Indian Trail Real Estate: March 2022
Indian Trail real estate March 2022 remained a home seller’s market with both average and median home sale prices increasing 39.5% and 34.4%, respectively over March 2021. Pending sales were up, although closed sales were flat despite an increase in new listings. Inventory was down 24% year-over-year, also despite an increase in new listings. Home sellers saw 101.2% of list price in final sale price in March.
Latest news on Indian Trail real estate in March 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 March 2022. In fact, it’s been more than six years since Indian Trail could be considered a balanced market, much less a home buyer’s market. Home prices increased 39.5% year-over-year. Pending sales also increased 15.5% year-over-year, while closed sales were flat. Inventory dropped year-over-year — 24% lower than one year ago in March.
Average home prices increased 39.5% to $450,631 in March 2022 compared with the same month one year ago. Home prices also increased month-over-month and were almost $147,000 higher in March 2022 compared with March 2020. Median home prices increased 34.4% to $430,00 year-over-year. Month-over-month, median home sale prices also increased and were $120,000 higher in March 2022 than in March 2020.
Price per square foot averaged $195 (up $40/square foot from $155/square foot one year ago), increasing 25.8% year-over-year.
The months supply of homes for sale dropped to 0.7 months (down 30% from 1 month in March 2021 and down from 1.9 months in March 2020). New listings increased 42.9%, but inventory of homes dropped 24% year-over-year, nonetheless. Homes sold about as fast as they came on the market.
Closed sales in March 2022 were flat year-over-year despite the increased in new listings, while pending sales increased 15.5%.
Average days on market were 16, up four days year-over-year. Median days on market were just 3 in March 2022 (up one day compared with March 2021 and down one day month-over-month).
At a median selling price of 101.2% 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 Indian Trail real estate monthly update is provided by Nina Hollander with 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 since 1999.
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:
“The Right Broker Makes All The Difference.”
