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

By
Real Estate Agent with Coldwell Banker Realty 179530

Indian Trail, NC Housing Market Update September 2016

 

November 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 the continuing lack of inventory.

 

The average sale price of Indian Trail area homes increased by 2.2% to just over $252,000 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 26.7% to 11 days in November 2017. 

 

Average price per square foot increased by 5.8% to $110/square foot in November 2017 versus the same period in 2016. Pending sales decreased 8.2% in November versus the same month last year, while November closed sales  decreased by 8.1%. No doubt the lack of inventory contributed to the decrease in pending and closed sales in November 2017.

 

During November 2017, the number of showings until pending contract per listing averaged 16 showings (down 15.8% versus November 2016) and the number of showings per listing averaged 7.9 showings (up 2.6% versus the same time frame 2016, giving credence to continue buyer demand for homes).  Given the reduced number of available homes for sale, it's not surprising that homes for sale receive 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 10.8% versus November 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 November 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. And this would not appear poised for change as we enter the last month of 2017.

 

 

Indian Trail/Stallings Local Housing Market Update - November 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: October 2017

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

 

 

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'd 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

 

 Nina Hollander, RE/MAX Broker, Realtor

 

 

 

Broker, Realtor, MBA, GRI, ABR, SRES, CDPE, SFR, SPS, CMRS
Carolinas Realty Partners with Coldwell Banker Realty
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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.

 

Comments (22)

Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

Thanks for sharing the market update for Indian Trail North Carolina - Looks like a strong market! I hope it comes up to the Maryland area! 

Dec 05, 2017 05:37 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Lise Howe ~ good morning, Lise. Our entire area is quite strong, especially in the under $300K price point. I would have thought that your area is quite strong just because of the proximity of DC.

Dec 05, 2017 05:39 AM
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

Nina Hollander - DC is strong - but further out is shifting because the buyers want to be inside the Beltway - the millenials are affecting values here - the big homes on two acres just aren't moving - and sellers need to internalize that! 

Dec 05, 2017 05:41 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Lise Howe ~ hi Lise... funny that you say the homes on larger lots aren't moving... they seem to be a bit slow here, too. People don't want the upkeep.

Dec 05, 2017 05:44 AM
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

I really like your graphs Nina Hollander. Here buyers are asking for larger lots but do not want to go as far out as in the past. But most do not want to be "too close" to the center of the city. Have a good day

Dec 05, 2017 06:11 AM
Brian England
Ambrose Realty Management LLC - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

I think I would like the Indian Trail area, but Indian Land is still my favorite for some reason, haha.

Dec 05, 2017 06:14 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Brian England ~ hi Brian... I'd take Indian Land over Indian Trail myself... taxes much lower and on the border of smokin' hot Ballantyne area!

Dec 05, 2017 06:17 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Scott Godzyk ~ hi Scott... more and more people here want to be closer to City Center... problem is... they can't afford it!

Dec 05, 2017 06:18 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Nina, read an article yesterday and Charlotte was in the top 3 fastest growing cities now.    Denver is finally out of the top ten, but now Colorado Springs is in.

Dec 05, 2017 06:48 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Joan Cox ~ hi Joan... and I saw something yesterday that said people are leaving Colorado... need to find it in the morass of emails in my inbox to send to you.

Dec 05, 2017 07:34 AM
Joan Cox

I did see that on the news Nina Hollander .   Our traffic has gotten really bad, and they say our prices are too high.

Dec 08, 2017 06:18 AM
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hey Nina, send that to me also please.  Great report in Indian Trails area for your buyers and sellers.

 

Dec 05, 2017 07:54 AM
Beth Atalay
Cam Realty and Property Management - Clermont, FL
Cam Realty of Clermont FL

Good morning Nina Hollander, I hope you'll see an increase in the inventory after the holidays. There's no slowing in the real estate market for NC. 

Dec 05, 2017 08:11 AM
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Nina every market seems to have its challenges that is why it is a must in my book for Buyers and Sellers to be represented by a professional, knowledgeable  Realtor like you.

Dec 05, 2017 11:23 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

 Will Hamm ~ thanks, Will... but not sure what you are asking me to send you... clarify please!

 

Dec 05, 2017 04:02 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Beth Atalay ~ hi Beth... at the moment I'm not expecting any inventory increases in our market... we are into our third year of thinventory here.

Dec 05, 2017 04:02 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

George Souto ~ thanks, George... you make a good point, regardless of how strong or weak a market is, it will have its challenges.

Dec 05, 2017 04:03 PM
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

I always enjoy reviewing the Indian Trail North Carolina housing market the way you see it Nina Hollander 

Dec 05, 2017 11:17 PM
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

You always provide good information about your housing market. Thank you for sharing 

Dec 06, 2017 02:39 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Paul S. Henderson, REALTOR®,CRS, ~ thanks, Paul. I believe numbers alone are meaningless to the public... we need to interpret them a bit. Unfortunately, my "message" has been pretty much the same for a while... seller's market, low invebtory, higher home prices.

Dec 06, 2017 04:23 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Gita Bantwal ~ thanks Gita... trust your day has gotten off to a great start.

Dec 06, 2017 04:24 AM