Latest news on the Indian Trail real estate market in April and what it means for you...
Indian Trail area (28079 zip code), which includes the towns of Indian Trail, Stallings, Hemby Bridge has fully recovered from the effects of the pandemic and is without doubt a home seller's market. Home prices increased over April 2020, while days on market and inventory dropped significantly year-over-year.
Average home prices increased 6.6% to $322,707 in April 2021 compared with the same month one year ago. Median home prices increased 17.5% to $335,000 year-over-year. Price per square foot averaged $158 (up $20/square foot), increasing 14.5% year-over-year.
The months supply of homes for sale dropped to 0.8 months (down 60% from 2 months in April 2020). Inventory of homes also dropped 59.3% compared with the same month one year ago.
New listings increased in April -- by 43.1% compared with the same time frame one year ago. The increase in new listings is not surprising as in April 2020 our housing market was essentially shut down due to pandemic related lock-downs.
Closed sales in March increased 7.6%, while pending sales increased 47.1%. Again, the increase in pending sales year-over-year is not surprising given the April 2020 lockdowns which put our real estate activity on hold.
The low inventory coupled with higher home prices are a testament to the recovery of the Indian Trail housing market after a dismal performance in the first couple of months of the pandemic.
Average days on market were 7 (down 20 days year-over-year and down 5 days month-over-month). Average days on market were down 58 days from two years ago. Median days on market were just 2 (down 3 days year-over-year) in April. Median days on market were also down 19 days from two years ago. This, too, speaks to pent-up buyer demand and a recovered market for the Indian Trail housing market in April 2021.
At a median selling price of 102.3% of list price (up 2.9% from April 2020), Indian Trail home buyers should expect minimal room to negotiate, especially in Indian Trail's hottest selling communities.
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Indian Trail Area Housing Market Highlights
April 2021 versus April 2020
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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
This Charlotte, North Carolina real estate monthly update for the 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:
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