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What Happened In The Indian Trail, NC Housing Market In September 2017

 
September 2017 home sales in Indian Trail, North Carolina area (28079 zip code), which also includes the Towns of Stallings, Hemby, and Lake Park in Union County, continued the trends we've seen throughout the year with sale prices increasing, days on market decreasing, available inventory decreasing, closed and pending sales just barely "hanging on" due to lack of inventory.
 
The average sale price of Indian Trail area homes increased by 6.5% to $255,500 as compared with the same period one year ago. 
 
Average days on market for property listings dropped by 5 days to 40 days from 45 days just one year ago--an 11.1% improvement over the same period last year. Median days on market also dropped by 25.0% to 12 days in September 2017. 
 
Average price per square foot increased by 6.9% to $109/square foot in September 2017 versus the same period in 2016. Pending sales decreased 6.1% in September versus the same month last year, while September closed sales  decreased by 2.2%. No doubt that the lack of inventory contributed to the decrease in pending and closed sales in September 2017.
 
During September 2017, the number of showings until pending contract per listing averaged 16 showings (down 15.8% versus September 2016) and the number of showings per listing averaged 7.9 showings  Given the reduced number ... more

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