Matthews Real Estate May 2021
Matthews real estate May 2021 remained a home seller’s market, evidenced by extremely low inventory and with just barely over a one-half month’s supply of inventory and extremely low days on market. Matthews homes are selling as quickly as they come on the market. Pending sales were down in May year-over-year due to lack of inventory and new listings.
Matthews Real Estate May 2021 Update
Latest news on the Matthews real estate market (28105 zip code) in May 2021 and what it means for you…
Matthews housing market continues to see extremely low inventory with the months supply of inventory razor-thin at 0.6 months (down 64.7% year-over-year from 1.7 months in May 2020 and down from 2.5 months in May 2019). Inventory of homes was down 65.2% year-over-year. New home listings decreased 23.8% year-over-year. Matthews homes sold in about two weeks, on average.
Average sale prices of homes increased 1% year-over-year to $352,255. Median home sale prices increased 13.8% to $341,250 year-over-year. Price per square foot increased 18.3% year-over-year to $168/square foot (up $26/square foot).
Average days on market were 16 days, down 50% from 32 days the same time period one year ago. Median days on market decreased 12 days to 3 days versus one year ago, an 80% drop. Matthews homes sold almost as quickly as they came on the market in May 2021.
Closed sales increased 33.3% year-over-year. Pending sales decreased 29.3% year-over-year. With the lack of inventory and new listings, it’s no surprise that pending sales were down.
With a median selling price of 103.9% of asking price (up 5.9% over May 2020), buyers should expect minimal to no room to negotiate.
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Matthews Real Estate Market Highlights:
May 2021 vs May 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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This Charlotte, North Carolina real estate update for Matthews, NC is provided by Nina Hollander, Coldwell Banker Realty, Greater Charlotte area residential real estate expert and Matthews specialist. I’ve been opening doors for Matthews home buyers and sellers since 1999.
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 how:
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