Matthews, NC Home Sale Prices Set New Record July 2022: Up 38% Y-O-Y

By
Real Estate Agent with Coldwell Banker Realty

Latest news on the Matthews, NC (28105 zip code) real estate market in July 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 July 2022 where home prices continued to increase setting new records and inventory remained tight with fewer new listings in July. Home sellers continued to received over asking price in final sale price, despite fewer closed and pending sales. And while average days on market increased by three days, homes still sold quickly -- in 10 days on average.

 

Matthews housing market continued to see low  months supply of inventory at 1.1 months, keeping it in a seller's market in July. Listing inventory did increase but equal to only 9 more homes on market in July 2022 versus July 2021. Meanwhile, new listings coming on the market dropped year-over-year. Moreover, with sale prices increasing year-over-year to record highs it would appear that Matthews home sellers remain in the driver's seat for now.

 

 Matthews (28105 Zip Code) Housing Market Highlights:

July 2022 versus July 2021

Matthews (28105 zip code) real estate report for July 2022

 

HOME SALE PRICES INCREASED IN MATTHEWS YEAR-OVER-YEAR

Average sale prices of homes increased 38.0% year-over-year to $533,894. This was a record high for average home prices in Matthews. Average sale prices also increased approximately $36,000 from June 2022. Average sale price was almost $167,000 higher than in July 2020.

 

Median home sale prices increased 40.0% to $515,000 year-over-year, also setting a new record. Median sale prices increased $65,000 month-over-month. Compared with July 2020, median sale prices were approximately $192,000 higher in July 2022. 

 

Price per square foot increased 20.1% year-over-year to $215/square foot from $179/square foot in July 2021.

 

MATTHEWS HOMES SOLD QUICKLY DESPITE AN INCREASE IN DAYS ON MARKET

Average days on market were 10 days, three days more than in July 2021.  Average days on market were two days higher month-over-month.  Median days on market were just two days, one less than the three days in July 2021.

 

Buyer foot traffic was somewhat lower compared with July on year ago, with the average showings per listing at 12.3 in 2022 compared with 15.4 showings per listing last year.

 

MATTHEWS CLOSED & PENDING SALES DECREASED IN JULY 2022

Closed sales decreased 16.2% year-over-year. Pending sales decreased 6.8% year-over-year. Some of the decrease can be attributed to low inventory in Matthews. Some of the decrease can also be attributed to the fact that prospective buyers may now priced out of the Matthews housing market as a result of home prices that have continued to increase by double digits coupled with increased mortgage rates.

 

With a median selling price at 100.8% of list price (down 1.9% year-over-year and 4.1% month-over-month), Matthews home buyers still had minimal room to negotiate on home prices in July 2022.

 

Want to know what this would mean for your family if you decide to buy or sell a Matthews home?

Curious about the Charlotte area real estate market? Call Nina Hollander.

   We can help.

Call us today at 704-779-0813 or contact us here.

There’s absolutely NO OBLIGATION

A consultation with Carolinas Realty Partners is FREE. 

 

MORE INFORMATION ON THE MATTHEWS HOUSING MARKET'S PERFORMANCE

 

 Did you know Matthews, North Carolina was ranked as the #5 best Charlotte suburb to live in and the #11 best suburb in North Carolina to live in? So why not...

 

CHECK OUT 8 OF THE HOTTEST SELLING NEIGHBORHOODS IN MATTHEWS 

 

Hot Matthews, NC (28105 Zip Code) Neighborhoods To Watch In 2022

 

SEARCH ALL MATTHEWS, NC AREA HOMES FOR SALE

Get the properties you want delivered directly to your email by greathomesincharlotte.com

 

 FREE Home Buyer Guide: “Things To Consider When Buying A Home”

 

WONDERING WHAT YOUR MATTHEWS, NC HOME IS WORTH?

 

What's My Home Worth?

 

FREE Home Seller Guide: “Things To Consider When Selling Your House”

 

THINKING OF SELLING YOUR HOME? CHECK OUT THE COLDWELL BANKER MARKETING ADVANTAGE 

 

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.

