Matthews Real Estate: July 2023
Matthews Real Estate Market Highlights: July 2023
Matthews real estate market in July 2023 saw higher median home sale prices year-over-year. Days on market declined 18 days from June. Housing inventory was flat compared with June 2023, but new listings declined 22.4% from June and 42.31% from July one year ago. List to sale price ratio still at 100+%, leaving little room for buyers to negotiate. Low inventory and lack of new listings kept Matthews a home seller’s market with 2.85 months supply of inventory.
HOME SALE PRICES HELD THEIR OWN
Average sale price in July 2023 was $554,705, essentially equal to the average sale price in the previous month of June. July’s average sale price increased 4.69% year-over-year from $529,866. The July 2023 average sale price was at its highest level compared with July 2022 and July 2021.
Median home sale price in July 2023 was $525,000, which was 9.47% lower than $579,900 in June 2023. Year-over-year, median home sale price increased 1.94% from $515,000 in July 2022. The July 2023 median home sale price was at its highest level compared with July 2022 and July 2021. The median sale price in July 2023 was also at its highest level since August 2020.
Price per square foot in July 2023 was $221, flat compared with the previous month of June. Price per square foot was 2.79% higher than $215 in July 2022. July’s price per square foot was at its highest level since August 2020.
DAYS ON MARKET IN MATTHEWS DECLINED 35+% FROM JUNE
Average days on market in July 2023 were 33 days, decreasing from 51 days in June 2023 and increasing 24 days compared with July 2022. July’s days on market were at their highest level compared with July 2022 (9 days on market) and July 2021 (10 days on market).
MATTHEWS HOUSING INVENTORY FLAT MONTH-OVER-MONTH | DOWN YEAR-OVER-YEAR
The number of properties for sale in July 2023 was 134, equal to the number of homes for sale in the prior month of June. Inventory was 12.99% lower than the 154 properties for sale in July 2022. July’s inventory was higher than in 2021 when inventory stood at 127 properties for sale. With the months supply of inventory under three months, Matthews remained a home seller’s market.
NEW LISTINGS IN MATTHEWS DOWN YEAR-OVER-YEAR & MONTH-OVER-MONTH
The number of new listings in July 2023 was 45, down 22.41% from the previous month’s 58 new listings. New listings were 42.31% lower than what we saw in July 2022 (78 new listings) and in July 2021 (84 new listings). The July 2023 new listings were at their lowest level compared with July 2022 and July 2021.
MATTHEWS SALES DECLINED YEAR-OVER-YEAR & MONTH-OVER-MONTH
Sales declined in July 2023 to 47 from 55 in June 2023. Closed sales were also 22.95% lower than in July one year ago. The July 2023 sales were at their lowest level compared with July 2022 (61 sales) and July 2021 (67 sales).
LIST TO SALE PRICE RATIO OVER 100%
With a selling price at 100.52% of list price, July’s ratio decreased slightly from June 2023 when it was just under 101.54% and also slightly down from 101.67% in July 2022. Matthews home buyers continue to see little room to negotiate on price.
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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 24+ 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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