Matthews (28105 zip code) housing market remained a home seller’s market in September 2021, evidenced by extremely low inventory and a decrease in new listings year-over-year. Matthews homes are selling as quickly as they come on the market. Lack of inventory increased average and median home prices by double digits and decreased closed and pending sales in September 2021.
Matthews Housing Market Update: September 2021
Latest news on the Matthews (28105 zip code) real estate market in September 2021 and what it means for you…
Matthews housing market continues to see extremely low inventory with the months supply of inventory very thin at 0.7 months (down 50% year-over-year from 1.4 months in September 2020 and down from 2.2 months in September 2019). The months supply is also down 0.1 month versus August 2021. However you “slice it,” Matthews has been a home seller’s market for at least three years now. Inventory of homes was down 49% year-over-year. New home listings decreased 31.6% year-over-year.
Average sale prices of homes increased 19.3% year-over-year to $431,752. Matthews home prices have increased almost $130,000, on average, compared with September 2019. Median home sale prices increased 23.1% to $400,000 year-over-year. Median home prices are $115,000 higher in September 2021 than they were in August 2019. Price per square foot increased 24.7% year-over-year to $187/square foot (up $37/square foot). The price per square foot is a new record for Matthews homes.
Average days on market were 19 days, down 40.6% from 32 days in the same time period one year ago and 40 days ago in September 2019. Median days on market were flat at 4 days versus one year ago and 17 days from September 2019.
Closed sales decreased 9.2% year-over-year. Pending sales decreased 24.7% year-over-year. With the lack of inventory and new listings, it’s no surprise that 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 102.1% of asking price (up 2.1% over September 2020), 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?