Matthews Real Estate October 2020
Matthews real estate October 2020 remained a home seller’s market, as evidenced by extremely low inventory and months supply of inventory, decreases in days on market, and lower sales due to lack of inventory. Pent-up buyer demand remains greater than the supply of homes to purchase.
Matthews Real Estate October 2020 Update
Latest news on Matthews’ (28105 zip code) real estate market in October 2020 and what it means for you…
Matthews housing market continues to see low inventory with the months supply of inventory razor-thin at 1.1 months (down 47.6% year-over-year from 2.1 months). Inventory of homes was down 40.7% year-over-year. New listings decreased 2.3% year-over-year and homes sold quickly (in under two weeks on average).
Average sale prices of homes increased 13.9% year-over-year to $351,262, while median home sale prices increased 16.4% to $320,000 year-over-year. Price per square foot increased 9.5% year-over-year to $150/square foot (up $13/square foot).
Average days on market were 14, down 23 days from the same time period one year ago. Median days on market decreased 9 days to 3 days versus one year ago. Clearly, Matthews homes sold almost as quickly as they came on the market in October 2020.
Closed sales decreased 8.8% year-over-year, no doubt due to the lack of inventory to sell. Pending sales increased 4.4% year-over-year.
With a median selling price of 100% of asking price (up 1.4% over October 2019), buyers should expect minimal to no room to negotiate.
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Matthews Real Estate Highlights
October 2020 vs October 2019
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.
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Median Home Sale Price Trends For Matthews Homes
This Charlotte, North Carolina Matthews real estate October 2020 update is provided by Nina Hollander, Coldwell Banker Realty, Greater Charlotte 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 why experience matters and how:
“The Right Broker Makes All The Difference.”
