Matthews (28105 zip code) real estate report for March 2020. Matthews remained a seller’s market in March 2020 with the months supply of inventory razor thin at 1.5 months (down 34.6% year-over-year). Inventory was down 29.5%, as were new listings, which were down 5.9% in March. Closed sales increased significantly in March. Average home sale prices were down slightly, while median sale prices were up. Days on market were down dramatically.
Matthews Real Estate Report: March 2020
Latest news on the Matthews real estate market and what it means for you…
Matthews remained a seller’s market in March 2020 with the months supply of inventory remaining razor-thin at 1.5 months (down 34.6% year-over-year from 2.3 months). Inventory was down 29.5%. New listings also decreased 5.9% versus the same month one year ago.
Average sale prices of homes decreased 5.1% year-over-year to $328,363, while median home sale prices increased 4.6% to $305,000 year-over-year. The decrease in average sale prices is less indicative of lower home values in Matthews than of the price mix of home sold in March. Price per square foot increased 8.8% year-over-year to $148/square foot (up $12/square foot).
Average days on market were 29, down 16 days from one year ago and down 19 days month-over-month. Median days on market decreased to 7 days versus one year ago and were 21 days lower month-over-month.
Closed sales increased 22.9% year-over-year. Pending sales dropped 18.5% year-over-year. Hard at this point in time to say how much of the drop was due to COVID-19 shelter in place orders which came in late March or as a result of lack of inventory.
With homes selling at 98.9% of asking price (up 1.7% over March 2019), buyers should expect minimal room to negotiate.
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This Charlotte, North Carolina real estate monthly update for Matthews is provided byNina Hollander and Carolinas Realty Partners with Coldwell Banker Residential Brokerage, your Matthews area specialists and Charlotte metro area residential real estate experts. We’ve been opening doors for Matthews area home buyers and sellers for 20+ years.
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