Matthews (28105 zip code) housing market remained a home seller’s market in September 2020, as evidenced by extremely low inventory and months supply of inventory, decreases in days on market, and increased pending and closed sales. Pent-up buyer demand is still greater than supply of homes to purchase.
Matthews Housing Market Update: September 2020
Latest news on Matthews’ (28105 zip code) real estate market in October and what it means for you…
Matthews homes sales continued to rebound in September 2020, despite the pandemic, as evidenced by the 34.3% increase in pending sales compared with September 2019.
Matthews housing market continues to see low inventory with the months supply of inventory razor-thin at 0.9 months (down 59.1% year-over-year from 2.2 months). Inventory of homes was down 51.1% year-over-year. Although new listings increased 21.6% year-over-year, homes sold quickly and lack of inventory was in no way alleviated.
Average sale prices of homes decreased 21.1% year-over-year to $366,172, while median home sale prices increased 14.1% to $325,000 year-over-year. Price per square foot increased 10.2% year-over-year to $151/square foot (up $14/square foot).
Average days on market were 32, down 8 days from the same time period one year ago. Median days on market decreased by 13 days to 4 days versus one year ago. Clearly, Matthews homes sold almost as quickly as they came on the market in September 2020.