 

 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
 

Posted by

 

 Nina Hollander, RE/MAX Broker, Realtor

 

 

 

Broker, Realtor, MBA, GRI, ABR, SRES, CDPE, SFR, SPS, CMRS
Carolinas Realty Partners with Coldwell Banker Realty
Direct: 704-779-0813
Website: www.GreatHomesInCharlotte.com
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Disclaimer:  Nothing in this blog article is to be construed as legal advice, tax advice, or financial advice.  For legal advice see an attorney.   For tax advice or financial advice see a tax attorney, certified public accountant, or other qualified professional.

 

Comments (36)

Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Hi Roy... it will be a busy week... how productive it will be remains to be seen! 

Aug 08, 2022 06:24 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Eric Bouler thanks, Eric, for stopping by this Monday morning, Wishing you a wonderful week ahead.

Aug 08, 2022 06:25 AM
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Good morning Nina,

It sounds like Matthews home sellers will remain in the driver's seat for now. I'm sure sellers are happy the strong sellers market continues.

Aug 08, 2022 06:27 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Dorie Dillard Austin TX hi Dorie... Matthews homeowners are happy. Matthews home buyers not so much!

Aug 08, 2022 06:48 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Nina, Matthews is still going STRONG, with no slowdown in sight.  Still good for sellers!

Aug 08, 2022 06:53 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Joan Cox hi Joan... we need a stronger word than strong to describe the Matthews housing market in July! 

Aug 08, 2022 07:21 AM
Joan Cox

HOT!

Aug 08, 2022 07:38 AM
Norma J. Elkins
Elite Realty Group - Morristown, TN
Realtor - Elkins Home Selling Team

$215/sqft seems like a lot but that is about the normal right now.  Thanks for sharing and have a fabulous day!

Aug 08, 2022 07:36 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Norma J. Elkins good morning, Norma... it doesn't feel like all that long ago that $215/square foot is what we saw for high end homes.

Aug 08, 2022 08:25 AM
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Property Manager

Hi Nina,
The Y-O-Y price increase is staggering.

Aug 08, 2022 11:11 AM
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Nina home prices just seem to continue to go up, up, up in some areas.

Aug 08, 2022 11:31 AM
Kathy Streib
Cypress, TX
Home Stager/Redesign

Hi Nina- the days on market may have increased a bit but the homes are still selling in Matthews!  

Aug 08, 2022 11:39 AM
Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

Matthews home buyers and sellers are sure to value your real estate market report, Nina.

Aug 08, 2022 11:49 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Carol Williams hi Carol... staggering is the word to describe price increases like that, especially when you consider that prices were already sky high one year ago.

Aug 08, 2022 01:37 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

George Souto hi George... I continue to be amazed at some of the price increases I'm seeing in the month of July. Now, I'm holding my breath to see what August brings.

Aug 08, 2022 01:39 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Kathy Streib hi Kathy... at the end of the day, we need to get a grip, as they say. 10 days on market, on average, is nothing to sneeze at!

Aug 08, 2022 01:40 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Myrl Jeffcoat hi Myrl... nice of you to stop by... hope your week has gotten off to a great start.

Aug 08, 2022 01:41 PM
Sheri Sperry - MCNE®
Coldwell Banker Realty - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

Hi Nina,

It is amazing to see these strong markets such as Matthews NC, continue to do so well when other parts of the country are shifting.  Your reports really help buyers and sellers alike with important decisions.

Aug 08, 2022 01:57 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Sheri Sperry - MCNE® good morning, Sheri... when I see these kinds of numbers, all I can do is wonder what will happen in August. I guess we'll know soon enough.

Aug 09, 2022 04:16 AM
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

Good morning, Nina Hollander, Broker 

Talking heads about signs of slowing down in the housing market are full of hot air. Local Brokers like yourself can be counted on for accurate information because you live it, love it, and have learned a lot in your many, many years in the business. 

Aug 09, 2022 05:07 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Patricia Feager, MBA, CRS, GRI,MRP hi Patricia... there is a definite cooling in the market, as a whole. But that doesn't mean it's crashing about our ears the way many in the media would like us to think.

Aug 09, 2022 07:52 AM