Indian Trail real estate saw continued cooling year-over-year in March 2023 with increasing days on market and inventory and fewer new listings. Month-over-month, inventory was down, however. Home prices declined year-over-year and month-over-month. With a 4.6% decrease in the list to sale price ratio year-over-year to 98.01%, Indian Trail home buyers are seeing an opportunity to negotiate on price.
Indian Trail Real Estate Update: March 2023
Indian Trail Area (28079 Zip Code) Housing Market Highlights: March 2023
INDIAN TRAIL HOME SALE PRICES DECLINED YEAR-OVER-YEAR & MONTH-OVER-MONTH
Average home price in Indian Trail declined 9.94% to $422,023 from $468,594 in February 2023. Compared with March 2022, average home price in Indian Trail declined 6.42% from $450,959. Average home price remained higher compared with March 2021.
Median home price declined to $395,000 in March 2023 by 11.24% from $445,000 in February 2023. The median home price also declined 9.06% year-over-year from $434,352 in March 2022. The median sale price remained higher compared with March 2021.
Price per square foot averaged $196 in March, increasing 1.55% from $193 per square foot in February 2023 and equal to the price per square foot one year ago in March 2022.
INDIAN TRAIL HOUSING INVENTORY DECREASED MONTH-OVER-MONTH BUT HIGHER YEAR-OVER-YEAR | NEW LISTINGS DOWN
The number of properties for sale in March 2023 was 164, down 10.87% from February 2023 and 16.31% higher than the 141 properties for sale one year ago in March 2022. The number of properties for sale in March 2023 was at its highest level compared with March 2022 and March 2021. Inventory of homes for sale was at its lowest since April 2022.
New listings increased 21.43% in March 2023 to 68 from 56 listings in February 2023. New listings were 43.33% lower than the 120 listings we saw one year ago in March 2022. March new listings were at their lowest compared to March 2022 (68 listings) and March 2021 (77 listings).
INDIAN TRAIL SALES DOWN YEAR-OVER-YEAR | UP MONTH-OVER-MONTH
Sales in March 2023 increased 21.28% to 57 compared with 47 sales in the previous month of February 2023. Sales were 28.75% lower than in March 2022 which had 80 sales. The March 2023 sales were at their lowest level compared with March 2022 (80 sales) and March 2021 (77 sales).
DAYS ON MARKET UP YEAR-OVER-YEAR & MONTH-OVER-MONTH
Average days on market increased 15 days to 63 days in March compared with February 2023. Compared with March 2022, days on market increased 45 days from 19 days. The March 2023 days on market were at their highest level compared with March 2022 (19 days) and March 2021 (19 days). The March 2023 days on market were the highest Indian Trail has seen in three years.
LIST TO SALE PRICE RATIO
The list to sale price ratio in March 2023 was 98.01%, marginally higher than in February 2023. However, the list to sale price ratio in March 2023 was 4.57% lower than what we saw in March one year ago when it was 102.58%.
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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 24+ years.
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