Matthews (28105 zip code) housing market remained a home seller’s market in February 2022, evidenced by low inventory and fewer days on market. Matthews homes sold as quickly as they came on the market. Lack of inventory increased average and median home prices by double digits and impacted pending sales negatively.
Matthews Housing Market Update: February 2022
Latest news on the Matthews (28105 zip code) real estate market in February 2022 and what it means for you…
Matthews housing market continued to see low inventory at the start of the new year with the months supply of inventory just under one-half month at 0.4 months (down 55.6% year-over-year from 0.9 months in February 2021 and down from 1.7 months in February 2020). However you “slice it,” Matthews has been a home seller’s market for at least three years now. Inventory of homes was down 52.4% year-over-year, further exacerbated by a drop in new listings.
Average sale prices of homes increased 17.1% year-over-year to $423,388. Median home sale prices increased 19% to $370,000 year-over-year. Price per square foot increased 25.8% year-over-year to $200/square foot.
Average days on market were 14 days, down 41.7% from 24 days in the same time period one year ago and from 48 days in February 2020. Median days on market were just 3 days, flat year-over-year and down 25 days compared with February 2020.
Closed sales increased 16.7% year-over-year (equal to seven additional homes). Pending sales decreased 22.4% year-over-year. The 34.5% increase in new listings in December most likely helped closed sales increase in February. There remains the question of how many prospective buyers are now priced out of the Matthews housing market due to home prices that have continued to increase by double digits.
With a median selling price of 101.7% of asking price (up 1.1% year-over-year), Matthews home 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 2022 versus February 2021
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.
This same lack of inventory coupled with continued buyer demand for homes in Matthews assures home sellers of a quick sale at top dollar and minimal sales contingencies.
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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, Greater Charlotte 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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