Latest news on the Matthews, NC (28105 zip code) real estate market in February 2023...
What it means for you...
What you need to know...
Key February 2023 "take-aways" about the Matthews area of the Charlotte, North Carolina metro area included:
- Average and median home sale prices increased month-over-month and year-over-year in February.
- List to sale price ratio was high at almost 99%, but decreased year-over-year.
Average days on market were the highest Matthews has seen in three years.
Closed sales increased month-over-month, but decreased year-over-year.
Housing inventory was down month-over-month, but up year-over-year.
Except for December 2022, February's new listings were the lowest we've seen in Matthews since January 2021.
Matthews (28105 Zip Code) Housing Market Highlights:
AVERAGE & MEDIAN HOME SALE PRICES INCREASED YEAR-OVER-YEAR AND MONTH-OVER-MONTH
Average sale price in February 2023 was $473,594, increasing 7.13% from $442,077 in January 2023. February's average sale price also increased 6.8% year-over-year from $443,571. The February 2023 average home sale price was at its highest level compared with February 2022 and February 2021.
Median home sale price in February 2023 was $465,000, which was 9.4% higher from $425,00 in January 2023. Year-over-year, median home sale prices increased 20.8% from $385,000 in February 2022. The February 2023 median home sale price was at its highest level compared with February 2022 and February 2021.
Price per square foot in February 2023 was $214, increasing 2.9% from $208 in January 2023 and increasing 5.9% from $202/square foot in February 2022.
DAYS ON MARKET IN MATTHEWS INCREASED IN FEBRUARY
Average days on market in February 2023 were 37 days, up from 35 days in January 2023 and up 15 days from February 2022. This was the highest number of days on market we've seen in Matthews in three years.
Buyer foot traffic was lower compared with February one year ago, with the average number of showings per listing at 13.8 versus 24 showings in 2022. Compared with the most recent month of January 2023, foot traffic decreased by just one under showing per listing.
MATTHEWS HOUSING INVENTORY UP YEAR-OVER-YEAR | NEW LISTINGS REMAIN LOW
The number of properties for sale in February 2023 was 126, down 13.7% from 146 homes in January 2023, but 10.5% higher than the 114 properties for sale in February 2022. The February 2023 inventory was at its highest level compared with February 2022 (114 listings) and February 2021 (122 listings), but was still lower than the inventory we saw since April 2022.
The number of new listings in February 2023 was 31, equal to the number of new listings in January 2023. New listings were considerably lower than what we saw in February 2022 (47 new listings) and February 2021 (68 new listings). Except for December 2022, February's new listings are the lowest we've seen since January 2021.
MATTHEWS SALES INCREASED MONTH-OVER-MONTH | SALES DECREASED YEAR-OVER-YEAR
Sales increased in February 2023 to 35 from 28 in January 2023. Sales decreased from 47 in February 2022 and 41 in February 2021. With the exception of November 2022 and January 2023, February's were the lowest level of sales Matthews saw in three years.
LIST TO SALE RATIO DROPPED BELOW 100% FOR A 5TH CONSECUTIVE MONTH
With a selling price at 98.98% of list price, February 2023 saw a 3.6% decrease in the list to sale price ratio compared with February 2022. However, the month-over-month list to sale price ration increased 1.02% in February.
Want to know what this would mean for your family if you decide to buy or sell a Matthews home?
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 #11 best Charlotte suburb to live in and the #18 best suburb in North Carolina to live in? So why not...
CHECK OUT 7 OF THE HOTTEST SELLING NEIGHBORHOODS IN MATTHEWS
SEARCH ALL MATTHEWS, NC AREA HOMES FOR SALE
FREE Home Buyer Guide: “Things To Consider When Buying A Home”
WONDERING WHAT YOUR MATTHEWS, NC HOME IS 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
Subscribe to CommentsComment