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 March 2020 and housing inventory down 28.5% versus March 2019. Closed and pending sales were down year-over-year, but home sale prices were up. Days on market were down substantially. There seems to be no slowdown in the demand for Indian Trail homes in the first quarter of 2020.
Indian Trail (28079 Zip Code) Real Estate Report: March 2020
Latest news on the Indian Trail real estate market and what it means for you…
Indian Trail real estate report for March 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 March.
The Indian Trail area experienced increases in both average and median home sale prices in March 2020 compared with the same month in 2019. Average home prices increased 2.7% to $300,454, while median home prices increased 7.9% to $309,750 year-over-year. Both average and median home sale prices increased month-over-month.
Price per square foot averaged $130 (up $13/square foot), increasing 11.1% year-over-year.
The months supply of homes for sale dropped to 1.6 months (down 33.9% from 2.4 months in March 2019). Inventory of homes also dropped 28.5% compared with the same month one year ago.
New listings decreased in March — by 2.2% compared with the same time frame one year ago. Closed sales in March decreased 5.8% year-over-year, while pending sales decreased 4.8%. At this point in time it’s impossible to say how much of the decrease was a result of low inventory and if/how much was as a result of shelter-at-home orders in North Carolina, which came into effect in the last week of March.
Average days on market were 48 (down 9 days year-over-year) and median days on market were 10 (down 19 days year-over-year) in March. Month-over-month, average days on market dropped by 11 days, while median days on market dropped by 22 days. Indian Trail homes continue to sell quickly.
At a median selling price of 98.6% 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: March 2020 vs March 2019
Median Home Price Trends In Indian Trail Area
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Previous Indian Trail Housing Market Updates
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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: March 2020
- Indian Trail Housing Market Highlights: March 2020 vs March 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...