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What Happened In The Indian Trail, NC Housing Market In October 2017?

 
October 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 decreasing due to lack of inventory.
 
The average sale price of Indian Trail area homes increased by 5.0% to just under $255,000 as compared with the same period one year ago. 
 
Average days on market for property listings dropped by 4 days to 40 days from 44 days just one year ago--an 9.1% improvement over the same period last year. Median days on market also dropped by 20.0% to 12 days in October 2017. 
 
Average price per square foot increased by 6.8% to $110/square foot in October 2017 versus the same period in 2016. Pending sales decreased 6.1% in October versus the same month last year, while October closed sales  decreased by 4.7%. No doubt the lack of inventory contributed to the decrease in pending and closed sales in October 2017.
 
During October 2017, the number of showings until pending contract per listing averaged 16 showings (down 15.8% versus October 2016) and the number of showings per listing averaged 8.0 showings (down 3.9% versus the same time frame ... more

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