Indian Trail, NC Real Estate Report: What Happened In August 2022

By
Real Estate Agent with Coldwell Banker Realty

Latest news on the Indian Trail real estate market in August 2022...

What you need to know...

What it means for you...

 

Indian Trail area (28079 zip code), which includes the towns of Indian Trail, Stallings, and Hemby Bridge showed signs of a shifting and cooling market with pending and closed sales down, median list to sale price ratio down, foot traffic in listed properties down, and inventory up dramatically in August 2022. By the same token, home prices increased, days on market remained relatively low, price per square foot set a new record.  

 

 Indian Trail Area Housing Market Highlights

August 2022 vs August 2021

Indian Trail, NC Housing Market Snapshot August 2022

 

 

INDIAN TRAIL HOME SALE PRICES INCREASED YEAR-OVER-YEAR BUT DECREASED MONTH-OVER-MONTH

Average home prices in Indian Trail increased 18.6% to $431,858 in August 2022 compared with the same month one year ago. Month-over-month, average home sale prices decreased approximately $11,000. Indian Trail home prices were approximately $132,000 higher in August 2022 compared with August 2020. 

 

Median home prices increased 11.8% to $450,000 year-over-year. Median home sale prices were approximately $25,000 lower in August 2022 than in July 2022.  Median home sale prices in August 2022 were about $105,000 higher than in August 2020. Indian Trail homeowners continue to sit on a substantial amount of equity.

 

Price per square foot averaged $211 (up $45/square foot from $166/square foot one year ago). This set a new record high for price per square foot.

 

INDIAN TRAIL HOUSING INVENTORY INCREASED IN AUGUST 2022, BUT NEW LISTINGS DECREASED

The months supply of homes for sale increased to 2 months (up from 1.7 months in August 2021). Month-over-month, the months supply of homes was 0.1 months higher. New listings decreased 18.9%, while inventory of homes increased 94% year-over-year. It appears that Indian Trail area buyers pulled back in August 2022 to take time to reassess purchase plans in the face of increasing mortgage rates and home prices.

 

INDIAN TRAIL CLOSED & PENDING SALES DOWN IN AUGUST 2022

Closed sales in August 2022 decreased 28.6% year-over-year, while pending sales decreased 22.7%, no doubt contributing to the increase in inventory in August.

 

Another sign of the market cooling somewhat in August 2022 was the foot traffic through home listings, which was down to an average of 7.3 showings per listing compared with 13.5 showings in August 2021.  Month-over-month, foot traffic dropped from 8.1 average showings per listing to 7.3 showings.

 

DAYS ON MARKET INCREASED IN AUGUST 2022 YEAR-OVER-YEAR & MONTH-OVER-MONTH 

Average days on market increased two days to 15 days in August 2022 compared with August 2021. Average days on market were 17 days lower than in August 2022. Year-over-year median days on market increased three days to seven days in August 2022. Month-over-month, median days on market increased by three days. Although average and median days on market are increasing, they are still quite low.

 

LIST TO SALE PRICE RATIO OVER 100% IN JULY 2022

At a median selling price of 99.1% of list price (down 5% year-over-year and down 2.5% month-over-month), Indian Trail home buyers might be seeing a small window of opportunity to negotiate on price, but should still expect minimal room to negotiate in Indian Trail’s hottest selling communities. 

 

Want to know what this would mean for your family if you decide to buy or sell an Indian Trail area home?

Wondering About Charlotte's Real Estate Market? Call Nina Hollander   

We can help.

Call us today at 704-779-0813 or contact us here.

There’s absolutely NO OBLIGATION. 

A consultation with Carolinas Realty Partners is FREE.   

 

 MORE DETAILS ABOUT INDIAN TRAIL'S HOUSING MARKET PERFORMANCE

 

MORE DETAILS ABOUT STALLING'S HOUSING MARKET PERFORMANCE

   

Indian Trail, NC is ranked as one of America's 50 Top Small Cities To Live In

CHECK OUT THE...

 

10 HOTTEST SELLING INDIAN TRAIL NEIGHBORHOODS 

Hot Indian Trail, NC Neighborhoods  

 

Did you know that Indian Trail's Porter Ridge Middle School and Union Prep Academy are ranked in the top 20 middle schools in the Charlotte metro area?

 

SEARCH INDIAN TRAIL  HOMES  FOR  SALE

 

Charlotte area home listings delivered directly to your email for free

 

FREE Home Buyer Guide: “Things To Consider When Buying A Home”

 

WONDERING WHAT YOUR INDIAN TRAIL, NC HOME IS WORTH?

What's My Indian Trail Area Home Worth? 

FREE Home Seller Guide: “Things To Consider When Selling Your House”

 

THINKING OF SELLING YOUR HOME? CHECK OUT THE COLDWELL BANKER MARKETING ADVANTAGE 

 

 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, Greater Charlotte 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:

 "The Right Broker Makes All The Difference."

