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Indian Trail (28079 Zip Code) Housing Market Update/Video: May 2018
Indian Trail/28079 Zip Code Housing Market Update & Video: May 2018
May 2018 home sales in the Indian Trail, North Carolina area (28079 zip code), which also includes the Towns of Stallings, Hemby Bridge, and Lake Park in Union County, continued the trends we saw throughout 2017 and this year-to-date with sale prices increasing, days on market decreasing, available inventory and new listings decreasing, putting a strain on closed sales.
The average sale price of Indian Trail area homes increased by 5.3% to just over $263,000 as compared with the same period one year ago. Median home sale prices also increased by 6.3%.
Average days on market for property listings dropped by 8 days to 35 days from 44 days just one year ago--an 18.6% improvement over the same period last year. Median days on market also dropped by 23.6% to 10 days in May 2018.
Average price per square foot increased by 6.5% to $114/square foot in May 2018 versus the same period in 2017. Pending sales were essentially flat, down by 0.1% in May versus the same month last year, while May closed sales decreased by 7.0%. No doubt the lack of inventory, which was only 2.3 months, contributed to the lackluster pending and closed sales in May 2018.
During May 2018, the number of showings until pending contract per listing averaged 12 showings and the number ... more
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