Latest news on the Matthews, NC (28105 zip code) real estate market in May 2022...
What it means for you...
What you need to know...
While we've heard considerable talk about housing markets showing signs of slowing down and inventory gradually increasing to benefit home buyers, we saw NO SIGNIFICANT SLOWDOWN in Charlotte's Matthews area in May 2022 where home prices continued to increase and inventory 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 (down 12.5% from 0.8 months in May 2021 and down from 1.7 months in May 2020). However you "slice it," Matthews has been a home seller's market for more than three years now. Inventory of homes was down 17.0% year-over-year, despite a small increase in new listings of seven homes.
Matthews (28105 Zip Code) Housing Market Highlights:
May 2022 versus May 2021
HOME SALE PRICES INCREASED IN MATTHEWS YEAR-OVER-YEAR
Average sale prices of homes increased 35.0% year-over-year to $474,111. Average sale price was about $129,000 higher than in May 2020. Median home sale prices increased 29.8% to $444,500 year-over-year. Compared with May 2020, average home sale prices were approximately $145,000 higher in May 2022. Price per square foot increased 28.0% year-over-year to $213/square foot from $169/square foot in May 2021, setting a new record for square foot prices in Matthews for a second consecutive month.
MATTHEWS HOMES SOLD QUICKLY IN MAY 2022
Average days on market were 12 days compared with 17 days in the same time period one year ago and 32 days two years ago. Month-over-month, average days on market were 9 days lower. Median days on market were just 4 days, one day higher than in the same month one year ago, but 11 days lower than in May 2020.
MATTHEWS CLOSED & PENDING SALES INCREASED IN MAY 2022
Closed sales increased 1.5% year-over-year (equal to one additional home sale year-over-year). Pending sales increased 10.8% year-over-year. This increase was equal to seven additional sales, which was equal to the seven additional homes that were listed in May 2022.
With a median selling price of 104.2% of asking price (up 0.4% year-over-year), Matthews home buyers should expect minimal to no room to negotiate.
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MORE INFORMATION ON THE MATTHEWS HOUSING MARKET'S PERFORMANCE
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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:
"The Right Broker Makes All The Difference."
Read the original post at www.GreatHomesInCharlotte.com
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