Matthews Real Estate Report: April 2020

Latest news on the Matthews real estate market and what it means for you…

Matthews housing market saw a definite impact from corona virus restrictions in April with the months supply of inventory razor-thin at 1.7 months (down 23.2% year-over-year from 2.4 months). Inventory of homes was down 25.2%.  New listings also decreased 33% versus the same month one year ago. Normally, one would expect inventory and new listings to increase for the height of the spring home selling season.

Average sale prices of homes decreased 2.2% year-over-year to $319,611, while median home sale prices increased 10.7% to $310,000 year-over-year. Median home sale prices also increased month-over-month. The decrease in average sale prices is less indicative of lower home values in Matthews than of the price mix of home sold in April. Price per square foot increased 4.5% year-over-year to $140/square foot (up $6/square foot).

Average days on market were 32, down 16 days from one year ago.  Median days on market decreased by 6 days to 5 days versus one year ago and were 2 days lower month-over-month.

Closed sales decreased 14.5% year-over-year. Pending sales dropped 42.5% year-over-year. No doubt, the very restrictive COVID-19 stay-at-home orders in April, which prohibited in-person home showings in Matthews/Mecklenburg County the entire month of April played a significant role in the drop in closed and pending sales. Home showings during the month of April fell drastically — by more than 75%. There were 413 showings in Matthews in April 2020 as compared with 2,052 showings in April 2019.

With a median selling price of 100% of asking price (up 1.2% over April 2019), buyers should expect minimal room to negotiate.

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

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Note: If you don’t see your subdivision or complex, or the data looks incomplete, it’s because there weren’t enough properties sold in a given year.

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Matthews Housing Market Update: March 2020

Matthews Housing Market Update: February 2020

Matthews Housing Market Update: January 2020

Matthews Housing Market Update: December 2019

Matthews Housing Market Update: November 2019

Matthews Housing Market Update: October 2019

Matthews Housing Market Update: September 2019

Matthews Housing Market Update: August 2019 

Matthews Housing Market Update: July 2019

Matthews Housing Market Update: June 2019

Matthews Housing Market Update: May 2019

Matthews Housing Market Update: April 2019

… The Right Broker Makes All The Difference!

This Charlotte, North Carolina real estate monthly update for Matthews is provided by Nina Hollander and Carolinas Realty Partners with Coldwell Banker Residential Brokerage, your Matthews area specialists and Charlotte metro area residential real estate experts. We’ve been opening doors for Matthews area home buyers and sellers for 20+ years.

If you’re considering selling or purchasing a home in the Charlotte metro area, I’d love an opportunity to earn your business, to exceed your expectations, and to show you how:

 “The Right Broker Makes All The Difference.”