Matthews (28105 zip code) housing market remained a home seller’s market in February 2021, evidenced by extremely low inventory and less than a one month’s supply of inventory. Significant decreases in days on market and fewer new listings resulted in higher home prices. Pent-up buyer demand remains greater than the supply of homes to purchase and both closed and pending sales were down year-over-year.
Matthews Housing Market Update: February 2021
Latest news on the Matthews (28105 zip code) real estate market in February and what it means for you…
Matthews housing market continues to see extremely low inventory with the months supply of inventory razor-thin at 0.6 months (down 64.7% year-over-year from 1.7 months year-over-year). Inventory of homes was down 61.2% year-over-year. New listings decreased 9.2% year-over-year and homes sold in under one month, on average.
Average sale prices of homes increased 10.7% year-over-year to $367,521, while median home sale prices increased 2.0% to $312,000 year-over-year. Price per square foot increased 9.7% year-over-year to $158/square foot (up $14/square foot).
Average days on market were 25, down 23 days from the same time period one year ago. Median days on market decreased 25 days to 3 days versus one year ago. Clearly, Matthews homes sold almost as quickly as they came on the market in February 2021.
Closed sales decreased 23.1% year-over-year. Pending sales decreased a scant 7.4% year-over-year. No doubt, this was due to lack of inventory and not due to a lack of buyer demand.
With a median selling price of 100.6% of asking price (up 3.5% over February 2020), buyers should expect minimal to no room to negotiate.
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MORE INFORMATION ON THE MATTHEWS HOUSING MARKET’S PERFORMANCE
Matthews (28105 Zip Code) Housing Market Highlights:
February 2021 versus February 2020
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
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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