Matthews Real Estate: November 2023
Matthews real estate market in November 2023 saw higher median and average home sale prices month-over-month. Year-over-year, median and average sale prices increased 35+%. At 33 days, the days on market remained relatively low, despite increasing from the prior month and last year. Housing inventory decreased compared with the prior month and the prior year. New listings were down 56+% from the prior month and down 58+% from November 2023. List to sale price ratio was just under 100%, leaving little room for buyers to negotiate. Sales increased in November compared with the previous month and were up 100% compared with November one year ago.. With a month’s supply of inventory of 3.2 months, Matthews remained more of home seller’s market in November 2023.
MATTHEWS HOME SALE PRICES UP YEAR-OVER-YEAR AND MONTH-OVER-MONTH
Average sale price in November 2023 was $538,602, up 5% from $512,940 in the previous month of October. November’s average sale price increased 35.19% year-over-year from $398,410. The November 2023 average sale price was at its highest level compared with November 2022 and November 2021.
Median home sale price in November 2023 was $521,000, which was 19.43% higher than $436,250 in October 2023. Year-over-year, median home sale price improved 35.85% from $383,500 in November 2022. The November 2023 median sale price was at its highest level compared with November 2022 and 2021.
Price per square foot in November 2023 was $234, up from $228 in the previous month of October. Price per square foot was 10.38% higher than $212 in November 2022. November’s price per square foot was at its highest level since before 2021.
MATTHEWS DAYS ON MARKET REMAINED RELATIVELY LOW DESPITE AN UPTICK
Average days on market in November 2023 were 33 days, increasing from 18 days in October 2023 and increasing 21 days compared with November 2022. November’s days on market were at their highest level compared with November 2022 (12 days on market) and November 2021 (15 days on market). By the same token, Matthews homes could still be considered as selling relatively quickly at 33 days.
MATTHEWS HOUSING INVENTORY DOWN MONTH-OVER-MONTH | DOWN YEAR-OVER-YEAR
The number of properties for sale in November 2023 was 128, down 8.57% from 140 properties in October. Inventory was 26.86% lower than the 175 properties for sale in November 2022 and lower than the inventory level of 131 properties for sale in November 2021. The months supply of inventory declined to 3.2 months in November from 3.81 months in the prior month keeping Matthews more of a home seller’s market than a balanced market.
NEW LISTINGS IN MATTHEWS DRASTICALLY DOWN YEAR-OVER-YEAR & MONTH-OVER-MONTH
The number of new listings in November 2023 was 17, down 56.41% from the previous month’s 39 new listings. New listings were 58.54% lower than what we saw in November 2022 (41 new listings) and in November 2021 (74 new listings). November’s new listings were at their lowest level in over three years.
MATTHEWS SALES INCREASED YEAR-OVER-YEAR & MONTH-OVER-MONTH
Sales increased 5.26% in November 2023 to 40 from 38 in October 2023. Closed sales were also 100% higher than in November one year ago which saw 20 closed sales. Compared with November 2021, which saw 65 sales, November 2023 sales were lower.
MATTHEWS LIST TO SALE PRICE RATIO JUST UNDER 100%
The selling price at 99.64% of list price declined slightly from 100.33% in October and up from 99.36% in November one year ago. Matthews home buyers continued to see little room to negotiate on price in November 2023.
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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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