Matthews, North Carolina Housing Market Update/Video:
May 2018 home sales in Matthews, North Carolina (28105 zip code) saw home sale prices substantially increasing, pending and closed sales also increasing. Market inventory remains tight and buyer demand continues to exceed supply.
The average sale price of Matthews homes increased by double digits for the fifth consecutive month by 12.7% to just over $301,000 as compared with the same period one year ago. The median price of homes also increased by 7.3% versus May 2017.
Average days on market for property listings were 34 days. Median days on market were 9 days in May 2018. In other words, homes continue to sell quickly.
Average price per square foot increased by 9.6% to $126/square foot in May 2018 versus the same period in 2017. Pending sales were up 6.2% in May versus the same month last year. Closed sales were up 13.6%
During May 2018, the number of showings until pending contract per listing averaged 20 showings (down 4.8% versus May 2017), while the number of showings per listing averaged 9.5 (a 5.6% increase year-over-year).
The median percent of original list price that sellers received for their homes was 98.7%, showing little negotiating room for homes in Matthews, North Carolina.
New listings decreased 2.3% versus May 2017. Matthew area's months supply of homes decreased 12.5% to 2.1 months. Inventory of homes was down 8.3% year-over-year. The combination of a lack of new listings and decrease in the supply of homes essentially indicates continuing increases in home prices as we begin the last month of the second quarter.
It continues to be a true seller's market in the 28105 zip code and a very competitive environment for home buyers in Matthews, North Carolina.
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This Charlotte, North Carolina real estate monthly update for Matthews, NC is brought to you courtesy of Nina Hollander and Carolinas Realty Partners, RE/MAX Executive, your Charlotte metro area real estate consultants and Matthews specialists.
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