August 2017 home sales in Matthews, North Carolina (28105 zip code) saw home sale prices substantially increasing, days on market decreasing, but closed sales and pending sales staying somewhat flat, more than likely due to lack of inventory.
The average sale price of Matthews homes increased by 11.8% to just over $285,000 as compared with the same period one year ago.
Average days on market for property listings dropped by 1 day to 32 days from 33 days just one year ago--an 3.0% improvement over the same period last year. Median days on market also dropped by 18.2% to 9 days in August 2017.
Average price per square foot increased by 8.2% to $119/square foot in August 2017 versus the same period in 2016. Pending sales were essentially flat in August versus the same month last year, partially due to the lack of inventory and partially to the fact that by August many prospective home buyers have already purchased a home in time to move in for the new school year. August closed sales increased by 1.4%, also more than likely due to the lack of inventory.
During July 2017, the number of showings until pending contract per listing averaged 22 showings (up 4.8% versus last year) and the number of showings per listing averaged 8.9 (down 5.3% compared with August 2016) showings (again more than likely due to lack of inventory).
The median percent of original list price that sellers received for their homes was up 0.3% compared with last year at 98.4%, showing virtually no negotiating room for homes in Matthews, North Carolina.
New listings increased by 5.5% versus August 2016. Matthew area's months supply of homes increased 9.1% to 2.4 months, still keeping Matthews very much a seller's market.
Without doubt, it continues to be a true seller's market in the 28105 zip code and a very competitive environment for home buyers in Matthews, North Carolina. With inventory so tight, you might want to check out 10 of the hottest selling Matthews and Mint Hill neighborhoods to watch in 2017.
Matthews Local Market Update - August 2017
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This Charlotte, North Carolina real estate monthly update for Matthews, NC is brought to you courtesy of Nina Hollander and Carolinas Realty Partners, RE/MAX Executive, your Charlotte metro area real estate consultants and Matthews specialists.
If you are considering selling or purchasing a home in Matthews or anywhere in the Charlotte metro area, I would love an opportunity to earn your business, exceed your expectations, and to prove to you that:
Originally published on: http://activerain.com/blogsview/5107355/what-happened-in-the-matthews--nc-housing-market-in-august-2017-