Indian Trail remained a home seller’s market in August 2021. Year-over-year, home prices increased, while days on market decreased. Housing inventory was razor-thin with less than a one month’s supply of homes, despite an increase in new listings. Indian Trail homes sold as fast as they came on the market.
Indian Trail (28079 Zip Code) Housing Market Update: August 2021
Latest news on the Indian Trail real estate market in August 2021 and what it means for you…
Indian Trail area (28079 zip code), which includes the towns of Indian Trail, Stallings, Hemby Bridge remains a home seller’s market. In fact, it’s been six years since Indian Trail could be considered a balanced market. Home prices increased by double digits over August 2020, as did pending sales. Meantime, days on market and inventory dropped significantly year-over-year, despite an increase in new listings in August.
Average home prices increased 21.2% to $363,856 in August 2021 compared with the same month one year ago. Average home prices have increased almost $100,000 since August 2019. Median home prices increased 18.6% to $362,000 year-over-year, with median home prices about $108,000 higher than two years ago. Price per square foot averaged $166 (up $27/square foot), increasing 19.4% year-over-year.
The months supply of homes for sale dropped to 0.8 months (down 52.9% from 1.7 months in August 2020 and down from 2.6 months in August 2019). Inventory of homes also dropped 44.6% compared with the same month one year ago. New listings increased in August — by 25.5% compared with the same time frame one year ago. Despite the increase in new listings, inventory of homes dropped and remained low. Homes sold as fast as they came on the market.
Closed sales in August 2021 were flat year-over-year, while pending sales increased 23.0%. The increase in new listings most likely increased the pending sales.
Average days on market were 13 (down 19 days year-over-year). Median days on market were just 4 (down 3 days year-over-year and down 6 days from August 2019) in August. During August, homes listed for sale had 13.7 showings, an increase of 5.5% over August 2020. All this speaks to pent-up buyer demand for Indian Trail homes.
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: