Indian Trail remained a home seller’s market in November 2021 with both average and median home sale prices rising to their HIGHEST EVER levels. Despite an increase in new listings, Indian Trail housing inventory remained low with just 0.7 moths of housing inventory.
Indian Trail (28079 Zip Code) Housing Market Update: November 2021
Latest news on the Indian Trail real estate market in November 2021 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 November 2021. 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 43.7% year-over-year and Indian Trail saw the highest average home prices in its history in November. Pending sales also increased year-over-year. Inventory dropped year-over-year, despite an increase in new listings in November.
Average home prices increased 43.7% to $410,765 in November 2021 compared with the same month one year ago. Average home prices also increased month-over-month by almost $55,000. Median home prices increased 28.9% to $412,300 year-over-year. Month-over-month, home median home prices increased about $23,000. Both average and median home sale prices rose to their highest levels ever in November 2021.
Price per square foot averaged $196 (up $55/square foot), increasing 39% year-over-year. This is the highest price per square foot Indian Trail has ever seen.
The months supply of homes for sale dropped to 0.7 months (down 41.7% from 1.2 months in November 2020 and down from 2.3 months in November 2019). The months supply of inventory was also 0.1 months lower than in October 2021. Despite a 36.2% increase in new listings, inventory of homes dropped 33.7% year-over-year. Homes sold about as fast as they came on the market.
Closed sales in November 2021 decreased 9.8% year-over-year, while pending sales increased 22.6%. Lack of inventory no doubt had a negative impact on closed sales.
Average days on market were 24 (flat year-over-year and down one day month-over-month). Median days on market were just 3 in November (flat year-over-year and down 19 days from November 2019). During November, homes listed for sale had 12.1 showings on average, an increase of 10% from 11 showings over November 2020 and 6.3 showings in November 2019. All this speaks to pent-up buyer demand for Indian Trail homes.
At a median selling price of 102% of list price (up 1.6% from November 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.
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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