Matthews real estate market remained a home seller’s market in June 2022. Low inventory increased average and median home prices by double digits, reduced days on market. Home sellers in the 28105 zip code saw a median 104.7% of list price in final sale price.
Matthews Housing Market Update: June 2022
Latest news on the Matthews (28105 zip code) real estate market in June 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 0.9 months. Listing inventory did increase but equal to only 10 additional homes on market in June and just three new listings coming on market in June. With fewer days on market, sale prices increasing year-over-year and list to sale price ratio increasing, it would appear that Matthews home sellers remain in the driver’s seat for now.
Average sale prices of homes increased 23.2% year-over-year to $497,581. Average sale prices also increased approximately $24,000 from May 2022. Average sale price was about $180,000 higher than in June 2020. Median home sale prices increased 23.2% to $450,000 year-over-year. Median sale prices also increased approximately $5,000 month-over-month. Compared with June 2020, median sale prices were approximately $165,000 higher in June 2022. Median sale prices in June were just $1,500 lower than the record set in April 2022.
Price per square foot increased 23.9% year-over-year to $218/square foot from $176/square foot in June 2021, setting a new record for square foot prices in Matthews.
Average days on market were eight days with no change compared with the same time period one year ago. Average days on market were four days lower month-over-month. Median days on market were just three days with no change compared with the same month one year ago.
Closed sales decreased 12.5% year-over-year. Pending sales decreased 20.0% year-over-year. While some of the decrease can be attributed to low inventory, some of the decrease can also be attributed to the fact that prospective buyers may now priced out of the Matthews housing market as a result of home prices that have continued to increase by double digits coupled with increased mortgage rates.
With a median selling price at 104.7% of list price (up 0.5% month-over-month), Matthews home buyers had minimal room to negotiate in June.
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