Indian Trail has recovered from the negative affects of the corona virus we saw early in 2020. Year-over-year, home prices increased while days on market decreased. Housing inventory is razor-thin and Indian Trail will need a significant infusion of new inventory to maintain this pace of home sales in the coming months. No doubt there’s plenty of pent-up buyer demand for Indian Trail area homes.
Indian Trail (28079 Zip Code) Housing Market Update: January 2021
Latest news on the Indian Trail real estate market in January and what it means for you…
Indian Trail area (28079 zip code), which includes the towns of Indian Trail, Stallings, Hemby Bridge appears to have recovered from the initial effects of the pandemic earlier in the year. Home prices increased over January 2020, while days on market and inventory dropped significantly year-over-year.
Average home prices increased 12% to $329,160 in January 2021 compared with the same month one year ago. Median home prices increased 16.9% to $345,000 year-over-year. Price per square foot averaged $147 (up $20/square foot), increasing 15.7% year-over-year.
The months supply of homes for sale dropped to 0.9 months (down 55% from 2 months in January 2020). Inventory of homes also dropped 56.5% compared with the same month one year ago. New listings increased in January– by 27.7% compared with the same time frame one year ago.
Closed sales in January decreased 8.7%, while pending sales increased 22%. With so little inventory, it’s no wonder that closed sales did not increase.
The low inventory together with higher home prices and pending sales 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 32 (down 18 days year-over-year). Median days on market were just 4 (down 12 days year-over-year) in January. This, too, speaks to pent-up buyer demand and a continued recovery for the Indian Trail housing market in January 2021.
At a median selling price of 100% of list price (up 2.8% from January 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
January 2021 versus January 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 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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