Matthews (28105 zip code) housing market remained a home seller’s market in January 2022, evidenced by low inventory and fewer days on market. Matthews homes are selling as quickly as they come on the market. Lack of inventory increased average (+40.1%) and median home prices by double digits and decreased closed sales in January 2022.
Matthews Housing Market Update: January 2022
Latest news on the Matthews (28105 zip code) real estate market in January 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 50% year-over-year from 0.8 months in January 2021 and down from 1.7 months in January 2020). The months supply of inventory also dropped month-over-month. However you “slice it,” Matthews has been a home seller’s market for at least three years now. Inventory of homes was down 47.3% year-over-year, despite a small increase in new listings of homes of 5.3% year-over-year (equal to three additional homes listed).
Average sale prices of homes increased 40.1% year-over-year to $482,843. Median home sale prices increased 13.9% to $381,500 year-over-year. Price per square foot increased 39.2% year-over-year to $206/square foot from $148/square foot one year ago. This set a new record high in price per square foot for Matthews homes.
Average days on market were 13 days, down 51.9% from 27 days in the same time period one year ago and from 39 days in January 2020. Median days on market were just 3 days, down 62.5% from 8 days year-over-year and down 13 days compared with January 2020.
Closed sales decreased 20% year-over-year. Pending sales increased 21.4% year-over-year. The 34.5% increase in new listings in December most likely helped pending sales increase in January. With the ongoing lack of inventory, however, it’s no surprise that closed sales were down. There is also 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 102.3% of asking price (up 2.3% 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:
January 2022 versus January 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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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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