What Happened In Indian Trail, NC's Housing Market In July 2017?

By
Real Estate Agent with Coldwell Banker Residential Brokerage

Indian Trail, NC Housing Market Update September 2016

 

July 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 positive trends we've seen since the year started with sale prices increasing, days on market substantially decreasing, available inventory decreasing, closed and pending sales barely hanging on due to lack of inventory.

 

The average sale price of Indian Trail area homes increased by 6.5% to just under $251,000 as compared with the same period one year ago. 

 

Average days on market for property listings dropped by 5 days to 42 days from 47 days just one year ago--a 10.6% improvement over the same period last year. Median days on market also dropped by 27.8% to 13 days in July 2017. 

 

Average price per square foot increased by 6.9% to $108/square foot in July 2017 versus the same period in 2016. Pending sales increased slightly by 0.9% in July versus the same month last year, while July closed sales decreased by 1.4%. No doubt that the lack of inventory contributed to the anemic increase in pending sales in July 2017 as well as the decrease in closed sales during July.

 

During July 2017, the number of showings until pending contract per listing averaged 16 showings (down 20.0% versus July 2016) and the number of showings per listing averaged 7.8 showings  Given the reduced number of available homes for sale, it's not surprising that those homes listed get less "foot traffic" prior to going under contract as homes are selling so much more quickly.

 

The median percent of original list price that sellers received for their homes was up 0.4% compared with last year at 98.5%, showing minimal negotiating room for Indian Trail/Stallings area homes.

 

New listings decreased 3.6% versus July 2016 adding additional strain to a high demand market hungry for more inventory. Indian Trail area's months supply of homes stood at 2.4 months (down 11.1% versus July 2016). 

 

Without doubt, it continues to be very much a seller's market in the 28079 zip code and a very competitive environment for home buyers in the Indian Trail areaThe underlying issue to maintaining the pace of 2016 and the first half of 2017 throughout the second half of this year, will be to have homes to sell (and it's reasonable to assume homes will continue to sell for more and sell more quickly without an increase in inventory). 

 

 

Indian Trail/Stallings Local Housing Market Update - July 2017

 

 

 

 

 

 

 

 

 

SEARCH ALL INDIAN TRAIL, NORTH CAROLINA HOMES HERE

 

WONDERING WHAT YOUR INDIAN TRAIL/STALLINGS HOME IS WORTH?

 

 

 PREVIOUS INDIAN TRAIL, NORTH CAROLINA HOUSING MARKET UPDATES:

Indian Trail Housing Market Update, June 2017

Indian Trail Housing Market Update: May 2017

Indian Trail Housing Market Update: April 2017 

 Indian Trail Housing Market Update: March 2017

Indian Trail Housing Market Update: February 2017 

Indian Trail Housing Market Update: January 2017 

Indian Trail Housing Market Update: December 2016 

Indian Trail Housing Market Update: November 2016 

Indian Trail Housing Market Update: October 2016

Indian Trail Housing Market Update: September 2016

 

 

This Charlotte, North Carolina real estate monthly update for Indian Trail and Stallings, NC in the 28079 zip code is brought to you by Nina Hollander and Carolinas Realty Partners, RE/MAX Executive, your Charlotte metro area residential real estate experts and Indian Trail specialists.. 

 

If you are considering selling or purchasing a home in the Charlotte metro area, I would love an opportunity to earn your business, exceed your expectations, and to prove to you that:

 "The Right Broker Makes All The Difference."

 

 

Posted by

 

SEARCH ALL CHARLOTTE METRO AREA HOMES HERE

 

 Nina Hollander, RE/MAX Broker, Realtor

 

 

 

 

 

 

Nina Hollander

Broker, Realtor, MBA, GRI, ABR, SRES, CDPE, SFR, SPS, CMRS
Carolinas Realty Partners with Coldwell Banker Residential Brokerage
Direct: 704-779-0813
Website: www.GreatHomesInCharlotte.com
Blog: News You Can Use From Charlotte/Ballantyne/Waxhaw/Fort Mill
Search For All Charlotte Area Homes: www.GreatHomesInCharlotte.com 

2007 - 2018 Charlotte Magazine 5-Star Customer Satisfaction Award Winner

 

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Disclaimer:  Nothing in this blog article is to be construed as legal advice, tax advice, or financial advice.  For legal advice see an attorney.   For tax advice or financial advice see a tax attorney, certified public accountant, or other qualified professional.

 

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Topic:
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Groups:
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Union County NC Real Estate
2017 Market Trend Reports
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Tags:
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Rainmaker
3,212,834
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Realtors - Luxury - Divorce

The plague of thinventory strikes again !

Aug 04, 2017 05:03 AM #3
Rainmaker
3,016,232
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Sally K. & David L. Hanson ~ good morning, Sally and David... "plague" may just be thr right word to use in connection with thinventory! It's like a communicable disease, if you ask me.

Aug 04, 2017 05:09 AM #4
Rainmaker
1,979,721
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Southlake, TX
Selling Homes Changing Lives

Nina Hollander - As the trends continue, Seller's Market, competitive market, challenges are many. Gone are the days when serious buyers can be so darn picky and buyers soon learn, buying a home isn't as easy as seen on TV Reality shows. You carved out the truth because you know the truth about your market area. Consumers would be wise to choose you for all their real estate needs. 

Aug 04, 2017 05:11 AM #5
Rainmaker
3,778,788
Dorie Dillard CRS GRI ABR
Coldwell Banker United Realtors® ~ 512.750.6899 - Austin, TX
Serving Buyers & Sellers in NW Austin Real Estate

Good morning Nina Hollander ,

As you commented isn't it amazing how quickly things can change in real estate? One minute you can't give it away and the next you can't keep any inventory?? So many challenges in today's market..sellers market, multiple offers, thininventory..it takes a professional like you to interpret what is going on and buyers and sellers are wise to use your knowledge and expertise included in your services!

Aug 04, 2017 05:38 AM #6
Rainmaker
2,959,068
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

You have been cranking out the market reports. I am lagging behind. Have a good Friday Nina Hollander 

Aug 04, 2017 05:44 AM #7
Rainmaker
4,041,547
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Nina, Indian Trail is experiencing nice home value increases, as 6.5% is quite nice!   Great market update! 

Aug 04, 2017 06:49 AM #8
Rainmaker
5,310,070
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

This is great information to share with families moving to the area.

Aug 04, 2017 06:56 AM #9
Rainmaker
2,189,507
Elizabeth Weintraub Sacramento Realtor Top 1%
RE/MAX Gold - Sacramento, CA
Put 40 years of experience to work for you

I have to share this with you, Nina, but when I read the beginning title of your blog, I thought to myself, Oh, No! What DID happen in Indian Trail? Did somebody get murdered? Is this a mystery?

Aug 04, 2017 08:01 AM #10
Rainmaker
3,016,232
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Patricia Feager ~ hi Patricia... I've always felt they needed to get another name for "reality" tv, as there is nothing very real about it.

Aug 04, 2017 10:42 AM #11
Rainmaker
3,016,232
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Elizabeth Weintraub Sacramento Real Estate Agent, Top 1% of Lyon Agents ~ hi Elizabeth... I start all my market reports that way....and hopefully they demistify what is happening in the market.

Aug 04, 2017 10:43 AM #12
Rainmaker
3,016,232
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Joan Cox ~ hi Joan... the lack of inventory in Indian Trail is causing these price increases, which for Charlotte area are huge on a month to month basis.

Aug 04, 2017 10:44 AM #13
Rainmaker
3,016,232
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Scott Godzyk ~ hi Scott... I always figure that if I can get these market reports all done in the first week or so of a month, I don't need to think alot about them throughout the month.

Aug 04, 2017 10:45 AM #14
Ambassador
3,059,769
Paul S. Henderson, REALTOR®, CRS
RE/MAX Northwest. - Tacoma, WA
Tacoma Washington Agent/Broker & Market Authority!

Here we go with yet another great market report. I know we look at these figures everyday but you succeed in bringing it to us in a very comprehensive report. Thank you again Nina Hollander 

Aug 04, 2017 10:45 AM #15
Rainmaker
3,016,232
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Dorie Dillard ~ hi Dorie... time does have a way of playing tricks on our minds. When the market went sideways it felt as if it would never recover. And now we've got the opposite problem wondering when we'll have more inventory.

Aug 04, 2017 10:46 AM #16
Rainmaker
3,016,232
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Roy Kelley ~ hi Roy...Indian Trail is actually quite a popular area for people moving here from outside the Carolinas... still affordable, decent schools, and close to everything.

Aug 04, 2017 10:47 AM #17
Rainmaker
2,480,392
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

I am always intrigued by Indian Trail and Indian Land and enjoy knowing what is going on within these communities!

Aug 04, 2017 11:19 AM #18
Rainmaker
2,773,155
Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale-Probate & Trust Specialist

I am feeling shame this morning. Reading your July market report as well as others, I am ever-mindful of the fact that I have not completed my June market reports ... and we are ready to report July, 

Thinventory is a great term for the lack of inventory which seems to be impacting so many markets ... including mine. 

Aug 04, 2017 11:51 AM #19
Rainmaker
3,016,232
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Kathleen Daniels ~ hi Kathleen... well then... forget about June and just jump into July. I did that one month when I got so busy I just couldn't add another thing to my schedule. Have a great weekend, my friend!

Aug 04, 2017 12:56 PM #20
Rainmaker
3,016,232
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Brian England ~ hi Brian... everytime I write a report on Indian Trail or Indian Land these days I think of you! Have a wonderful weekend!

Aug 04, 2017 12:57 PM #21
Rainmaker
3,016,232
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Paul S. Henderson, CRS, REALTOR®, ~ hi Paul... what's more dreary than reading market reports at some level? That's why I try so hard to make them look a bit more interesting and readable!

Aug 04, 2017 12:58 PM #22
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