Matthews (28105 zip code) housing market remained a home seller’s market in May 2021, evidenced by extremely low inventory and with just barely over a one-half month’s supply of inventory and extremely low days on market. Matthews homes are selling as quickly as they come on the market. Pending sales were down in May year-over-year due to lack of inventory and new listings.
Matthews Housing Market Update: May 2021
Latest news on the Matthews (28105 zip code) real estate market in May 2021 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 in May 2020 and down from 2.5 months in May 2019). Inventory of homes was down 65.2% year-over-year. New home listings decreased 23.8% year-over-year. Matthews homes sold in about two weeks, on average.
Average sale prices of homes increased 1% year-over-year to $352,255. Median home sale prices increased 13.8% to $341,250 year-over-year. Price per square foot increased 18.3% year-over-year to $168/square foot (up $26/square foot).
Average days on market were 16 days, down 50% from 32 days the same time period one year ago. Median days on market decreased 12 days to 3 days versus one year ago, an 80% drop. Matthews homes sold almost as quickly as they came on the market in May 2021.
Closed sales increased 33.3% year-over-year. Pending sales decreased 29.3% year-over-year. With the lack of inventory and new listings, it’s no surprise that pending sales were down.
With a median selling price of 103.9% of asking price (up 5.9% over May 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?