Indian Trail area (28079 zip code which includes the towns of Indian Trail, Stallings, Hemby Bridge) remained a seller’s market with just 1.6 months supply of homes in February 2020 and housing inventory down 27.4%. Closed sales increased 40% year-over-year and days on market were down. Clearly, there’s no slowdown in the demand for Indian Trail homes. Check out the hottest selling neighborhoods in Indian Trail.
Indian Trail (28079 Zip Code) Real Estate Report: February 2020
Latest news on the Indian Trail real estate market and what it means for you…
Indian Trail real estate report for February 2020. The Indian Trail, NC area includes the towns of Stallings, Hemby Bridge, and Lake Park in Union County in the 28079 zip code. With lower inventory, fewer days on market and fewer months supply of inventory, Indian Trail remained predominantly a seller’s market in February.
The Indian Trail area experienced small decreases in both average and median home sale prices in February 2020 compared with the same month in 2019. Average home prices decreased 2.5% to $274,163, while median home prices decreased 1.1% to $279,500 year-over-year. The small decrease in home prices is less reflective of a diminution in home values than of the price mix of homes that sold in February.
Price per square foot averaged $127 (up $11/square foot), increasing 9.5% year-over-year.
The months supply of homes for sale dropped to 1.6 months (down 36% from 2.5 months in February 2019). The months supply of homes also dropped month-over-month from 1.8 months in January 2020. Inventory of homes also dropped 27.4% compared with the same month one year ago.
New listings increased slightly in February — by 6.6% compared with the same time frame one year ago. Closed sales in February increased 40% year-over-year, while pending sales increased 19%.
Average days on market were 59 (down 7 days) and median days on market were 32 (down 27 days year-over-year) in February. Indian Trail homes continue to sell quickly.
At a median selling price of 98.2% of list price, Indian Trail buyers should expect minimal room to negotiate, especially in Indian Trail’s hottest communities where the discount hovered around 99%.
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Indian Trail Housing Market Highlights: February 2020 vs February 2019
Median Home Price Trends In Indian Trail Area
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Previous Indian Trail Housing Market Updates
Whether You’re Buying Or Selling An Indian Trail Home…
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This Charlotte, North Carolina real estate monthly update for Indian Trail is provided by Nina Hollander and Carolinas Realty Partners with Coldwell Banker Residential Brokerage, your Indian Trail area specialists and Charlotte metro area residential real estate experts. We’ve been opening doors for Indian Trail area home buyers and sellers for 20+ years.
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- Indian Trail (28079 Zip Code) Real Estate Report: February 2020
- Indian Trail Housing Market Highlights: February 2020 vs February 2019
- Median Home Price Trends In Indian Trail Area
- Find Your Indian Trail Dream Home
- What's Your Indian Trail Area Home Worth?
- Previous Indian Trail Housing Market Updates
- Whether You're Buying Or Selling An Indian Trail Home...