Matthews real estate market in April 2023 saw the average home price increase month-over-month. Average sale price decreased year-over-year, while median sale price increased both month-over-month and year-over-year. Days on market increased to their highest level in three years. Sales declined from March and compared with April 2022. Housing inventory was down from March, up slightly compared with April 2022. New listings were down.
Matthews Real Estate Market Highlights: April 2023
AVERAGE & MEDIAN HOME SALE PRICES UP & DOWN
Average sale price in April 2023 was $491,117, increasing 2.47% from $479,273 in March 2023. April’s average sale price decreased 3.75% year-over-year from $510,226.
Median home sale price in April 2023 was $461,200, which was 4.11% higher than $443,000 in March 2023. Year-over-year, median home sale prices increased 2.04% from $452,000 in April 2022. The April 2023 median home sale price was at its highest level compared with April 2022 and April 2021.
Price per square foot in April 2023 was $209, down from $213/square foot in March 2023 and increasing 1.95% from $205/square foot in April 2022.
DAYS ON MARKET IN MATTHEWS INCREASED IN APRIL
Average days on market in April 2023 were 60 days, up from 47 days in March 2023 and up 50 days from April 2022. This was the highest number of days on market we’ve seen in Matthews in three years.
Buyer foot traffic was lower compared with April one year ago, with the average number of showings per listing at 9.6 versus 14.9 showings in 2022. Compared with the most recent month of March 2023, foot traffic decreased by 3.4 showings per listing.
MATTHEWS HOUSING INVENTORY UP YEAR-OVER-YEAR
The number of properties for sale in April 2023 was 136, down 9.93% from 151 homes in March 2023. Inventory was 6.25% higher than the 128 properties for sale in April 2022. The April 2023 inventory was at its highest level compared with April 2022 (128 listings) and April 2021 (116 listings).
NEW LISTINGS WERE DOWN IN APRIL
The number of new listings in April 2023 was 57, down 8.06% from the previous month’s 62 listings. New listings were 20.83% lower than what we saw in April 2022 (72 new listings) and in April 2021 (79 new listings).
Sales declined in April 2023 to 37 from 49 in March 2023. Sales declined from 69 in April 2022 and 70 in April 2021. This was the lowest level of sales seen in the month of April in the past two years.
LIST TO SALE PRICE RATIO OVER 100% IN APRIL
With a selling price at 100.55% of list price, April 2023 the ratio increased 1.75% from March 2023, but was down from 104.94% in April 2022.
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