Matthews (28105 zip code) housing market remained a home seller’s market in November 2020, as evidenced by extremely low inventory, less than a one month supply of inventory, decreases in days on market, and lower sales due to lack of inventory. Pent-up buyer demand remains greater than the supply of homes to purchase.
Matthews Housing Market Update: November 2020
Latest news on Matthews’ (28105 zip code) real estate market in November and what it means for you…
Matthews housing market continues to see low inventory with the months supply of inventory razor-thin at 0.8 months (down 61.9% year-over-year from 2.1 months). Inventory of homes was down 56.8% year-over-year. New listings decreased 27.1% year-over-year and homes sold quickly (in under two weeks, on average).
Average sale prices of homes increased 15.9% year-over-year to $345,242, while median home sale prices increased 13.9% to $319,500 year-over-year. Price per square foot increased 15.7% year-over-year to $155/square foot (up $21/square foot).
Average days on market were 13, down 15 days from the same time period one year ago. Median days on market decreased 6 days to 3 days versus one year ago. Clearly, Matthews homes sold almost as quickly as they came on the market in November 2020.
Closed sales decreased 3.1% year-over-year, no doubt due to the lack of inventory to sell. Pending sales increased 13.1% year-over-year.
With a median selling price of 100% of asking price (up 2.5% over November 2019), buyers should expect minimal to no room to negotiate.
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Matthews (28105 Zip Code) Housing Market Highlights:
November 2020 versus November 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.
Did you know Matthews, North Carolina was ranked as the #5 best Charlotte suburb to live in and the #11 best suburb in North Carolina to live in? So why not…
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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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