Indian Trail has recovered from the negative affects of the corona virus we saw early in 2020. Year-over-year, home prices increased by double digits, while days on market decreased 46 days. Housing inventory is razor-thin with a month’s supply of homes just barely over one-half month. Lack of inventory has caused a drop in closed and pending sales.
Indian Trail (28079 Zip Code) Housing Market Update: February 2021
Latest news on the Indian Trail real estate market in February and what it means for you…
Indian Trail area (28079 zip code), which includes the towns of Indian Trail, Stallings, Hemby Bridge has totally recovered from the effects of the pandemic. Home prices increased over February 2020, while days on market and inventory dropped significantly year-over-year.
Average home prices increased 18.1% to $330,316 in February 2021 compared with the same month one year ago. Median home prices increased 14.7% to $323,000 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 0.6 months (down 70% from 2 months in February 2020). Inventory of homes also dropped 68.7% compared with the same month one year ago. New listings decreased in February — by 34.5% compared with the same time frame one year ago.
Closed sales in February decreased 23.3%, while pending sales decreased 15.3%. With so little inventory, it’s no wonder that neither closed nor pending sales increased in February.
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 10 (down 46 days year-over-year). Median days on market were just 2 (down 26 days year-over-year) in February. This, too, speaks to pent-up buyer demand and a continued recovery for the Indian Trail housing market in February 2021.
At a median selling price of 101.9% of list price (up 3.7% from February 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?
Median Home Sale Prices Trends For: Indian Trail, Stallings, Hemby Bridge
This Charlotte, North Carolina real estate monthly update for Indian Trail area in the 28079 zip code is provided by Nina Hollander and Carolinas Realty Partners, Coldwell Banker Realty, your Charlotte metro area residential real estate experts and Indian Trail specialists. We’ve been opening doors for Indian Trail area home buyers and sellers for 20+ years.
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 how: