Latest news on the Matthews, NC (28105 zip code) real estate market in April 2022...
What it means for you...
What you need to know...
Matthews housing market set new records in April 2022 for home prices, with average home prices increased to just under $525,000. Median home prices and per square foot prices also set new records in April 2022. While we've heard lots of talk about housing markets showing signs of slowing down and inventory gradually increasing in April to benefit home buyers, we saw NO SLOWDOWN in Charlotte's Matthews area where home prices continued to increase, inventory and new listings continued to decrease. Home sellers continued to received a substantial amount over asking price in final sale price.
Matthews housing market continued to see low inventory with the months supply of inventory under one month at 0.7 months (flat year-over-year and down from 2.0 months in April 2020). However you "slice it," Matthews has been a home seller's market for more than three years now. Inventory of homes was down 15.1% year-over-year, further exacerbated by no increase in new listings. Demand for homes in Matthews was also evident in the average 25.4 showings per home listed during April.
Matthews (28105 Zip Code) Housing Market Highlights:
April 2022 versus April 2021
Average sale prices of homes increased 38.7% year-over-year to $524,881, setting a new high record for Matthews home prices. Average sale price was up month-over-month and and is about $214,000 higher than in 2020. Median home sale prices increased 25.7% to $450,000 year-over-year and was also $45,000 higher month-over-month. This set a new record for median home prices in Matthews. Price per square foot increased 21.2% year-over-year to $206/square foot from $170/square foot in April 2021, setting a new record for square foot prices in Matthews.
Average days on market were 21 days compared with 9 days in the same time period one year ago. Median days on market were just 4 days, one day higher than in the same month one year ago.
Closed sales decreased 4.2% year-over-year. Pending sales decreased 26.7% year-over-year. 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.
With a median selling price of 105.4% of asking price (up 2.6% year-over-year), Matthews home buyers should expect minimal to no room to negotiate. Month-over-month, the median sale price increased 2.4%.
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Median Home Sale Price Trends For Matthews Homes
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.
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