Indian Trail remained a home seller’s market in January 2022 with both average and median home sale prices increasing 29.1% and 31%, respectively over January 2021. Pending sales were up despite a decrease in inventory and new listings, but closed sales were down. List to sale price ratio up year-over-year by 1.9% to 101.9%.
Indian Trail (28079 Zip Code) Housing Market Update: January 2022
Latest news on the Indian Trail real estate market in January 2022 and what it means for you…
Indian Trail area (28079 zip code), which includes the towns of Indian Trail, Stallings, Hemby Bridge, remained a home seller’s market in January 2022. 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 29.1% year-over-year. Pending sales also increased year-over-year, while closed sales decreased. Inventory dropped year-over-year, as well.
Average home prices increased 29.1% to $427,735 in January 2022 compared with the same month one year ago. Median home prices increased 31% to $451,000 year-over-year. Month-over-month, median home prices increased $26,000. Median home sale prices rose to their highest levels ever in January 2022.
Price per square foot averaged $180 (up $33/square foot from $147/square foot one year ago), increasing 22.4% year-over-year.
The months supply of homes for sale dropped to 0.7 months (down 36.4% from 1.1 months in January 2021 and down from 2.0 months in January 2020). New listings decreased 9.6% and inventory of homes dropped 34.5% year-over-year. Homes sold about as fast as they came on the market.
Closed sales in January 2022 decreased 2.1% year-over-year, while pending sales increased 10.3%. Lack of inventory no doubt had a negative impact on closed sales.
Average days on market were 18, down 14 days year-over-year and down 13 days month-over-month. Median days on market were just 5 in January (down from 6 days in January 2021 and down from 16 days in January 2020). All this speaks to pent-up buyer demand for Indian Trail homes.
At a median selling price of 101.9% of list price (up 1.9% from January 2021), Indian Trail home buyers should expect minimal room to negotiate, especially in Indian Trail’s hottest selling communities.
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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 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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