Matthews (28105 zip code) housing market remained a home seller’s market in January 2021, evidenced by extremely low inventory, barely over a one-half month’s supply of inventory, significant decreases in days on market, decrease in new listings, and increases in home prices. Pent-up buyer demand remains greater than the supply of homes to purchase.
Matthews Housing Market Update: January 2021
Latest news on the Matthews (28105 zip code) real estate market in January and what it means for you…
Matthews housing market continues to see extremely low inventory with the months supply of inventory razor-thin at 0.6 months (down 64.7% year-over-year from 1.7 months year-over-year). Inventory of homes was down 64.3% year-over-year. New listings decreased 15.3% year-over-year and homes sold in under one month, on average.
Average sale prices of homes increased 30.6% year-over-year to $352,672, while median home sale prices increased 26.3% to $341,713 year-over-year. Price per square foot increased 9.4% year-over-year to $151/square foot (up $13/square foot).
Average days on market were 29, down 10 days from the same time period one year ago. Median days on market decreased 6 days to 10 days versus one year ago. Clearly, Matthews homes sold almost as quickly as they came on the market in January 2021.
Closed sales decreased 13.8% year-over-year. Pending sales increased a scant 1.9% year-over-year. No doubt, this was 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 2.2% over January 2020), 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?