A new study shows that Charlotte is home to one of the fastest-growing zip codes in the entire country. According to the study, from Welcomemat Services, the 28277 zip code of Ballantyne is the second-most moved-to area from May 4 to May 31.
But why are so many people deciding to make the south Charlotte neighborhood home?
A lot of the growth comes down to jobs. Ballantyne is home to one of the largest corporate parks in the nation.
However, many people WBTV spoke to just prefer the suburbs to the big city. “You’re close to everything but you’re not crammed into downtown,” one resident said.
Realtor Thomas Elrod says the Ballantyne housing market is booming.
“There was three-month supply of homes in the 28277 zip code, and we’re down to 2.1 month supply,” Elrod said, adding that it took about 108 days for a house to sell two years ago, “Now down to about 60.”
Elrod credits the spike to people like Phil Grace, who moved to Ballantyne from Chicago.
“The price of living is so much more reasonable,” Grace told WBTV. “Our house that we sold in Chicago was a third of the size of the house here and it cost the same.”
“The folks that are coming from up north they’re getting twice the square footage for half the price,” Elrod said.
But people like Grace say it’s not just about the price, it’s also about the southern charm.
“In Chicago all the kids just called me ‘Phil.’ Here, I’m ‘Mr. Phil,’ so I think there’s a little more respect.”
Elrod added that it’s getting difficult to find a home in Ballantyne. Many buyers are coming to the table pre-approved and they’re paying cash.