Indian Trail Real Estate May 2020

Latest news on the Indian Trail real estate market and what it means for you…

Indian Trail real estate report for May 2020. The Indian Trail, NC area 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 May as evidenced by lower inventory, fewer months supply of inventory, fewer new listings. Closing and pending sales also dropped.

Average home prices increased 10% to $307,962 in May 2020 compared with the same month one year ago and also rose month-over-month. Median home prices were increased 7.5% year-over-year to $299,950 and also increased month-over-month. Price per square foot averaged $138 (up $15/square foot), increasing 12.2% year-over-year.

The months supply of homes for sale dropped to 1.6 months (down 38.5% from 2.6 months in May 2019). Inventory of homes also dropped 36% compared with the same month one year ago. New listings decreased in May — by 30.3% compared with the same time frame one year ago. May would typically be a month when we see these numbers go up for the spring selling season.

Closed sales in May decreased 44.2% year-over-year, while pending sales decreased 10.5%. While home showings in May improved over April’s showings (836 showings versus 415 in April 2020), they were still lower than the 1,116 showings in May 2019. Between the lack of inventory and lower showings, it’s not surprising that sales were down.

Average days on market were 55 (up 22 days year-over-year).  Median days on market were 16 (up 7 days year-over-year) in May. 

At a median selling price of 99% of list price, Indian Trail home 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?

I can help.

Call me today at 704-779-0813 orcontact me here.

There’s absolutely NO OBLIGATION. A consultation with Nina Hollander is FREE. 

Indian Trail Real Estate May 2020 vs May 2019 Highlights

WHAT’S YOUR INDIAN TRAIL AREA HOME WORTH?

Wondering what your Indian Trail area home is worth in today’s market? Find out by clicking on the picture below.  

If you’re thinking about selling your Indian Trail area home, let’s get together and discuss the supply conditions in your neighborhood and how we can assist you in gaining access to buyers who area ready, willing, and able to buy now.

 

 

Contact me if you’d like to receive our Neighborhood Analyzer Report on a monthly basis so you can keep track of home sales activity in your neighborhood.

Note: If you don’t see your subdivision or complex, or the data looks incomplete, it’s because there weren’t enough properties sold in a given year.

I’m happy to provide this information with no obligation on your part.

FREE Home Seller Guide: “Things To Consider When Selling Your House”