Indian Trail real estate July 2023 saw softening home prices, low inventory, fewer new listings and sales. Days on market declined for a sixth consecutive month to their lowest level since August 2022. List to sale price ratio was just under 100%. With 2.52 months supply of inventory, Indian Trail home sellers remained in the “driver’s seat.”
Indian Trail Real Estate: July 2023
Indian Trail Real Estate July 2023 Housing Market Highlights
INDIAN TRAIL HOME SALE PRICES SOFTENED MONTH-OVER-MONTH & YEAR-OVER-YEAR
Average home sale price in Indian Trail at $435,767 decreased 7.51% from $471,155 in the previous month of June. The average sale price was 2.65% lower than the $447,645 in July 2022.
Median home sale price declined 11.76% to $397,500 in July 2023 from $450,495 in June 2023. Compared with July 2022, median sale price decreased 4.22% from $415,000.
Price per square foot averaged $208 in July 2023, flat compared with the previous month of June. Price per square foot was 2.46% higher than $203 in July 2022. July’s price per square foot was the highest since August 2020.
INDIAN TRAIL HOUSING INVENTORY REMAINED LIMITED
The number of properties for sale in July 2023 was 169, equal to the inventory in the prior month of June. Inventory was 27.78% lower than in July 2022 when inventory stood at 234 homes. With the months supply of homes at 2.52, home sellers were in the “driver’s seat” in July.
NEW LISTINGS DOWN FROM ONE YEAR AGO & FROM ONE MONTH AGO
New listings declined 17.5% in July 2023 to 66 from 80 listings in June 2023. New listings were 37.74% lower than the 106 new listings we saw one year ago in July 2022. July 2023 new listings were at their lowest compared to July 2022 (106 new listings) and July 2021 (100 new listings).
INDIAN TRAIL HOME SALES DECLINED YEAR-OVER-YEAR & MONTH-OVER-MONTH
Sales in July 2023 declined 11.84% to 67 compared with 76 sales in the previous month of June 2023. Sales were 14.1% lower than in July 2022 which had 78 sales. The July 2023 sales were at their lowest level compared with July 2022 (78 sales) and July 2021 (92 sales).
DAYS ON MARKET DECLINED A SIXTH CONSECUTIVE MONTH
Average days on market declined 11 days to 24 days in July compared with June 2023. Compared with July 2022, days on market increased nine days from 15 days. The July 2023 days on market were at their highest level compared with July 2022 (15 days) and July 2021 (8 days). By the same token, July’s days on market were at their lowest level since August 2022 when the DOM were 19.
LIST TO SALE PRICE RATIO JUST UNDER 100%
The list to sale price ratio in July 2023 was 99.79%, essentially equal to the 99.63% in the prior month of June. The list to sale price ratio in July 2023 was 1.72% lower than what we saw in July one year ago when it was 101.51%.
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, Coldwell Banker Realty, Greater Charlotte residential real estate expert and Indian Trail specialist. I’ve been opening doors for Indian Trail area home buyers and sellers for 24+ 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: