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

By
Real Estate Agent with Coldwell Banker Residential Brokerage

Indian Trail, NC Housing Market Update September 2016

 

August 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 barely hanging on due to lack of inventory.

 

The average sale price of Indian Trail area homes increased by 7.4% to just over $254,000 as compared with the same period one year ago. 

 

Average days on market for property listings dropped by 2 days to 43 days from 45 days just one year ago--a 4.4% improvement over the same period last year. Median days on market also dropped by 18.8% to 13 days in August 2017. 

 

Average price per square foot increased by 7.9% to $109/square foot in August 2017 versus the same period in 2016. Pending sales decreased 4.4% in August versus the same month last year, while August closed sales barely increased by 0.4%. No doubt that the lack of inventory contributed to the decrease in pending sales in August 2017 as well as the anemic increase in closed sales during August.

 

During August 2017, the number of showings until pending contract per listing averaged 16 showings (down 20.0% versus August 2016) and the number of showings per listing averaged 7.9 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 5.5% versus August 2016 adding additional strain to a high demand market hungry for more inventory. Indian Trail area's months supply of homes stood at 2.3 months (down 14.8% versus August 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 area. The 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 - August 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: July 2017

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."

 

 

 

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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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Ambassador
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Paul S. Henderson, REALTOR®, CRS
RE/MAX Northwest. - Tacoma, WA
Tacoma Washington Agent/Broker & Market Authority!

 I always enjoy reading your professional market updates and I appreciate all the research that goes into this Nina Hollander (thank you)

Sep 03, 2017 06:11 PM #1
Rainmaker
2,189,507
Elizabeth Weintraub Sacramento Realtor Top 1%
RE/MAX Gold - Sacramento, CA
Put 40 years of experience to work for you

Despite fewer showings, looks like the Indian Trail market is still strong. Also, being the kind of person that I am, I am also happy to see that Indian Trail has a well thought out and considerate logo. :)

Sep 03, 2017 09:19 PM #2
Rainmaker
3,016,232
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Paul S. Henderson, CRS, REALTOR®, ~ good morning, Paul... and thank you. Meantime, wishing you a wonderful Labor Day!

Sep 04, 2017 04:41 AM #3
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... fewer showings because there's much less inventory and homes are under contract quickly... people hardly get a chance to get inside to look at home in some neighborhoods. As for the logo, the Indian Trail was a major part of North Carolina's history. This is a relatively new logo for the town.

Sep 04, 2017 04:42 AM #4
Rainmaker
4,796,627
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Happy Labor Day Nina.  Thanks for the Indian Trail, North Carolina market update.

Sep 04, 2017 04:50 AM #5
Rainmaker
3,016,232
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Gabe Sanders ~ hi Gabe... happy Labor Day to you, as well. I hope you get a chance to take a bit of rest from your labors today!

Sep 04, 2017 05:15 AM #6
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Rainmaker
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Nina Hollander

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