Matthews, NC Home Sales Report: August 2022. Closed And Price Up Y-O-Y

By
Real Estate Agent with Coldwell Banker Realty

 

Latest news on the Matthews, NC (28105 zip code) real estate market in August 2022...

What it means for you...

What you need to know...  

 

Matthews housing market continued to see low months supply of inventory at 1.3 months, keeping it a seller's market in August. Listing inventory did increase, but new listings coming on the market dropped year-over-year. Days on market increased in August, but were still low at 14 days, on average. With sale prices increasing and a median list to sale ratio of 100%, it would appear that Matthews home sellers remain in the driver's seat for now.

 

 Matthews (28105 Zip Code) Housing Market Highlights:

August 2022 versus August 2021

Matthews/28105 Zip Code Housing Market Update August 2022

 

HOME SALE PRICES INCREASED IN MATTHEWS YEAR-OVER-YEAR

Average sale prices of homes increased 9.2% year-over-year to $488,970. Average sale prices decreased month-over-month, but it should be noted that average sale prices increased 38% last month and it's not reasonable to think we would see such increases month after month. Average sale price was approximately $117,000 higher than in August 2020.

 

Median home sale prices increased 2.9% to $432,000 year-over-year. As with average sale price, the median sale price increased 40% in July and it's not reasonable to assume such year-over-year increases would continue month after month in a shifting market. Compared with August 2020, median sale prices were approximately $100,000 higher in August 2022. 

 

Price per square foot increased 23.1% year-over-year to $213/square foot from $173/square foot in August 2021.

 

MATTHEWS HOMES SOLD QUICKLY DESPITE AN INCREASE IN DAYS ON MARKET

Average days on market were 14 days, six days more than in August 2021.  Average days on market were four days higher month-over-month.  Median days on market were five days, two days more than the three days in August 2021 and two days higher month-over-month. Although, days on market were up in August, they were still low.

 

Buyer foot traffic was lower compared with August one year ago, with the average number of showings per listing at 10.5 in 2022 compared with 16.4 showings per listing last year. Compared with the most recent month of July 2022, foot traffic was down 1.8 showings per listing.

 

MATTHEWS CLOSED SALES INCREASED IN AUGUST, BUT PENDING SALES DECREASED IN AUGUST

Closed sales increased 5.6% year-over-year. Pending sales decreased 30.5% year-over-year. It's not unreasonable to assume prospective buyers may now be priced out of the Matthews housing market as a result of home prices that have continued to increase coupled with increased mortgage rates.

 

LIST TO SALE RATIO WAS 100% IN AUGUST 2022

With a median selling price at 100% of list price (down 0.4% year-over-year and 0.8% month-over-month), Matthews home buyers still had minimal room to negotiate on home prices in August 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

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 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 22+ 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
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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 (12)

Nick Vandekar, 610-203-4543
Long & Foster Real Estate Inc 610-225-7400 - Devon, PA
Tredyffrin Easttown Realtor, Philly Main Line

Mathews is a nice area, lots of green trees, so I can understand why sellers are still in a strong position. Mind you lots of areas around Charlotte are gorgeous, you have so many lakes, and great neighborhoods.

Sep 15, 2022 12:46 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Nick Vandekar, 610-203-4543 hi Nick... I like to say that in Charlotte it's an embarrassment of riches.

Sep 15, 2022 02:08 PM
Roy Kelley
Retired - Gaithersburg, MD

Families on the move will appreciate your local real estate reports.

Have a great day and an outstanding weekend.

Sep 16, 2022 05:19 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Thanks, Roy, for stopping by today... one thing I know about this coming weekend is that I have a desk-full of work to get through.

Sep 16, 2022 05:28 AM
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

With the average price getting close to half a million, it might be difficult to find something affordable to purchase in Matthews.

Sep 16, 2022 05:36 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Brian England hi Brian... we've had months in the past year where Matthews home prices went over $500,000. This was always considered an affordable Charlotte area town... getting less so all the time.

Sep 16, 2022 05:57 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, 14 days are still not many, and great market update for Matthews!

Sep 16, 2022 06:07 AM
Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

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

Sep 16, 2022 07:22 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Joan Cox hi Joan... thanks. And I agree... we need to stop comparing our DOM to the last crazy year and think about the days when it was normal for homes to sit on the market for at least a month.

Sep 16, 2022 07:39 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Myrl Jeffcoat thanks, Myrl. Trust you've had a good week and are now looking forward to a wonderful weekend.

Sep 16, 2022 07:41 AM
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Nina I had fun reading your back and forth with Brian England  yes affordability is relative depending where you live in the US:)Endre

Sep 16, 2022 11:53 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Endre Barath, Jr. hi Endre... Matthews was one of our uber-affordable areas for more years than I can count... not any more.

Sep 17, 2022 04:08 AM