including Met Life, a new Publix, Whole Foods and various bank branches.
That helps feed the frenzy,
All of that new construction may help explain the large number of move-ins. After all, with all of those new homes, of course there would be more home-buyer activity,
You pay less per square foot in south Charlotte than in places like Dilworth or Myers Park. You can get a lot more house for your money here.
Another big draw for the Ballantyne area specifically is the nationally recognized schools. Residents living in 28277 are likely to attend Ballantyne, Elon Park, Hawk Ridge and Polo Ridge elementary schools; Community House Middle School and Ardrey Kell Middle School – all of which “are top schools” with high test scores.
Mary Newsom, associate director for Urban & Regional Affairs at UNC Charlotte’s Urban Institute, said people are likely drawn to Ballantyne because it has firmly established a center, which is the arches at Ballantyne Commons Parkway and Johnston Road.
“And while it’s not as cute and lovable as (Plaza Midwood), it’s clearly a center and there are a lot of things you can do there. People like going to a place that feels like it has a place.”
Other than strip malls, there really isn’t much of a center in the nearby ZIP codes, said Newsom.
“I won’t say it’s walkable, but it’s certainly a condensed area where people can find what they’re looking for in terms of restaurants, shopping, golf courses, health clubs, anything that they want to find,” Brown said.
Newsom added that Ballantyne has done a great job of branding the entire area.
“Ballantyne has done a lot to position itself as Ballantyne as opposed to other areas where you have a whole bunch of different names,” she said. “They’ve been able to brand this massive area as Ballantyne.”
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