Matthews, NC (28105 Zip Code) Housing Market Update:
March 2020:
Latest news on the Matthews real estate market and what it means for you...
Matthews remained a seller’s market in March 2020 with the months supply of inventory remaining razor-thin at 1.5 months (down 34.6% year-over-year from 2.3 months). Inventory was down 29.5%. New listings also decreased 5.9% versus the same month one year ago.
Average sale prices of homes decreased 5.1% year-over-year to $328,363, while median home sale prices increased 4.6% to $305,000 year-over-year. The decrease in average sale prices is less indicative of lower home values in Matthews than of the price mix of home sold in March. Price per square foot increased 8.8% year-over-year to $148/square foot (up $12/square foot).
Average days on market were 29, down 16 days from one year ago and down 19 days month-over-month. Median days on market decreased to 7 days versus one year ago and were 21 days lower month-over-month.
Closed sales increased 22.9% year-over-year. Pending sales dropped 18.5% year-over-year. Hard at this point in time to say how much of the drop was due to COVID-19 shelter in place orders which came in late March or as a result of lack of inventory.
With homes selling at 98.9% of asking price (up 1.7% over March 2019), buyers should expect minimal room to negotiate.
Clearly, March home sales numbers do not reflect the outbreak of COVID-19 in March. Shelter at home orders in North Carolina did not go into effect until the last week of March and those for Mecklenburg County where Matthews is located went into effect only a few days earlier. What remains to be seen will be the impact of COVID-19 on the Matthews housing market in April 2020 and the following months.
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MORE INFORMATION ON THE MATTHEWS HOUSING MARKET'S PERFORMANCE IN MARCH 2020
Matthews (28105 Zip Code) Housing Market Highlights:
March 2020 versus March 2019
Lack of inventory has kept Matthews and the 28105 zip code a home seller's market and a very competitive environment for affordable homes for home buyers in Matthews, North Carolina.
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PREVIOUS MATTHEWS, NORTH CAROLINA HOUSING MARKET UPDATES
Matthews Housing Market Update: February 2020
Matthews Housing Market Update: January 2020
Matthews Housing Market Update: December 2019
Matthews Housing Market Update: November 2019
Matthews Housing Market Update: October 2019
Matthews Housing Market Update: September 2019
Matthews Housing Market Update: August 2019
Matthews Housing Market Update: July 2019
Matthews Housing Market Update: June 2019
Matthews Housing Market Update: May 2019
Matthews Housing Market Update: April 2019
Matthews Housing Market Update: March 2019
This Charlotte, North Carolina real estate monthly update for Matthews, NC is provided by Nina Hollander and Carolinas Realty Partners, Coldwell Banker Realty, your Charlotte metro area residential real estate experts and Matthews specialists. We've been opening doors for Matthews home buyers and sellers for 20+ years.
If you're considering selling or purchasing a home in Matthews or anywhere in the Charlotte metro area, I'd love an opportunity to earn your business, to exceed your expectations, and to show you how:
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Read the original post on my blog at: https://www.GreatHomesInCharlotte.com
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