Latest news on the Matthews, NC (28105 zip code) real estate market in May 2023...
What it means for you...
What you need to know...
Key May 2023 "take-aways" about the Matthews area of the Charlotte, North Carolina metro area included:
- Median home sale prices increased 15.03% from April 2023; 19.48% from May 2022.
- Average home sale prices increased 16.43% from April 2023; 20.42% from May 2022.
- List to sale price ratio increased to just under 101% in May.
Average days on market declined 70% from April 2023 to just 18 days.
Closed sales increased compared with one month ago, but declined from one year ago.
Housing inventory declined for a third consecutive month and at its second lowest level since June 2022. With just 2.32 months supply of inventory, Matthews was a seller's market in May.
New listings declined for third consecutive month -- down 19.3% from April 2023 and down 35.21% from May one year ago.
Matthews (28105 Zip Code) Housing Market Highlights:
AVERAGE & MEDIAN HOME SALE PRICES UP BY DOUBLE DIGITS YEAR-OVER-YEAR & MONTH-OVER-MONTH
Average sale price in May 2023 was $571,168, increasing 16.3% from $491,117 in April 2023. May's average sale price increased 20.42% year-over-year from $474,320. The May 2023 average sale price was at its highest level compared with May 2022 and May 2021.
Median home sale price in May 2023 was $530,500, which was 15.03% higher than $461,200 in April 2023. Year-over-year, median home sale prices increased 19.48% from $444,000 in May 2022. The May 2023 median home sale price was at its highest level compared with May 2022 and May 2021.
Price per square foot in May 2023 was $215, up from $209/square foot in April 2023 and equal to the price per square foot in May 2022.
DAYS ON MARKET IN MATTHEWS DECLINED 70% FROM APRIL 2023
Average days on market in May 2023 were 18 days, declining 70% from 60 days in April 2023 and up 9 days from May 2022. This was the lowest number of days on market in Matthews since November 2022, when DOM were 12 days.
MATTHEWS HOUSING INVENTORY DECLINED FOR A THIRD CONSECUTIVE MONTH
The number of properties for sale in May 2023 was 130, down 4.41% from 136 homes in April 2023. Inventory was 3.17% higher than the 126 properties for sale in May 2022. The May 2023 inventory was at its highest level compared with May 2022 (126 listings) and May 2021 (118 listings). Housing inventory in Matthews declined for a third consecutive month and was second lowest since June 2022.
NEW LISTINGS IN MATTHEWS DECLINED A THIRD CONSECUTIVE MONTH
The number of new listings in May 2023 was 46, down 19.3% from the previous month's 57 listings. New listings were 35.21% lower than what we saw in May 2022 (71 new listings) and in April 2021 (64 new listings). The May 2023 new listings were at their lowest level compared with May 2022 and May 2021.
MATTHEWS SALES INCREASED MONTH-OVER-MONTH
Sales increased in May 2023 to 56 from 37 in April 2023. Sales declined from 69 in May 2022 and 64 in May 2021.
LIST TO SALE PRICE RATIO JUST UNDER 101%
With a selling price at 100.76% of list price, May's ratio increased 0.21% from April 2023, but was down from 105.37% in May 2022.
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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...
Median Home Sale Price Trends For Matthews Homes
This Charlotte, North Carolina real estate monthly update for Matthews, NC is provided by Nina Hollander, Coldwell Banker Realty, Greater Charlotte area residential real estate expert and Matthews specialist. I've been opening doors for Matthews home buyers and sellers for 24+ 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:
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