Indian Trail, NC (28079 Zip Code) Housing Market Update: April 2020
Latest news on how corona virus impacted the Indian Trail real estate market and what it means for you...
Indian Trail area (28079 zip code), which includes the towns of Indian Trail, Stallings, Hemby Bridge, felt the impact of the corona virus pandemic in April 2020 -- the first full month of stay-at-home restrictions in North Carolina. Days on market, housing inventory, months supply of homes, new listings all were down significantly. Closed and pending sales were also down significantly.
Average home prices increased 4.2% to $299,087 in April 2020 compared with the same month one year ago. Median home prices were essentially flat at $278,000 (down 0.07%) year-over-year. Price per square foot averaged $138 (up $12/square foot), increasing 9.5% year-over-year.
The months supply of homes for sale dropped to 1.6 months (down 33.3% from 2.4 months in April 2019). Inventory of homes also dropped 30.9% compared with the same month one year ago. New listings decreased in April -- by 43.3% compared with the same time frame one year ago. April would typically be a month when we see these numbers go up for the spring selling season.
Closed sales in April decreased 36% year-over-year, while pending sales decreased 35%. With home showings in April 2020 down to 415 showings compared with 1,188 showings in April 2019, it's not surprising that sales were down.
Average days on market were 23 (down 42 days year-over-year). Median days on market were 4 (down 17 days year-over-year) in April. Month-over-month, average days on market dropped by 25 days, while median days on market dropped by 7 days.
At a median selling price of 99.4% of list price (up 2.4% from April 2019 and up almost a full percent from March 2020), Indian Trail home buyers should expect minimal room to negotiate, especially in Indian Trail's hottest communities.
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Indian Trail Area Housing Market Highlights
April 2020 versus April 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