May 2017 home sales in Matthews, North Carolina (28105 zip code) saw home sale prices increasing, days on market decreasing, but with closed sales decreasing, more than likely due to lack of inventory.
The average sale price of Matthews homes increased by 2.5% to just under $267,000 as compared with the same period one year ago.
Average days on market for property listings dropped by 9 days to 30 days from 39 days just one year ago--a 23.1% improvement over the same period last year. Median days on market also dropped by 35.7% to 9 days in May 2017.
Average price per square foot increased by 6.5% to $115/square foot in May 2017 versus the same period in 2016. Pending sales increased slightly by 2.1% in May versus the same month last year, more than likely due in great part to the lack of inventory. April closed sales decreased 6.6%, also more than likely due to the lack of inventory.
During May 2017, the number of showings until pending contract per listing averaged 21 showings (no change from last year) and the number of showings per listing averaged 8 (down 2.4% compared with May 2016) showings. Given the reduced number of available homes for sale, it's not surprising that those homes listed got less "traffic" prior to going under contract as they were going under contract more quickly.
The median percent of original list price that sellers received for their homes was up 0.5% compared with last year at 98.4%, showing virtually no negotiating room for homes in Matthews, North Carolina.
New listings increased by 9.1% versus May 2016. Matthew area's months supply of homes increased slightly by .2 months most likely due to the slightly higher increase in listings than we've seen for months.
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 - May 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 at: http://activerain.com/blogsview/5066214/what-happened-in-the-matthews--nc-housing-market-in-may-2017