Indian Trail/28079 Zip Code Housing Market Update & Video: August 2018
August 2018 home sales in the Indian Trail, North Carolina area (28079 zip code), which also includes the Towns of Stallings, Hemby Bridge, and Lake Park in Union County, continued many of the trends we've seen since 2017 and all this year-to-date with closed sales just holding on, days on market decreasing, available inventory decreasing and new listings decreasing.
The average sale price of Indian Trail area homes was just under $265,000 and median sale price was $260,000.
Average days on market for property listings dropped by 5 days to 26 days--a 16.1% improvement over the same period last year. Median days on market were also low at just 13 days. In other words, homes in the Indian Trail area are selling quickly.
Average price per square foot increased by 9% to $121/square foot in August 2018 versus the same period in 2017. Pending sales were up significantly by 23.4% in August versus the same month last year, while August closed sales increased marginally by 1.1%. No doubt the lack of inventory which dropped 1.6% year-over-year and which was only 2.6 months, contributed to the continued lackluster closed sales in August 2018.
The median percent of original list price that sellers received for their homes was 98.6%, showing minimal negotiating room for Indian Trail/Stallings area homes.
New listings decreased a scant 4.4% in August 2018 putting strain on a high demand market hungry for more inventory. Indian Trail area's months supply of homes stood at 2.6 months (down 3.7% versus August 2017).
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 end our summer selling season and look forward towards the fall.
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This Charlotte, North Carolina real estate monthly update for Indian Trail and Stallings, NC in the 28079 zip code is provided by Nina Hollander and Carolinas Realty Partners, RE/MAX Executive, your Charlotte metro area residential real estate experts and Indian Trail specialists.
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