Matthews (28105 zip code) housing market remained a home seller’s market in November 2021, 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 and median home prices by double digits and decreased closed sales in November 2021.
Matthews Housing Market Update: November 2021
Latest news on the Matthews (28105 zip code) real estate market in November 2021 and what it means for you…
Matthews housing market continues to see low inventory with the months supply of inventory under one month at 0.7 months (down 30% year-over-year from one month in November 2020 and down from 2.1 months in November 2019). 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 38.7% year-over-year, despite an increase in new listings of homes of 42.3% year-over-year.
Average sale prices of homes increased 27.9% year-over-year to $411,818. Average home prices increased by approximately $10,000 month-over-month. Median home sale prices increased 20.1% to $384,250 year-over-year. Price per square foot increased 24.5% year-over-year to $193/square foot (up $38/square foot). At $193 per square foot, Matthews saw its highest ever average price per square foot in November 2021.
Average days on market were 11 days, down 26.7% from 15 days in the same time period one year ago and 28 days in November 2019. Average days on market were also down 2 days month-over-month. Median days on market were just 4 days.
Closed sales decreased 1.5% year-over-year. Pending sales increased 15.9% year-over-year. No doubt the increase in new listings helped pending sales increase. With the ongoing lack of inventory 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 101.3% of asking price (up 1.3% over November 2020), Matthews home buyers should expect minimal to no room to negotiate.
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Matthews (28105 Zip Code) Housing Market Highlights:
November 2021 versus November 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.
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.
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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