Indian Trail Real Estate: December 2022

 

Latest news on the Indian Trail real estate market in December 2022 and what it means for you…

Indian Trail area (28079 zip code), which includes the towns of Indian Trail, Stallings, and Hemby Bridge, continued to show signs of a cooling market with average home sale prices down year-over-year for a second consecutive month, pending and closed sales down, median list to sale price ratio down, foot traffic in listed properties down, days on market up, and inventory up dramatically for a fourth consecutive month.

 

 

 Indian Trail Area Housing Market Highlights

December 2022 vs December 2021

 

 

INDIAN TRAIL HOME SALE PRICES DECREASED YEAR-OVER-YEAR 

Average home prices in Indian Trail decreased 2.7% to $436,367 in December 2022 compared with the same month one year ago. Month-over-month, average home sale prices increased slightly (approximately $3,500). Indian Trail home prices were approximately $96,000 higher in December 2022 compared with December 2020. 

 

Median home prices decreased 4.7% to $404,990 year-over-year. Month-over-month, median home sales were about $25,000 lower.  Median home sale prices were approximately $93,000 higher in December 2022 than in December 2020.  

 

Price per square foot averaged $202 (up $21/square foot from $181/square foot one year ago). 

 

INDIAN TRAIL HOUSING INVENTORY INCREASED IN DECEMBER 2022 |  NEW LISTINGS DECREASED

The months supply of homes for sale increased year-over-year to 1.7 months (up from 0.9 months in December 2021). Month-over-month, the months supply of homes decreased by 0.4 months. 

 

New listings decreased 13.5%, while inventory of homes increased 57.9% year-over-year. 

 

It appears that Indian Trail area home buyers continued to pull back in December 2022 to reassess purchase plans in the face of increasing mortgage rates and economic uncertainties.

 

INDIAN TRAIL CLOSED & PENDING SALES DOWN IN DECEMBER 2022

Closed sales in December 2022 decreased 25.4% year-over-year, while pending sales decreased 7.4% (equal to four fewer pending home sales).

 

Another sign of the market cooling in December 2022 was the foot traffic through home listings, which was down to an average of 4.8 showings per listing compared with 10.9 showings in December 2021. Essentially, there was 56% less traffic through listed properties than one year ago.  Month-over-month, foot traffic was slightly lower, dropping from 5.1 average showings per listing to 4.8 showings.

 

DAYS ON MARKET INCREASED IN DECEMBER 2022 YEAR-OVER-YEAR & MONTH-OVER-MONTH

Average days on market increased 13 days to 45 days in December 2022 compared with December 2021. This was the highest number of average days on market in 2022. Average days on market were 13 days higher than in November 2022.

Year-over-year median days on market increased 25 days to 29 days in December 2022. Month-over-month median days on market increased 12 days. This is the highest median number of days on market in Indian Trail area year-to-date in 2022.

 

LIST TO SALE PRICE RATIO DOWN FOR A 5TH CONSECUTIVE MONTH IN DECEMBER 2022

The median list to sale price decreased for a fifth consecutive month in December 2022, At a median selling price of 96.4% of list price (down 5.9% year-over-year and down 0.2% month-over-month), Indian Trail home buyers now have a window of opportunity to negotiate on price Nonetheless, Indian Trail area home buyers but should still expect minimal room to negotiate in Indian Trail’s hottest selling communities. 

 

Want to know what this would mean for your family if you decide to buy or sell an Indian Trail area home?

 

We can help.

Call us today at 704-779-0813 or contact us here.

There’s absolutely NO OBLIGATION. A consultation with Carolinas Realty Partners is FREE. 

 

 

 

 MORE DETAILS ABOUT INDIAN TRAIL’S HOUSING MARKET PERFORMANCE

 

MORE DETAILS ABOUT STALLING’S HOUSING MARKET PERFORMANCE

 

 

Indian Trail, NC is ranked as one of America’s 50 Top Small Cities To Live In

CHECK OUT THE…

10 HOTTEST SELLING INDIAN TRAIL NEIGHBORHOODS 

 

 

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?

 

SEARCH INDIAN TRAIL  HOMES  FOR  SALE

 

FREE Home Buyer Guide: “Things To Consider When Buying A Home”

 

WONDERING WHAT YOUR INDIAN TRAIL, NC HOME IS WORTH?

 

 

FREE Home Seller Guide: “Things To Consider When Selling Your House”

 

THINKING OF SELLING YOUR HOME? CHECK OUT THE COLDWELL BANKER MARKETING ADVANTAGE 

 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:

 “The Right Broker Makes All The Difference.”