Matthews, North Carolina Housing Market Update/Video: August 2018
August 2018 home sales in Matthews, North Carolina (28105 zip code) saw home sale prices continuing to increase and days on market decreasing. Market inventory remains tight and buyer demand continues to exceed supply. Closed sales were down substantially in August, primarily attributable to lower inventory despite an increase in new listings during the month.
Average sale price of Matthews homes increased by 3.7% to just over $309,000 as compared with the same period one year ago. The median price of homes also increased by 10.6% versus August 2017.
Average days on market for property listings were 31 days, down two days versus August 2017. Median days on market were 10 days in August 2018. In other words, homes continue to sell quickly.
Average price per square foot increased by 9.2% to $131/square foot in August 2018 versus the same period in 2017. Pending sales were up 4.5% in August versus the same month last year. Closed sales were down 35.6%, attributable in great part to lack of inventory.
The median percent of original list price that sellers received for their homes was 98.1%, showing little negotiating room for homes in Matthews, North Carolina.
New listings increased 13.2% versus August 2017. Matthew area’s months supply of homes decreased 25% to just 2.1 months. Inventory of homes was down 23.1% year-over-year. The decrease in the supply of homes essentially indicates continuing increases in home prices.
Clearly, 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.
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PREVIOUS MATTHEWS, NORTH CAROLINA HOUSING MARKET UPDATES
Matthews Housing Market Update: January 2018
Matthews Housing Market Update: February 2018
Matthews Housing Market Update: March 2018
Matthews Housing Market Update: April 2018
Matthews Housing Market Update: May 2018
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 residential real estate experts and Matthews specialists, opening doors for Matthews home buyers and sellers for 20 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, exceed your expectations, and to prove that:
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