Latest news on the Indian Trail real estate market in December 2021 and what it means for you...
Indian Trail Area Housing Market Highlights
December 2021 vs December 2020
Indian Trail area (28079 zip code), which includes the towns of Indian Trail, Stallings, Hemby Bridge, remained a home seller's market in December 2021. In fact, it's been six years since Indian Trail could be considered a balanced market, much less a home buyer's market. Home prices increased 30.9% year-over-year and Indian Trail saw the highest average home prices in its history in December. Pending sales also increased year-over-year. Inventory dropped year-over-year, despite an increase in new listings in December.
Average home prices increased 30.9% to $445,672 in December 2021 compared with the same month one year ago. Average home prices also increased month-over-month by some $35,000. Compared with December 2019, average home prices were about $138,000 higher in December 2021. Median home prices increased 36.8% to $425,000 year-over-year. Month-over-month, home median home prices increased about $13,000. Compared with December 2019, median home prices were about $116,000 in December 2021. Both average and median home sale prices rose to their highest levels ever in December 2021.
Price per square foot averaged $181 (up $36/square foot), increasing 24.8% year-over-year.
The months supply of homes for sale dropped to 0.6 months (down 40% from 1.0 months in December 2020 and down from 2.2 months in December 2019). The months supply of inventory was also 0.1 months lower than in November 2021. Despite a 16.7% increase in new listings, inventory of homes dropped 33.3% year-over-year. Homes sold about as fast as they came on the market.
Closed sales in December 2021 decreased 17.9% year-over-year, while pending sales increased 32.6%. Lack of inventory no doubt had a negative impact on closed sales.
Average days on market were 31, up 6 days year-over-year. Median days on market were just 4 in November (down from 5 days in December 2020 and down from 17 days in December 2019). During December 2021, homes listed for sale had 12.2 showings on average, an increase of 45.2% from 8.4 showings in December 2020 and 6.4 showings in December 2019. All this speaks to pent-up buyer demand for Indian Trail homes.
At a median selling price of 102.4% of list price (up 2.4% from December 2020), Indian Trail home buyers should expect minimal room to negotiate, especially in Indian Trail's hottest selling communities.
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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 why experience matters and how:
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