Matthews (28105 zip code) housing market remained a home seller’s market in April 2022. Lack of inventory increased average and median home prices by double digits, setting new home price records, and negatively impacting closed and pending sales.
Matthews Housing Market Update: April 2022
Latest news on the Matthews (28105 zip code) real estate market in April 2022 and what it means for you…
Matthews housing market continued to see low inventory with the months supply of inventory under one month at 0.7 months (flat year-over-year and down from 2.0 months in April 2020). However you “slice it,” Matthews has been a home seller’s market for more than three years now. Inventory of homes was down 15.1% year-over-year, further exacerbated by no increase in new listings. Demand for homes in Matthews was also evident in the average 25.4 showings per home listed during April.
Average sale prices of homes increased 38.7% year-over-year to $524,881, setting a new high record for Matthews home prices. Average sale price was up month-over-month and and is about $214,000 higher than in 2020. Median home sale prices increased 25.7% to $450,000 year-over-year and was also $45,000 higher month-over-month. This set a new record for median home prices in Matthews. Price per square foot increased 21.2% year-over-year to $206/square foot from $170/square foot in April 2021, setting a new record for square foot prices in Matthews.
Average days on market were 21 days compared with 9 days in the same time period one year ago. Median days on market were just 4 days, one day higher than in the same month one year ago.
Closed sales decreased 4.2% year-over-year. Pending sales decreased 26.7% year-over-year. There remains the question of how many prospective buyers are now priced out of the Matthews housing market due to home prices that have continued to increase by double digits.
With a median selling price of 105.4% of asking price (up 2.6% year-over-year), Matthews home buyers should expect minimal to no room to negotiate. Month-over-month, the median sale price increased 2.4%.
Want to know what this would mean for your family if you decide to buy or sell a Matthews home?
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, to exceed your expectations, and to show you why experience matters and how: