Indian Trail real estate in May 2023 saw a reverse of the rebound in April with both home sales and the list to sale price ratio declining. Home prices increased slightly. Days on market declined for a third consecutive month. New listings decreased 19% from one year ago, but increased 37+% from April 2023.
Indian Trail Real Estate Update: May 2023
Indian Trail Area (28079 Zip Code) Housing Market Highlights: May 2023
INDIAN TRAIL HOME SALE PRICES SAW A SLIGHT INCREASE IN MAY
Average home sale price in Indian Trail increased 1.96% in May to $464,084 from $455,172 in April 2023. The average sale price was 1.42% lower than the $470,746 in May 2022.
Median home sale price increased 1.64% to $452,545 in May 2023 from $445,242 in April 2023. The median home price was equal to that one year ago in May and higher than May 2021.
Price per square foot averaged $201 in May, increasing 1.01% from $199 per square foot in April 2023 and 1.47% lower than $204 in May 2022.
INDIAN TRAIL HOUSING INVENTORY INCREASED BY 5 HOMES
The number of properties for sale in May 2023 was 168, up 3.07% from April 2023 and was equal to the number of properties for sale one year ago in May. This was the second lowest level of inventory in Indian Trail since May 2022.
NEW LISTINGS DOWN 19% FROM ONE YEAR AGO, BUT UP 37+% FROM APRIL 2023
New listings increased 37.29% in May 2023 to 81 from 59 listings in April 2023. New listings were 19% lower than the 100 listings we saw one year ago in May 2022. May 2023 new listings were at their lowest compared to May 2022 (100 listings) and May 2021 (94 listings).
INDIAN TRAIL HOME SALES DECLINED MONTH-OVER-MONTH & YEAR-OVER-YEAR
Sales in May 2023 declined 19.44% to 58 compared with 72 sales in the previous month of April 2023. Sales were 34.09% lower than in May 2022 which had 88 sales. The May 2023 sales were at their lowest level compared with May 2022 (88 sales) and May 2021 (78 sales).
DAYS ON MARKET DECLINED FOR A THIRD CONSECUTIVE MONTH
Average days on market declined 14 days to 40 days in May compared with April 2023. Compared with May 2022, days on market increased 27 days from 13 days. The May 2023 days on market were at their highest level compared with May 2022 (13 days) and May 2021 (16 days). May’s days on market were at their lowest level since December 2022 when the DOM were also 40.
LIST TO SALE PRICE RATIO DECLINED MONTH-OVER-MONTH
The list to sale price ratio in May 2023 was 98.53%, down 0.66% from 99.19% in April 2023. The list to sale price ratio in May 2023 was 4.38% lower than what we saw in May one year ago when it was 102.91%.
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 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: