Matthews NC Home Values in Quarter Two 2017
The real estate market in Matthews NC continued to be vibrant in the second quarter. If you are a seller, you can be confident that well-presented, correctly-priced homes in Matthews are still appreciating. If you are looking to purchase a home in this quaint town, you will find a lot of competition for the homes on the market.
Home Values in Matthews NC 28105 and 28104
The Matthews market includes areas in two zip codes: 28105 and 28104. Changes in home values in the two zip codes very because of some basic differences in the two areas.
Matthews NC 28105 encompasses the town of Matthews located entirely within Mecklenburg County. Its neighborhoods are older and smaller than the communities in 28104. 28105 has less vacant land for new construction and is mostly suburban in nature.
Matthews NC 28104 lies in Union County. It still has large tracts of vacant land so it has more new construction, which tends to be in larger communities. Where developed, 28104 is suburban like 28105 but with newer neighborhoods.
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Six Things to Know about Matthews Home Values in the Second Quarter 2017
- For single family homes, the average sales price in Matthews NC 28105 was $338,920. This represented a 17.9% increase over the first quarter. The market was up 17% over 2016.
- Single family homes in Matthews NC 28104 had a higher average sales price than 28105. This price, $433,061, increased 12.6% over the first quarter and 4.8% over 2016.
- Condos and townhomes are a small segment of the Matthews market. In 28105, the average sales price of these homes was $189,470, a 14.4% increase over 2016. In 28104 where the condo/townhome market is even smaller, the average sales price was $155,921 with an increase of 4.9% over 2016.
- Increasing prices in the Matthews real estate market are a result of the strong sellers market. Homes sold more quickly in the second quarter. Average days on market in 28105 were 35 for single family homes and 27 for condos and townhomes. These numbers were 58 and 25 in 28104.
- The average list to sale ratio in Matthews increased to approximately 99% in the second quarter of 2017.
- How strong is the sellers market? In June 2017, there was a 2.4 months supply of homes in Matthews 28105 and 3.9 months supply in Matthews 28104. Anything below a 6 month supply of homes is considered a sellers market.
Want to know more about the market for luxury homes, affordable home, new home and homes with acreage? Read the complete Matthews NC home values report here.