Matthews (28105 zip code) housing market remained a home seller’s market in October 2021, evidenced by low inventory and a decrease in new listings year-over-year. 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 October 2021.
Matthews Housing Market Update: October 2021
Latest news on the Matthews (28105 zip code) real estate market in October 2021 and what it means for you…
Matthews housing market continues to see low inventory with the months supply of inventory still under one month at 0.9 months (down 35.7% year-over-year from 1.4 months in October 2020 and down from 2.1 months in October 2019). However you “slice it,” Matthews has been a home seller’s market for at least three years now. Inventory of homes was down 43.6% year-over-year. New listings of homes decreased 3.4% year-over-year.
Average sale prices of homes increased 21.2% year-over-year to $431,961. Median home sale prices increased 22.9% to $399,500 year-over-year. Price per square foot increased 21.3% year-over-year to $182/square foot (up $32/square foot).
Average days on market were 13 days, down 13.3% from 15 days in the same time period one year ago and 37 days ago in October 2019. Average days on market were also down 6 days month-over-month. Median days on market were flat at 4 days versus one year ago and 12 days in October 2019.
Closed sales decreased 14.5% year-over-year. Pending sales increased 14.1% year-over-year. With the lack of inventory and new listings, 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 100.5% of asking price (up 0.5% over October 2020), 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:
October 2021 versus October 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.
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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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