Matthews (28105 zip code) housing market remained a home seller’s market in June 2020 as evidenced by extremely low inventory and months supply of inventory, decreases in days on market, and increased pending sales. Matthews’ housing market appears to be rebounding nicely from the early effects of the corona virus restrictions and pent-up buyer demand is still greater than supply of homes to purchase.
Matthews Housing Market Update: June 2020
Latest news on Matthews’ (28105 zip code) real estate market in June and what it means for you…
Matthews homes sales appeared to rebound in June 2020 despite the pandemic as home showing restrictions were lifted, as evidenced by the 46.8% increase in pending sales compared with June 2019.
Matthews housing market continues to see a definite impact from corona virus with the months supply of inventory razor-thin at 1.1 months (down 54.2% year-over-year from 2.3 months). Inventory of homes was down 46.8%. Although new listings increased 17.3% year-over-year, homes sold quickly and thin inventory was in no way alleviated.
Average sale prices of homes decreased 13.5% year-over-year to $316,372, while median home sale prices decreased 12.9% to $287,250 year-over-year.The decrease in average and median sale prices is less indicative of lower home values in Matthews than of the price mix of home sold in June. Price per square foot increased 0.7% year-over-year to $147/square foot (up $1/square foot).
Average days on market were 26, down 6 days from one year ago. Median days on market decreased by 4 days to 7 days versus one year ago. Clearly, Matthews homes sold almost as quickly as they came on the market in June 2020.
Closed sales decreased 2.5% year-over-year. Pending sales increased 45.6% year-over-year… quite a turn-around compared with the early months of the pandemic when showing restrictions in Mecklenburg County were at their height.
Matthews home showings were up 13.8% compared with June 2019 and up 12.4% over May 2020.
With a median selling price of 98.6% of asking price (up 0.1% over June 2019), buyers should expect minimal room to negotiate.
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Matthews (28105 Zip Code) Housing Market Highlights:
June 2020 versus June 2019
Lack of inventory continues to keep Matthews and the 28105 zip code a home seller’s market and a very competitive environment for affordable homes for home buyers in Matthews, North Carolina.
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Median Home Sale Price Trends For Matthews Homes
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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.
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