Matthews Real Estate February 2024
Matthews real estate February 2024 saw both median and average home sale prices mixed, after increasing by double digits in the previous month. At 18 days, the days on market remained low and down month-over-month and year-over-year. Housing inventory was essentially flat, after decreasing last month to its lowest level since March 2022. New listings increased from the prior month and from February 2023. List to sale price ratio improved to just under 101%. Sales increased 150% month-over-month after declining last month to their lowest level in one year. With a month’s supply of inventory declined more than four months from January to 3.02 months, moving Matthews moved into home seller territory.
MATTHEWS REAL ESTATE: FEBRUARY 2024 HIGHLIGHTS
MATTHEWS HOME SALE PRICES MIXED
Average sale price in February 2024 was $535,221, down 8.33% from $583,844 in the previous month of January. February’s average sale price increased 13.7% year-over-year from $470,717. The February 2024 average sale price was at its highest compared with January 2023 and 2022.
Median home sale price in February 2024 was $451,500, down 4.95% from $475,000 in the previous month of January. Year-over-year, median home sale price declined 2.48% from $462,998 in February 2023. It’s likely that some of this decline is from the price mix of homes sold in Matthews in February and not due to an overall decline in home values in Matthews.
Price per square foot in February 2024 was $231, increasing 9.48% from the previous month. Price per square foot was 7.94% higher than $214 in February 2023.
MATTHEWS DAYS ON MARKET DECLINE TO JUST 18 DAYS
Average days on market in February 2024 were 18 days, down nine days from one month ago and down 50% from 36 days compared with February 2023. Compared with February 2022, average days on market were six days higher in 2024.
MATTHEWS HOUSING INVENTORY FLAT MONTH-OVER-MONTH & YEAR-OVER-YEAR
The number of properties for sale in February 2024 was 121, up 1.68% from 119 properties in January 2024 and February one year ago. The months supply of inventory declined to 3.02 months in February, pushing Matthews into a seller’s market.
NEW LISTINGS IN MATTHEWS UP MONTH-OVER-MONTH & YEAR-OVER-YEAR
The number of new listings in February 2024 was 50, up 13.64% from the previous month’s 44 new listings. New listings were 61.29% higher than what we saw in February 2023 (31 new listings), but slightly higher than in February 2022 (47 new listings).
MATTHEWS SALES UP AFTER DECLINING IN JANUARY TO THEIR LOWEST LEVEL IN MORE THAN ONE YEAR
Home sales improved 150% in February 2024 to 40 from 16 in the previous month. Closed sales were also 11.11% lower than in February one year ago which saw 36 closed sales. Compared with February 2022, which saw 47 sales, February 2024 were lower.
MATTHEWS LIST TO SALE PRICE RATIO JUST UNDER 101%
The selling price at 100.91% of list price increased from 98.15% in January and from 99.04% in February one year ago.
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MORE INFORMATION ON THE MATTHEWS HOUSING MARKET’S PERFORMANCE
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This Charlotte, North Carolina real estate monthly update for Matthews, NC is provided by Nina Hollander with Coldwell Banker Realty, Greater Charlotte residential real estate expert and Matthews specialist. I’ve been opening doors for Matthews home buyers and sellers for 25 years.
If you’re considering selling or purchasing a home in Matthews or anywhere in the Charlotte metro area, I’d love an opportunity to earn your business, to exceed your expectations, and to show you why experience matters and how:
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Matthews Real Estate Report February 2023
