Matthews real estate market in March 2023 saw the average home price increase month-over-month, while the median home sale price softened month-over-month. Average sale price decreased year-over-year, while median sale price increased. Days on market increased to their highest level in three years. New listings increased month-over-month, but were still lower compared with one year ago. The number of homes sold increased month-over-month; decreased year-over-year.
Matthews Real Estate Market Highlights: March 2023
AVERAGE & MEDIAN HOME SALE PRICES UP & DOWN
Average sale price in March 2023 was $479,273, increasing 1.82% from $470,717 in February 2023. March’s average sale price decreased 6.5% year-over-year from $512,614.
Median home sale price in March 2023 was $443,000, which was 4.32% lower from $462,998 in February 2023. Year-over-year, median home sale prices increased 9.79% from $403,500 in March 2022. The March 2023 median home sale price was at its highest level compared with March 2022 and March 2021.
Price per square foot in March 2023 was $213, essentially flat compared with February 2023 and increasing 4.93% from $203/square foot in March 2022.
DAYS ON MARKET IN MATTHEWS INCREASED IN MARCH
Average days on market in March 2023 were 47 days, up from 36 days in February 2023 and up 39 days from March 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 March one year ago, with the average number of showings per listing at 13 versus 22.3 showings in 2022. Compared with the most recent month of February 2023, foot traffic decreased by just under one showing per listing.
MATTHEWS HOUSING INVENTORY UP YEAR-OVER-YEAR | NEW LISTINGS INCREASED
The number of properties for sale in March 2023 was 149, up 17.32% from 127 homes in February 2023. Inventory was 31.86% higher than the 113 properties for sale in March 2022. The March 2023 inventory was at its highest level compared with March 2022 (113 listings) and March 2021 (114 listings), but was still lower than the inventory we saw since in the months of April through December 2022.
The number of new listings in March 2023 was 61, up 96.8% from the previous month’s 31 listings. New listings were slightly lower than what we saw in March 2022 (64 new listings) and slightly higher than in March 2021 (60 new listings). New listings in Matthews were at their highest level since August 2022.
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