Latest news on the Matthews, NC (28105 zip code) real estate market in March 2022 and what it means for you...
Matthews housing market continued to see low inventory with the months supply of inventory just under one-half month at 0.4 months (down 50% year-over-year from 0.8 months in March 2021 and down from 1.8 months in March 2020). However you "slice it," Matthews has now been a home seller's market for more than three years. Inventory of homes was down 46.3% year-over-year, further exacerbated by no increase in new listings.
Matthews (28105 Zip Code) Housing Market Highlights:
March 2022 versus March 2021
Average sale prices of homes in Matthews increased 33.5% year-over-year to $516,430. Average sale price was up month-over-month and and is almost $189,000 higher than in 2020. Median home sale prices increased 19.1% to $405,000 year-over-year and was also higher month-over-month. Price per square foot increased 25.2% year-over-year to $204/square foot from $163/square foot in March 2021.
Average days on market were 19 days, up 1 day compared with the same time period one year ago. Median days on market were just 3 days, flat year-over-year.
Closed sales decreased 33.8% year-over-year. Pending sales increased 3% year-over-year (equivalent to two homes). There remains the question of how many prospective buyers are now priced out of the Matthews housing market due to home prices that have continued to increase by double digits. Lack of inventory will continue to stymie home sales.
With a median selling price of 103% of asking price (up 0.6% year-over-year), Matthews home buyers should expect minimal to no room to negotiate.
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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 Greater Charlotte area, I'd love an opportunity to earn your business, to exceed your expectations, and to show you why experience matters and how:
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