Indian Trail has fully recovered from the negative affects of the corona virus we saw in spring 2020. Year-over-year, home prices increased, while days on market decreased. Housing inventory is razor-thin with less than a one month’s supply of homes. Indian Trail homes are selling as fast as they are come on the market, on average in about one week.
Indian Trail (28079 Zip Code) Housing Market Update: June 2021
Latest news on the Indian Trail real estate market in June 2021 and what it means for you…
Indian Trail area (28079 zip code), which includes the towns of Indian Trail, Stallings, Hemby Bridge has totally recovered from the effects of the pandemic and is without doubt a home seller’s market. Home prices increased by double digits over June 2020, while days on market and inventory dropped significantly year-over-year.
Average home prices increased 22.2% to $375,717 in June 2021 compared with the same month one year ago. Average home prices were also up $23,000 month-over-month. Median home prices increased 19.7% to $370,000 year-over-year. Price per square foot averaged $161 (up $28/square foot), increasing 21.1% year-over-year.
The months supply of homes for sale dropped to 0.8 months (down 57.9% from 1.9 months in June 2020 and down from 2.6 months in June 2019). Inventory of homes also dropped 57.2% compared with the same month one year ago. New listings increased in June — by 19.4% compared with the same time frame one year ago. Despite the increase in new listings, inventory of homes dropped and remained low.
Closed sales in June 2021 decreased 9.1%, while pending sales increased 24.7%. Lack of inventory most likely contributed to the drop in closed sales.
The low inventory coupled with higher home prices and increased 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 in 2020.
Average days on market were 8 (down 19 days year-over-year and down 11 days month-over-month). Median days on market were just 3 (down 4 days year-over-year) in June. This, too, speaks to pent-up buyer demand and a recovered market for the Indian Trail housing market in June 2021.
At a median selling price of 104.6% of list price (up 5.5% from June 2020), Indian Trail home buyers should expect minimal room to negotiate, especially in Indian Trail’s hottest selling communities.
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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, 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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