Indian Trail Real Estate January 2021
INDIAN TRAIL REAL ESTATE JANUARY 2021 REPORT
Latest news on the Indian Trail real estate market in January 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 earlier in the year. Home prices increased over January 2020, while days on market and inventory dropped significantly year-over-year. Housing inventory is razor-thin and Indian Trail will need a significant infusion of new inventory to maintain this pace of home sales in the coming months. No doubt there’s plenty of pent-up buyer demand for Indian Trail area homes.
Average home prices increased 12% to $329,160 in January 2021 compared with the same month one year ago. Median home prices increased 16.9% to $345,000 year-over-year. Price per square foot averaged $147 (up $20/square foot), increasing 15.7% year-over-year.
The months supply of homes for sale dropped to 0.9 months (down 55% from 2 months in January 2020). Inventory of homes also dropped 56.5% compared with the same month one year ago. New listings increased in January– by 27.7% compared with the same time frame one year ago.
Closed sales in January decreased 8.7%, while pending sales increased 22%. With so little inventory, it’s no wonder that closed sales did not increase.
The low inventory together with higher home prices 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 32 (down 18 days year-over-year). Median days on market were just 4 (down 12 days year-over-year) in January. This, too, speaks to pent-up buyer demand and a continued recovery for the Indian Trail housing market in January 2021.
At a median selling price of 100% of list price (up 2.8% from January 2020), Indian Trail home buyers should expect minimal room to negotiate, especially in Indian Trail’s hottest communities.
Want to know what this would mean for your family if you decide to buy or sell an Indian Trail area home?
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MORE DETAILS ABOUT INDIAN TRAIL’S HOUSING MARKET PERFORMANCE
MORE DETAILS ABOUT STALLING’S HOUSING MARKET PERFORMANCE
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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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This Charlotte, North Carolina monthly update for Indian Trail real estate in the 28079 zip code is provided by Nina Hollander with Coldwell Banker Realty, Greater Charlotte area residential real estate expert and Indian Trail specialist. I’ve been opening doors for Indian Trail home buyers and sellers since 1999.
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.”