Indian Trail, NC/28079 Zip Code Housing Market Update: March 2018

By
Real Estate Agent with RE/MAX Executive | Charlotte, NC

 

March 2018 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 saw throughout 2017 and in the first two months of 2018 with sale prices increasing, days on market decreasing, available inventory and new listings decreasing, causing a decrease in closed and pending sales.

 

 

The average sale price of Indian Trail area homes increased by 4.0% to just under $258,000 as compared with the same period one year ago. 

 

Average days on market for property listings dropped by 7 days to 37 days from 44 days just one year ago--a 15.9% improvement over the same period last year. Median days on market also dropped by 21.4% to 11 days in March 2018. 

 

Average price per square foot increased by 5.7% to $112/square foot in March 2018 versus the same period in 2017. Pending sales decreased 5.9% in March versus the same month last year, while March closed sales  decreased by 16.1%. This is the third month in a row with closed sales down by double digits. No doubt the lack of inventory, which was only 2.4 months, contributed to the decrease in pending and closed sales in March 2018.

 

During March 2018, the number of showings until pending contract per listing averaged 16 showings (down 11.1% versus March 2017) 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 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  98.5%, showing minimal negotiating room for Indian Trail/Stallings area homes.

 

New listings decreased 8.2% versus March 2017 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 4.0% versus March 2017). Overall, housing inventory was down 10.1% in March 2018 compared with the same month one year ago.

 

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 height of our spring selling season.

 

 

SEARCH ALL INDIAN TRAIL AREA, NORTH CAROLINA HOMES HERE

 

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WONDERING WHAT YOUR INDIAN TRAIL/STALLINGS HOME IS WORTH?

 

Instant Home Value Report from Nina Hollander, ReMax

  

 

 PREVIOUS INDIAN TRAIL, NORTH CAROLINA HOUSING MARKET UPDATES:

Indian Trail Housing Market Update: February 2018

Indian Trail Housing Market Upate: January 2018

Indian Trail Housing Market Update: December 2017

Indian Trail Housing Market Update: November 2017

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

 

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 residential real estate consultants.experts and Indian Trail experts.

 

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, Broker, Realtor / REMAX / Carolinas Realty Partners / Ph: 704.779.0813 / F: 704.341.3346 / E: Nina@NinaHollander.com / W: www.GreatHomesInCharlotte.com

Nina Hollander
Broker, Realtor, MBA, CRS, GRI, ABR, SRES, CDPE, SFR, SPS, CMRS
Carolinas Realty Partners with RE/MAX Executive
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 - 2017 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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Tags:
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Rainmaker
1,399,560
Jeremy K. Frost
Keller Williams Realty - Dripping Springs, TX
Associate Broker, CNE, CRS, ePro, PSA

Thank you for sharing your local insight and expertise with us. Best of luck!

Apr 09, 2018 11:00 AM #1
Rainmaker
2,444,681
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Jeremy K. Frost ~ hi there, Jeremy... happy Monday. Thanks so much for popping by and taking time to leave a comment!

Apr 09, 2018 11:08 AM #2
Rainmaker
2,898,735
Michael Jacobs
Coldwell Banker Residential Brokerage - Pasadena, CA
Los Angeles Pasadena Area Real Estate 818.516.4393

Hello Nina. I like the insight you share of the market along with the trends you observe.  Very comprehensive and professional.  Nicely done.

Apr 09, 2018 12:03 PM #3
Rainmaker
2,444,681
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Michael Jacobs ~ hi Michael... thanks. It's a mistake for us to assume that if we just put a bunch of numbers out there that the public understandings what they mean and how to interpret them.

Apr 09, 2018 12:12 PM #4
Rainmaker
2,015,956
Elizabeth Weintraub Sacramento Real Estate Agent, Top 1% of Lyon Agents
Lyon Real Estate - Sacramento, CA
Put 40 years of experience to work for you

Indian Trail seems like a good place in which to be a listing agent, Nina. Although some people might read decreasing pendings and decreasing sales and then figure the market is falling when just the opposite is happening.

Apr 09, 2018 12:58 PM #5
Rainmaker
2,444,681
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Elizabeth Weintraub Sacramento Real Estate Agent, Top 1% of Lyon Agents ~ hi Elizabeth... that's why I try to provide some "background" to my market reports. People often don't understand that if there's nothing to sell, sales will go down while prices go up.

Apr 09, 2018 02:51 PM #6
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Rainmaker
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Nina Hollander

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