Indian Trail, NC (28079 Zip Code) Housing Market Update: February 2020
Latest news on the Indian Trail real estate market and what it means for you...
The Indian Trail, NC area includes the towns of Stallings, Hemby Bridge, and Lake Park in Union County in the 28079 zip code. With lower inventory, fewer days on market and fewer months supply of inventory, Indian Trail remained predominantly a seller's market in February.
The Indian Trail area experienced small decreases in both average and median home sale prices in February 2020 compared with the same month in 2019. Average home prices decreased 2.5% to $274,163, while median home prices decreased 1.1% to $279,500 year-over-year. The small decrease in home prices is less reflective of a diminution in home values than of the price mix of homes that sold in February.
Price per square foot averaged $127 (up $11/square foot), increasing 9.5% year-over-year.
The months supply of homes for sale dropped to 1.6 months (down 36% from 2.5 months in February 2019). The months supply of homes also dropped month-over-month from 1.8 months in January 2020. Inventory of homes also dropped 27.4% compared with the same month one year ago.
New listings increased slightly in January -- by 6.6% compared with the same time frame one year ago. Closed sales in February increased 40% year-over-year, while pending sales increased 19%.
Average days on market were 59 (down 7 days) and median days on market were 32 (down 27 days year-over-year) in January. Indian Trail homes continue to sell quickly.
At a median selling price of 98.2% of list price, Indian Trail buyers should expect minimal room to negotiate, especially in Indian Trail's hottest communities where the discount hovered around 99%.
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Indian Trail Area Housing Market Highlights
February 2020 versus February 2019
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And did you know that Indian Trail's Porter Ridge Middle School is ranked in the top 20 middle schools in the Charlotte metro area?
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Median Home Sale Price Trends For 28079 Zip Code
Median Home Sale Prices Trends For:
Indian Trail, Stallings, Hemby Bridge
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This Charlotte, North Carolina real estate monthly update for Indian Trail area in the 28079 zip code is provided by Nina Hollander and Carolinas Realty Partners, Coldwell Banker Realty, 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.
If you're considering selling or purchasing a home in the Indian Trail area or anywhere in the the Charlotte metro area, I'd love an opportunity to earn your business, to exceed your expectations, and to show you how: