Latest news on the Indian Trail real estate market in February 2023...
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 in Union County, continued to show signs of a shifting market in February 2023. Key take-aways about the February 2023 housing market included:
- Both average and median home prices increased month-over-month and year-over-year.
- New listings increased month-over-month, but decreased year-over-year.
- Despite an increase in housing inventory, the number of homes for sale in February 2023 was at its lowest level since June 2022.
- Days on market decreased from January 2023, but increased year-over-year.
Indian Trail Area Housing Market Highlights
INDIAN TRAIL HOME SALE PRICES INCREASED YEAR-OVER-YEAR & MONTH-OVER-MONTH
Average home prices in Indian Trail increased 2.94% to $463,643 from $450,400 in January 2023. Compared with February 2022, home prices in Indian Trail increased 6.3% from $436,234. The February 2023 average sale price was at its highest level compared with February 2022 and February 2021.
Median home prices increased to $445,000 in February 2023 by 4.7% from $425,185 in January 2023. The median home price also increased 9.74% year-over-year from $405,500 in February 2022. The median sale price in February was the highest compared with February 2022 and February 2021.
Price per square foot averaged $193 in February, equal to the previous month and 1.6% higher than the $190 per square foot in February 2022.
INDIAN TRAIL HOUSING INVENTORY DECREASED MONTH-OVER-MONTH BUT HIGHER YEAR-OVER-YEAR | NEW LISTINGS DOWN
The number of properties for sale in February 2023 was 182, down 3.2% from January 2023 and 50.4% higher than the 121 properties for sale one year ago in February 2022. The number of properties for sale in February 2023 was at its highest level compared with February 2022 and February 2021. Inventory of homes for sale at its lowest since June 2022.
New listings increased 43.6% in February 2023 to 56 from 39 listings in January 2023. New listings were 26.3% lower than the 76 listings we saw one year ago in February 2022. February's new listings were at their lowest compared to February 2022 (76 listings) and February 2021 (61 listings).
INDIAN TRAIL SALES DOWN YEAR-OVER-YEAR | UP MONTH-OVER-MONTH
Sales in February 2023 increased 21.6% to 45 compared with the previous month of January 2023. Sales were 16.7% lower than in February 2022 which had 54 sales. The February 2023 sales were at their lowest level compared with February 2022 (54 sales) and February 2021 (48 sales).
DAYS ON MARKET UP YEAR-OVER-YEAR | DOWN MONTH-OVER-MONTH
Average days on market decreased 10 days to 43 days in February compared with January 2023. Compared with February 2022, days on market increased 104.8% from 21 days. The February 2023 days on market were at their highest level compared with February 2022 (21 days) and February 2021 (20 days).
LIST TO SALE PRICE RATIO
The list to sale price ratio in February 2023 was 97.8%, equal to January 2023. However, the list to sale price ratio in February 2023 was 4.08% lower than what we saw in February one year ago when it was 101.9%.
Want to know what this would mean for your family if you decide to buy or sell an Indian Trail area home?
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
Did You Know...
Indian Trail has been rated the #5 best place to live in Union County, NC?
Indian Trail has been rated in the top 25 best North Carolina suburbs in which to buy a home?
Indian Trail has been ranked in the top 20% of top North Carolina suburbs?
Indian Trail was named by Family Circle Magazine as one of the 10 Best Places In America to Raise A Family? .
... so why not CHECK OUT THE:
10 HOTTEST SELLING INDIAN TRAIL 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
FREE Home Buyer Guide: “Things To Consider When Buying A Home”
WONDERING WHAT YOUR INDIAN TRAIL, NC HOME IS 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
Subscribe to CommentsComment