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

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Real Estate Agent with Coldwell Banker Residential Brokerage
https://activerain.com/droplet/585p

Indian Trail, NC Housing Market Update September 2016

 

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 2017).  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 0.3% compared with last year at 98.5%, showing minimal negotiating room for Indian Trail/Stallings area homes.

 

New listings decreased 7.0% versus October 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 11.5% versus October 2016). 

 

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 increasing sales and prices throughout the last two months of this year, will be to have homes (inventory) 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 - October 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: September 2017

Indian Trail Housing Market Update: August 2017

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 courtesy of Nina Hollander and Carolinas Realty Partners, RE/MAX Executive, your Charlotte metro area real estate consultants. 

 

If you are considering selling or purchasing a home in the Charlotte metro area, I'd 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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Topic:
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Groups:
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George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Nina hope the inventory picks up so that those fantastic sales keep going.

Nov 05, 2017 02:59 PM #1
Rainmaker
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Lou Ludwig
Ludwig & Associates - Boca Raton, FL
Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC

Nina

The October 2017 Indian Trail North Carolina real estate market looked strong.

Good luck and success.

Lou Ludwig

Nov 05, 2017 08:48 PM #2
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Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

A 5% increase in pricing in one year is not too fast but shows a strong market. Have a good week ahead, Nina.

Nov 05, 2017 09:47 PM #3
Rainmaker
3,018,807
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Debbie Reynolds ~ hi Debbie... for Indian Trail this is a huge increase in values!

Nov 06, 2017 07:49 AM #4
Rainmaker
3,018,807
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Lou Ludwig ~ hi Lou... we could really use more inventory in Indian Trail to keep prices from skyrocketing.

Nov 06, 2017 07:50 AM #5
Rainmaker
3,018,807
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

George Souto ~ hi George... and that's precisely the problem... not enough inventory to feed sales.

Nov 06, 2017 07:50 AM #6
Rainmaker
4,041,757
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Nina, great market update for Indian Trail, and you know your market!  

Nov 06, 2017 08:16 AM #7
Rainmaker
3,018,807
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Joan Cox ~ hi Joan... one of the very few still affordable areas of Charlotte... but if we don't get more inventory, Indian Trail will start becoming unaffordable for many as well.

Nov 06, 2017 08:42 AM #8
Rainmaker
389,571
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

Nina - you appear to be having a similar market to us in Central Oregon. Not enough inventory, prices rising, but sales dropping. 

Nov 07, 2017 04:06 PM #9
Rainmaker
3,018,807
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Lynnea Miller ~ hi Lynnea... and also more and more entry level buyers being priced out of the market.

Nov 08, 2017 03:48 AM #10
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Nina Hollander

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