Indian Trail Real Estate April 2020

Indian Trail real estate includes the towns of Stallings, Hemby Bridge, and Lake Park in Union County in the 28079 zip code. Corona virus restrictions impacted the Indian Trail housing market in April as evidenced by lower inventory, fewer days on market, fewer months supply of inventory, fewer new listings. Closing and pending sales also dropped due to fewer home showings during the month.

Average home prices increased 4.2% to $299,087 in April 2020 compared with the same month one year ago. Median home prices were essentially flat at $278,000 (down 0.07%) year-over-year. Price per square foot averaged $138 (up $12/square foot), increasing 9.5% year-over-year.

The months supply of homes for sale dropped to 1.6 months (down 33.3% from 2.4 months in April 2019). Inventory of homes also dropped 30.9% compared with the same month one year ago. New listings decreased in April — by 43.3% compared with the same time frame one year ago. April would typically be a month when we see these numbers go up for the spring selling season.

Closed sales in April decreased 36% year-over-year, while pending sales decreased 35%. With home showings in April 2020 down to 415 showings compared with 1,188 showings in April 2019, it’s not surprising that sales were down.

Average days on market were 23 (down 42 days year-over-year).  Median days on market were 4 (down 17 days year-over-year) in April. Month-over-month, average days on market dropped by 25 days, while median days on market dropped by 7 days.  

At a median selling price of 99.4% of list price (up 2.4% from April 2019), Indian Trail 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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