Matthews, North Carolina Housing Market Update/Video:
June 2018 home sales in Matthews, North Carolina (28105 zip code) saw home sale prices, pending and closed sales all continuing to increase. Market inventory remains tight and buyer demand continues to exceed supply.
The average sale price of Matthews homes increased by 9.6% to just under $302,000 as compared with the same period one year ago. The median price of homes also increased by 4.7% versus June 2017.
Average days on market for property listings were 33 days. Median days on market were 9 days in June 2018. In other words, homes continue to sell quickly.
Average price per square foot increased by 7.7% to $126/square foot in June 2018 versus the same period in 2017. Pending sales were up 7.9% in June versus the same month last year. Closed sales were up 12.1%
During June 2018, the number of showings until pending contract per listing averaged 20 showings (down 9.1% versus June 2017), while the number of showings per listing averaged 9.5 (a 4.4% increase year-over-year). With the lack of inventory, homes coming on the market obviously get more traffic as demand outstrips supply, but with homes selling quickly the average number of showings until contract are curtailed.
The median percent of original list price that sellers received for their homes was 98.6%, showing little negotiating room for homes in Matthews, North Carolina.
New listings decreased 2.2% versus June 2017. Matthew area's months supply of homes decreased 12.5% to 2.1 months. Inventory of homes was down 11.6% 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 end the second quarter of 2018 and look towards the third 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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