    

 

Read the original post at www.GreatHomesInCharlotte.com

 

Posted by

 

 Nina Hollander, RE/MAX Broker, Realtor

 

 

 

Broker, Realtor, MBA, GRI, ABR, SRES, CDPE, SFR, SPS, CMRS
Carolinas Realty Partners with Coldwell Banker Realty
Direct: 704-779-0813
Website: www.GreatHomesInCharlotte.com
Blog: News You Can Use From The Greater Charlotte Area
Search For All Charlotte Area Homes: www.GreatHomesInCharlotte.com 

Charlotte Magazine 5-Star Customer Satisfaction Award Winner Since 2007

 

 Connect with me also on these sites:  

 

facebook twitterlinkedinpinterest

  

                                                                                                                                          

Oh by the way, I'm never too busy for any of your referrals!

 

Find Your Charlotte Home

 

How Much Is My Home Worth       Free Charlotte Relocation Package

 

 

 

Disclaimer:  Nothing in this blog article is to be construed as legal advice, tax advice, or financial advice.  For legal advice see an attorney.   For tax advice or financial advice see a tax attorney, certified public accountant, or other qualified professional.

 

Comments (20)

Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co Notary Services retired RE Broker

Excellent, comprehensive report Nina Hollander, Broker . I just may end up being able to afford a small flat there if prices start to come down.

Sep 16, 2022 09:20 AM
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Wow Nina 18.6% increase and still 15 days on market.  You always come up with great market reports to share with us here in the rain.

 

Sep 16, 2022 09:21 AM
Eric Bouler
Gardner Realtors, Licensed in La. - New Orleans, LA
Listening to your Needs

Nina glad to see your blog when I looked at in about midday here. Have a great week...

Sep 16, 2022 09:22 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Bob "RealMan" Timm hi Bob... would that there were "flats" in Indian Trail! Go a bit further out from Indian Trail into Monroe and you might just find an affordable property!

Sep 16, 2022 09:24 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Will Hamm thanks, Will... while the market is shifting and cooling a bit, we can't lose sight of the fact that homes are still selling pretty quickly and pretty much at top dollar if priced right from the start.

Sep 16, 2022 09:25 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Eric Bouler thanks, Eric... wishing you a good rest of the day and a wonderful weekend to come.

Sep 16, 2022 09:26 AM
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Hi Nina - you certainly still have a strong sellers market in Indian Trail but with a shift.

Sep 16, 2022 11:26 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Grant Schneider hi Grant... no doubt the market is shifting, but most of the areas that I cover are still holding relatively strong. We'll see how long that lasts!

Sep 16, 2022 02:40 PM
Kathy Streib
Cypress, TX
Home Stager/Redesign

Hi Nina- another thorough report for Indian Trail.   It looks like there's still time for sellers in your area but they need to call you!!!

Sep 16, 2022 04:52 PM
Mark Don McInnes, Sandpoint-Idaho
Sandpoint Realty LLC - Sandpoint, ID
North Idaho Real Estate - 208-255.6227

As always Nina, a very complete and insightful report.  Make it a great weekend.  M

Sep 16, 2022 05:27 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Nina I longingly look at your Days on Market, that is a memory in the distant past in my market. To get such short days on market we have to price the properties $200k below market to get such a response. Endre

Sep 16, 2022 11:15 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Kathy Streib good morning, Kathy... you're right... sellers in many parts of Charlotte have not yet lost the opportunity to sell quickly and at a good price. But who know how long that window of opportunity will last?

Sep 17, 2022 04:11 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Mark Don McInnes, Sandpoint-Idaho good morning, Mark, and thanks for the nice comment. I've always said if you're going to do market reports make sure they are thorough and say something that people can understand.

Sep 17, 2022 04:13 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Endre Barath, Jr. good morning, Endre... I keep telling people that just because DOM are up somewhat they need to look at the actual DOM, which on the whole are still relatively low.

Sep 17, 2022 04:14 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Nina, this side seems like a bit more affordable, but still a very strong market!  

Sep 17, 2022 06:34 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Joan Cox hi Joan... Indian Trail is the more "affordable" option to the Waxhaw area in Union County. But prices are still so much higher than they were just a few years ago.

Sep 17, 2022 08:04 AM
Buzz Mackintosh
Mackintosh REALTORS - Frederick, MD
“Experience, reliable, leadership”

Our inventory is still pretty low and prices continue to rise. Looks like you all are cooling down and which will give Buyers a little more to choose from and more bargaining room with a higher payment too.

Sep 17, 2022 08:51 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Buzz Mackintosh hi Buzz... we are seeing a bit of a cooling, but it does depend on where and which subdivision... not much cooling in some of them yet.

Sep 17, 2022 09:54 AM
Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

Indian Trail home buyers and sellers are sure to value your real estate market report, Nina.

Sep 18, 2022 07:04 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Myrl Jeffcoat thanks, Myrl, for popping by this morning. Trust you've been enjoying your weekend.

Sep 18, 2022 07:24 AM