Indian Trail, NC (28079 Zip Code) Housing Market Update: March 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 March.
The Indian Trail area experienced increases in both average and median home sale prices in March 2020 compared with the same month in 2019. Average home prices increased 2.7% to $300,454, while median home prices increased 7.9% to $309,750 year-over-year. Both average and median home sale prices increased month-over-month.
Price per square foot averaged $130 (up $13/square foot), increasing 11.1% year-over-year.
The months supply of homes for sale dropped to 1.6 months (down 33.9% from 2.4 months in March 2019). Inventory of homes also dropped 28.5% compared with the same month one year ago.
New listings decreased in March -- by 2.2% compared with the same time frame one year ago. Closed sales in March decreased 5.8% year-over-year, while pending sales decreased 4.8%. At this point in time it's impossible to say how much of the decrease was a result of low inventory and if/how much was as a result of shelter-at-home orders in North Carolina, which came into effect in the last week of March.
Average days on market were 48 (down 9 days year-over-year) and median days on market were 10 (down 19 days year-over-year) in March. Month-over-month, average days on market dropped by 11 days, while median days on market dropped by 22 days. Indian Trail homes continue to sell quickly.
At a median selling price of 98.6% 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
March 2020 versus March 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
PREVIOUS INDIAN TRAIL, NORTH CAROLINA HOUSING MARKET UPDATES:
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:
Read the original blog post at: www.GreatHomesInCharlotte.com