Indian Trail real estate saw a continued cooling trend year-over-year in February 2023 with increasing days on market and inventory and fewer new listings. Month-over-month, inventory was down, however. At the same time, home prices increased year-over-year and month-over-month. With a 4.1% decrease in the list to sale price ratio year-over-year to 97.8%, Indian Trail home buyers are seeing an opportunity to negotiate on price.
Indian Trail Real Estate Update: February 2023
Indian Trail area (28079 zip code), which includes the towns of Indian Trail, Stallings, and Hemby Bridge, continued to show signs of a cooling market with sales down, days on market up, list to sale prices ratio down, and inventory up year-over-year. At the same time, average home prices increased and new listings decreased year-over-year.
Indian Trail Area Housing Market Highlights: February 2023
INDIAN TRAIL HOME SALE PRICES INCREASED YEAR-OVER-YEAR & MONTH-OVER-MONTH
Average home prices in Indian Trail increased 2.94% to $463,643 from $450,400 in January 2023. Compared with February 2022, home prices in Indian Trail increased 6.3% from $436,234. The February 2023 average sale price was at its highest level compared with February 2022 and February 2021.
Median home prices increased to $445,000 in February 2023 by 4.7% from $425,185 in January 2023. The median home price also increased 9.74% year-over-year from $405,500 in February 2022. The median sale price in February was the highest compared with February 2022 and February 2021.
Price per square foot averaged $193 in February, equal to the previous month and 1.6% higher than the $190 per square foot in February 2022.
INDIAN TRAIL HOUSING INVENTORY DECREASED MONTH-OVER-MONTH BUT HIGHER YEAR-OVER-YEAR | NEW LISTINGS DOWN
The number of properties for sale in February 2023 was 182, down 3.2% from January 2023 and 50.4% higher than the 121 properties for sale one year ago in February 2022. The number of properties for sale in February 2023 was at its highest level compared with February 2022 and February 2021. Inventory of homes for sale at its lowest since June 2022.
New listings increased 43.6% in February 2023 to 56 from 39 listings in January 2023. New listings were 26.3% lower than the 76 listings we saw one year ago in February 2022. February’s new listings were at their lowest compared to February 2022 (76 listings) and February 2021 (61 listings).
INDIAN TRAIL SALES DOWN YEAR-OVER-YEAR | UP MONTH-OVER-MONTH
Sales in February 2023 increased 21.6% to 45 compared with the previous month of January 2023. Sales were 16.7% lower than in February 2022 which had 54 sales. The February 2023 sales were at their lowest level compared with February 2022 (54 sales) and February 2021 (48 sales).
DAYS ON MARKET UP YEAR-OVER-YEAR | DOWN MONTH-OVER-MONTH
Average days on market decreased 10 days to 43 days in February compared with January 2023. Compared with February 2022, days on market increased 104.8% from 21 days. The February 2023 days on market were at their highest level compared with February 2022 (21 days) and February 2021 (20 days).
LIST TO SALE PRICE RATIO
The list to sale price ratio in February 2023 was 97.8%, equal to January 2023. However, the list to sale price ratio in February 2023 was 4.08% lower than what we saw in February one year ago when it was 101.9%.
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 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 22+ 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: