Indian Trail appears to have recovered nicely from the negative affects of the corona virus in March, April, and May. Year-over-year, home sales and home prices increased while days on market decreased. Housing inventory is razor-thin and Indian Trail will need a significant increase in inventory to maintain this pace of home sales in the coming months. But no doubt there’s been plenty of pent-up buyer demand for Indian Trail area homes.
Indian Trail (28079 Zip Code) Housing Market Update: June 2020
Latest news on how corona virus impacted the Indian Trail real estate market in June and what it means for you…
Indian Trail area (28079 zip code), which includes the towns of Indian Trail, Stallings, Hemby Bridge, saw a nice recovery in June 2020 from the spring months when the corona virus effect seriously depressed sales and home showings in the area. Closed sales and home prices increased over June 2019, while days on market and inventory dropped year-over-year.
Average home prices increased 6.2% to $306,849 in June 2020 compared with the same month one year ago. Median home prices increased 8.6% to $303,970 year-over-year. Price per square foot averaged $133 (up $5/square foot), increasing 4.7% year-over-year.
The months supply of homes for sale dropped to 1.5 months (down 42.3% from 2.6 months in June 2019). Inventory of homes also dropped 38.1% compared with the same month one year ago. New listings decreased in June — by 18.2% compared with the same time frame one year ago.
Closed sales in June increased 20.9% year-over-year, while pending sales increased 3.5%. The low inventory and fewer new listings, along with higher home prices and closed and pending sales are a testament to the recovery of the Indian Trail housing market after a dismal performance the past several months due to the pandemic.
Average days on market were 26 (down 13 days year-over-year). Median days on market were 8 (down 7 days year-over-year) in June. This, too, speaks to pent-up buyer demand and a recovery for the Indian Trail housing market in June 2020.
At a median selling price of 99.1% of list price (up 0.8% from June 2019, 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
June 2020 versus June 2019
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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
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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.
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