Indian Trail/28079 Zip Code Housing Market Update & Video: September 2018
September 2018 home sales in the Indian Trail, North Carolina area (28079 zip code), which 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 pending and closed sales suffering due to lack of affordable inventory, new listings decreasing, and home prices increasing.
The average sale price of Indian Trail area homes was just under $262,000, increasing by 1.6%, while the median sale price was just over $249,000, increasing by 2%, year-over-year.
Average days on market for property listings were 38 days--up 12 days over the same period last year. Median days on market were 19 days. On the whole, despite an increase in days on market, homes in the Indian Trail area sold quickly in September.
Average price per square foot increased by 8.9% to $122/square foot in September 2018 versus the same period one year ago. Pending sales were up down 12.3% in September versus the same month last year, while September closed sales decreased 26.4%. No doubt the lack of inventory which was only 2.6 months, contributed to the lackluster closed sales in September 2018.
The median percent of original list price that sellers received for their homes was 98.3%, showing minimal negotiating room for Indian Trail/Stallings area homes.
New listings decreased 11.8% in September 2018 putting strain on a market hungry for more inventory. Indian Trail area's months supply of homes stood at 2.6 months (flat versus September 2017).
It continues to be a seller's market in the 28079 zip code and a competitive environment for home buyers in the Indian Trail area. This would not appear poised for change as we look forward towards the fall selling season.
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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 with Coldwell Banker Residential Brokerage, your Charlotte metro area residential real estate experts and Indian Trail specialists. We've been opening doors for Indian Trail area home buyers and sellers for 20 years.
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