Indian Trail, NC Real Estate Report: February 2022
Indian Trail remained a home seller’s market in February 2022 with both average and median home sale prices increasing 28.8% and 22%, respectively over February 2021. Pending sales were up significantly. Closed sales were also up. Inventory was down by almost 50% year-over-year. Home sellers saw 101.3% of list price in final sale price in February.
Indian Trail (28079 Zip Code) Housing Market Update: February 2022
Latest news on the Indian Trail real estate market in February 2022 and what it means for you…
Indian Trail area (28079 zip code), which includes the towns of Indian Trail, Stallings, Hemby Bridge, remained a home seller’s market in February 2022. In fact, it’s been six years since Indian Trail could be considered a balanced market, much less a home buyer’s market. Home prices increased 28.8% year-over-year. Pending sales also increased significantly year-over-year, while closed sales increased, as well. Inventory dropped year-over-year — almost 50% lower than one year ago in February.
Average home prices increased 28.8% to $427,735 in February 2022 compared with the same month one year ago. Median home prices increased 22% to $402,500 year-over-year. Month-over-month, average home sale prices also increased.
Price per square foot averaged $189 (up $45/square foot from $144/square foot one year ago), increasing 31.3% year-over-year.
The months supply of homes for sale dropped to 0.5 months (down 50% from 1 month in February 2021 and down from 2.0 months in February 2020). Month-over-month, the supply of homes dropped 0.2 months. New listings increased 27.4%, but inventory of homes dropped 48.7% year-over-year. Homes sold about as fast as they came on the market.
Closed sales in February 2022 increased 12% year-over-year, while pending sales increased 60%, thanks to an increase in new listings in February.
Average days on market were 19, flat year-over-year and down 37 days compared with February 2020. Median days on market were just 4 in February (up one day compared with February 2021 and down from 28 days in February 2020). Month-over-month, median days on market were one day lower than in January 2022. All this speaks to pent-up buyer demand for Indian Trail homes.
The number of showings per listing are also an indicator of demand for homes. The average Indian Trail home was shown 21.9 times in February 2022, up 17.7% over February 2021. This compares with 18.6 showings in February 2021 and 9.3 showings per home in February 2020.
At a median selling price of 101.3% of list price, Indian Trail home buyers should expect minimal room to negotiate, especially in Indian Trail’s hottest selling communities.
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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 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 why experience matters and how:
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