Matthews, North Carolina Housing Market Update/Video:
July 2018 home sales in Matthews, North Carolina (28105 zip code) saw home sale prices, pending and closed sales all increasing. Market inventory remains tight and buyer demand continues to exceed supply.
Average sale price of Matthews homes increased by 8.2% to just over $302,000 as compared with the same period one year ago. The median price of homes also increased by 4.7% versus July 2017.
Average days on market for property listings were 33 days. Median days on market were 8 days in July 2018. In other words, homes continue to sell quickly.
Average price per square foot increased by 7.6% to $127/square foot in July 2018 versus the same period in 2017. Pending sales were up 1.4% in July versus the same month last year. Closed sales were up 6.9%
During June 2018, the number of showings until pending contract per listing averaged 20 showings (down 9.1% versus July 2017), while the number of showings per listing averaged 9.5 (a 5.6% 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 98.5%, showing little negotiating room for homes in Matthews, North Carolina.
New listings decreased 9.1% versus July 2017. Matthew area's months supply of homes decreased 16.7% to just 2 months. Inventory of homes was down 14.9% 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.
Clearly, 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 residential real estate experts and Matthews specialists.
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