Matthews (28105 zip code) housing market remained a home seller’s market in December 2020, as evidenced by extremely low inventory, just barely over a one-half month’s supply of inventory, significant decreases in days on market, decrease in new listings. Pent-up buyer demand remains greater than the supply of homes to purchase.
Matthews Housing Market Update: December 2020
Latest news on Matthews’ (28105 zip code) real estate market in December and what it means for you…
Matthews housing market continues to see low inventory with the months supply of inventory razor-thin at 0.6 months (down 66.7% year-over-year from 1.8 months year-over-year). Inventory of homes was down 63.6% year-over-year. New listings decreased 25% year-over-year and homes sold quickly.
Average sale prices of homes increased 1.4% year-over-year to $340,219, while median home sale prices increased 12.7% to $325,000 year-over-year. Price per square foot increased 12.2% year-over-year to $156/square foot (up $17/square foot).
Average days on market were 16, down 25 days from the same time period one year ago. Median days on market decreased 10 days to 4 days versus one year ago. Clearly, Matthews homes sold almost as quickly as they came on the market in December 2020.
Closed sales increased 18.3% year-over-year. Pending sales decreased 33.3% year-over-year, no doubt due to lack of inventory and not due to a lack of buyer demand.
With a median selling price of 100% of asking price (up 1.1% over December 2019), buyers should expect minimal to no room to negotiate.
Want to know what this would mean for your family if you decide to buy or sell a Matthews home?