Indian Trail remained a home seller’s market in May2022 with both average and median home sale prices increasing 32.5% and 26%, respectively, over May 2021, setting new record highs for home sale prices. Homes continued to sell — quickly in 17 days on average. Sellers received 102.1% of list price in sale price.
Indian Trail (28079 Zip Code) Housing Market Update: May 2022
Latest news on the Indian Trail real estate market in May 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 May 2022. In fact, it’s been more than six years since Indian Trail could be considered a balanced market, much less a home buyer’s market. Home sale prices increased 32.5%, on average, year-over-year. Both average and median home sale prices set new record highs in May 2022.
Average home prices increased 32.5% to $465,341 in May 2022 compared with the same month one year ago. Month-over-month, home prices increased about $39,000, on average. Home prices were approximately $157,000 higher in May 2022 compared with May 2020. Median home prices increased 26.0% to $456,900 year-over-year. Month-over-month, median home sale prices also increased approximately $33,000 and were $155,000 higher in May 2022 than in May 2020. Clearly, Indian Trail homeowners are sitting on a lot of equity.
Price per square foot averaged $204 (up $43/square foot from $161/square foot one year ago), increasing 26.7% year-over-year and setting a new record for price per square foot for Indian Trail homes.
The months supply of homes for sale dropped to 1.0 months (down from 1.1 months in May 2021 and down from 1.9 months in May 2020). Month-over-month, the months supply of homes was 0.4 months higher. New listings increased 11.2% and inventory of homes increased 3.7% year-over-year. Nonetheless, homes sold about as fast as they came on the market, averaging just 17 days on market.
Closed sales in May 2022 increased 7.4% year-over-year, while pending sales decreased 12.4%.
Average days on market were 17, down two days year-over-year, but up two days month-over-month. Median days on market were just 4 in May 2022.
At a median selling price of 102.1% of list price, Indian Trail home buyers should expect minimal room to negotiate, especially in Indian Trail’s hottest selling communities.
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Indian Trail Area Housing Market Highlights
May 2022 vs May 2021
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And 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 Greater Charlotte 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 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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