Indian Trail home prices remained relatively unchanged month-over-month and year-over-year. Inventory was at its lowest level since April 2023 and also down from October 2022. New listings declined a fourth consecutive month. October’s sales were up from the last month, but down compared with October one year ago. Days on market were unchanged from September and down by one day from October 2022. List to sale price ratio was just 99.23% indicating Indian Trail home buyers did not have much wiggle room on price negotiations. The 3.25 months supply of inventory in Indian Trail declined from September 2023, favoring home sellers.
Indian Trail Real Estate October 2023 Housing Market Highlights
INDIAN TRAIL HOME SALE PRICES MOSTLY FLAT
Average home sale price in Indian Trail at $448,082 was essentially flat compared with $447,640 in the previous month of September. The average sale price was 5.23% lower than the $472,817 in October 2022.
Median home sale price increased 2.03% to $443,921 in October 2023 from $434,921 in September 2023. Compared with October 2022, the median sale price was flat.
Price per square foot averaged $212 in October 2023, up 1.92% from $208 in the previous month of September. Price per square foot was 2.91% higher than $206 in October 2022.
INDIAN TRAIL HOUSING INVENTORY AT LOWEST LEVEL SINCE APRIL 2023
The number of properties for sale in October 2023 declined 5.59% with 169 compared with September which had 179 properties for sale. Inventory was 31.3% lower than in October 2022 when inventory stood at 246 homes. The months supply of inventory declined to 3.25 from 3.98 months in September.
NEW LISTINGS IN INDIAN TRAIL DECLINED A FOURTH CONSECUTIVE MONTH
New listings declined 27.79% in October 2023 to 41 from 56 new listings in September 2023. New listings were 39.71% lower than the 68 new listings we saw one year ago in October 2022. October 2023 new listings were at their lowest compared to October 2022 (68 new listings) and October 2021 (100 new listings). This was the lowest number of new listings in Indian Trail since April 2023.
INDIAN TRAIL HOME SALES UP FROM SEPTEMBER, DOWN YEAR-OVER-YEAR
Sales in October 2023 increased 18.18% to 52 compared with 44 sales in the previous month of September 2023. Sales were 16.13% lower than in October 2022 which had 62 sales. The October 2023 sales were at their lowest level compared with October 2022 (62 sales) and October 2021 (71 sales).
DAYS ON MARKET FLAT MONTH-OVER-MONTH, DOWN YEAR-OVER-YEAR
Average days on market were unchanged at 32 days in October from September 2023. Compared with October 2022, days on market decreased by one day from 33 days. Compared with October 2021, days on market were 26 days higher.
LIST TO SALE PRICE RATIO JUST UNDER 100%
The list to sale price ratio in October 2023 was 99.23%, down from 100.31% in September. The list to sale price ratio was unchanged compared with October 2022.
Want to know what this would mean for your family if you decide to buy or sell an Indian Trail area home?
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 25 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: