Indian Trail has recovered well from the negative affects of the corona virus we saw 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: September 2020
Latest news on the Indian Trail real estate market in September and what it means for you…
Indian Trail area (28079 zip code), which includes the towns of Indian Trail, Stallings, Hemby Bridge appears to have recovered from the initial effects of the pandemic. Closed sales and home prices increased over September 2019, while days on market and inventory dropped year-over-year.
Average home prices increased 9.2% to $300,297 in September 2020 compared with the same month one year ago. Median home prices increased 13.2% to $298,945 year-over-year. Price per square foot averaged $142 (up $14/square foot), increasing 10.9% year-over-year.
The months supply of homes for sale dropped to 1.2 months (down 52% from 2.5 months in September 2019). Inventory of homes also dropped 50.6% compared with the same month one year ago. New listings increased in September very slightly — by 1.2% compared with the same time frame one year ago.
Closed sales in September increased 9.3% year-over-year, while pending sales increased 13.3%. The low inventory 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 in the first couple of months of the pandemic.
Average days on market were 25 (down 1 day year-over-year). Median days on market were 4 (down 4 days year-over-year) in September. This, too, speaks to pent-up buyer demand and a continued recovery for the Indian Trail housing market in September 2020.
At a median selling price of 100% of list price (up 1.7% from September 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
September 2020 versus September 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
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.
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 how:
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