Matthews (28105 zip code) housing market remained a home seller’s market in January 2022, evidenced by low inventory and fewer days on market. Matthews homes are selling as quickly as they come on the market. Lack of inventory increased average (+40.1%) and median home prices by double digits and decreased closed sales in January 2022.
Matthews Housing Market Update: January 2022
Latest news on the Matthews (28105 zip code) real estate market in January 2022 and what it means for you…
Matthews housing market continued to see low inventory at the start of the new year with the months supply of inventory just under one-half month at 0.4 months (down 50% year-over-year from 0.8 months in January 2021 and down from 1.7 months in January 2020). The months supply of inventory also dropped month-over-month. However you “slice it,” Matthews has been a home seller’s market for at least three years now. Inventory of homes was down 47.3% year-over-year, despite a small increase in new listings of homes of 5.3% year-over-year (equal to three additional homes listed).
Average sale prices of homes increased 40.1% year-over-year to $482,843. Median home sale prices increased 13.9% to $381,500 year-over-year. Price per square foot increased 39.2% year-over-year to $206/square foot from $148/square foot one year ago. This set a new record high in price per square foot for Matthews homes.
Average days on market were 13 days, down 51.9% from 27 days in the same time period one year ago and from 39 days in January 2020. Median days on market were just 3 days, down 62.5% from 8 days year-over-year and down 13 days compared with January 2020.
Closed sales decreased 20% year-over-year. Pending sales increased 21.4% year-over-year. The 34.5% increase in new listings in December most likely helped pending sales increase in January. With the ongoing lack of inventory, however, it’s no surprise that closed sales were down. There is also 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 102.3% of asking price (up 2.3% year-over-year), Matthews home 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?
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: