Indian Trail Real Estate May 2024

Indian Trail, NC area (28079 zip code) housing market update for May 2024

 

Indian Trail Real Estate May 2024 Highlights

Indian Trail real estate May 2024 saw home sale prices decline from one month ago and one year ago. After improving for five consecutive months, sales in May declined 29%.  Days on market declined a fourth consecutive month to 19 days to their lowest level since August 2022.  List to sale price ratio was just under 100% at 99.97% leaving little room for Indian Trail home buyers to negotiate on price. New listings increased to their second highest level since August 2022. The number of properties for sale in May 2024 increased to their highest level since January 2023. The months supply of inventory (MSI) increased to 3.98 in May, keeping Indian Trail in home seller territory, but barely so.

 

 Indian Trail Real Estate May 2024 Trends

 

Indian Trail, NC area (28079 zip code) housing market trends in May 2024

 

 

INDIAN TRAIL HOME SALE PRICES DOWN MONTH-OVER-MONTH & YEAR-OVER-YEAR

Average home sale price in Indian Trail at $447,042, down 2.9% from $460,409 in the previous month of April. The average sale price declined 6.1% from $476,097 in May one year ago. The Indian Trail average home sale price in May 2024 was at its lowest compared with May 2023 and 2024.

 

Median home sale price was $427,500, down 4.97% from $449,858 in the previous month of April. The median sale price was 7.54% lower than the $462,365 price in May 2023. The Indian Trail median home sale price in May 2024 was at its lowest compared with May 2023 and 2022.

 

Price per square foot averaged $216 in May 2024, up from the previous month’s $215 per square foot. Price per square foot was 7.46% higher than $201 in May 2023. 

 

 

INDIAN TRAIL HOUSING INVENTORY UP MONTH-OVER-MONTH & YEAR-OVER-YEAR

The number of properties for sale in May 2024 increased 15.13% to 175 properties for sale from 152 in the previous month of April. Inventory was 8.7% higher than in May 2023 when inventory stood at 161 homes. Compared with May 2022 when properties for sale stood at 155, inventory was higher in May 2024. The May 2024 inventory was at its highest level since January 2023 when inventory stood at 177 properties for sale.

 

The months supply increased to 3.98 months from 2.46 months in the previous month of April. At just under four months of inventory, Indian Trail remained a home seller’s market in May 2024, but was getting close to being a balanced market.

 

 

NEW LISTINGS INCREASED TO THEIR SECOND HIGHEST LEVEL SINCE AUGUST 2022

New listings increased 44.44% from 63 properties to 91 properties month-over-month. New listings were 12.35% higher than the 81 new listings we saw one year ago in May 2023. May 2024 listings were lower compared with May 2022, which saw 99 new listings.

 

 

INDIAN TRAIL HOME SALES DECLINED AFTER FIVE CONSECUTIVE MONTHS OF INCREASES

Sales in May 2024 declined 29.03% to 44  from 62 in April. Sales were at their lowest level compared with May 2023 (64 sales) and May 2022 (88 sales). 

 

 

DAYS ON MARKET DECLINED A FOURTH CONSECUTIVE MONTH

Average days on market declined 26.92% to 19 days from 25 days in the previous month. Compared with May 2023, days on market were 28 days lower this year (-59.57%). Compared with May 2022, days on market were 6 days higher this year. May 2024 days on market were at their lowest level since August 2022 when they also stood at 19 days.

 

 

LIST TO SALE PRICE RATIO JUST UNDER 100%

The list to sale price ratio in May 2024 was 99.97% equal to that of the previous month and up from 98.67% in May 2023. On the whole, Indian Trail home buyers saw little opportunity to negotiate on home prices.

 

 

Want to know what this would mean for your family if you decide to buy or sell an Indian Trail area home?

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Indian Trail, NC is ranked as one of America’s 50 Top Small Cities To Live In

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10 HOTTEST SELLING INDIAN TRAIL NEIGHBORHOODS 

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Did you know that Indian Trail’s Porter Ridge Middle School and Union Prep Academy are ranked in the top 20 middle schools in the Greater Charlotte area? Union Prep Academy, a charter school, is ranked the #1 public middle school in Union County.

 

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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 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:

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PREVIOUS INDIAN TRAIL REAL ESTATE UPDATES

  Indian Trail Real Estate: April 2024                  

       Indian Trail Real Estate: March 2024                    

                      Indian Trail Real Estate: February 2024                             

  Indian Trail Real Estate: January 2024

Indian Trail Real Estate: December 2023         

Indian Trail Real Estate: November 2023

Indian Trail Real Estate: October 2023             

Indian Trail Real Estate: September 2023

 

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