Jan 15
Matthews NC Home Values Report

Matthews NC Home Values Report 2017

​Did Matthews NC home values increase or decrease in 2017?  Is Matthews a buyer's market or a seller's market?  This housing market trends report will give you an idea of what your Matthews NC home is worth and what you should know if you decide to sell.  If you are a buyer, you'll learn about the real estate market for purchases in Matthews.

​You'll find this home values report useful whether you wish to buy or sell an estate home or a cottage.  It includes market trends for luxury homes, affordable homes, and new homes.  If you are downsizing to one-level living, you'll find information about ranches in Matthews.  The section on homes with acreage will interest you if you prefer room to roam.

​If you are curious about the current value of your Matthews home, click on the What's My Matthews NC Home Worth? button below to request an online comparative market analysis.  Or call Carol Fox at 704-905-3935 for a detailed opinion of your home value.

​All statistics in this report are supplied by the Carolina Multiple Listing Service.

Matthews NC Home Prices

​The tables below show market trends for single family homes and condos/townhomes in Matthews.  Each table compares the 2016 real estate market with the 2017 market.  Statistics are given for each of the two Matthews zip codes.  Learn more about the differences between Matthews 28105 and Matthews 28104 here. Click on the button below to search homes for sale in Matthews.

Average and Median Sales Prices for Single Family Homes

28105

28104

2016

2017

Change

2016

2017

Change

Average Sales Price

$273,379

$310,856

+13.7%

$408,330

$422,129

+3.3%

Median Sales Price

​$244,900

$273,000

+11.4%

$408,330

$383,500

​-6.0%

Average and Median Sales Prices for Condos/Townhomes

28105

28104

2016

2017

Change

2016

2017

Change

Average Sales Price

$189,271

$199,738

+5.5%

$148,079

$167,878

+13.3%

Median Sales Price

​$145,000

$156,000

+7.5%

$142,950

$159,700

+11.7%

Matthews NC Home Values Key Takeaways

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    For single family homes, the average sales price rose more in Matthews NC 28105 than it did in Matthews NC 28014 in 2017.  The average 28105 sales price was up 13.7% while the 28104 average price rose only 3.3%.
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    ​The average median price for single family homes in 28104 actually fell 6% during the year.  This indicates the sale of more lower priced homes than the previous year.
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    ​The average and median sales prices for condominiums and townhomes also rose in 2017.  The rate of increase was reversed in the two zip codes with the average sales price up 13.3% in 28104 but only 5.5% in 28105.  The higher increases in 28104 are most likely due to the lower number of complexes and tighter inventory there.

​Buyer's Market or Seller's Market in Matthews NC?

Buying or selling, you need to know whether the market is tilted toward buyers or sellers.  Home buyers will have more negotiating strength if there is more than 7 months of inventory on the market.  Conversely, sellers have the upper hand if the supply of inventory falls below 5 months.

​The Matthews sellers market continued in 2017.  It was especially strong in the 28105 zip code where the year began with 2.2 months supply of homes and ended with 2.4 months.  Although weaker, Matthews NC 28104 was also a sellers market with 4.2 months of supply at the beginning of 2017 and 3.5 months at the end.  Higher prices followed the sellers market in Matthews.

The table below shows the number of homes sold, average days on market and list-to-sale ratio in each zip code for 2016 and 2017.  Homes took longer to sell in 28104 probably because of the higher amount of new construction there.  Most of the other numbers didn't change significantly from 2016 to 2017.

Single Family


Condo

28105

2016

2017

2016

2017

Homes Sold

615

623

103

​127

​Average Days on Market

39

33

35

25

Average List to Sale Ratio

98.56%

99%

98.44%

99%

28104

Homes Sold

638

666

42

72

Average Days on Market

64

52

21

20

Average List to Sale Ratio

98.13%

99%

98.65%

99%

​Matthews NC Property Types Report

​Luxury Homes in Matthews NC

Luxury homes in Matthews NC

Typical example of a Matthews NC luxury home.

You can find luxury homes in Matthews NC.  Upscale neighborhoods include golf course communities, gated communities and estate homes on large lots.  In this analysis, luxury homes are described as those priced at $750,000 and above.  The table below compares 2016 and 2017 market activity for luxury homes in zip codes 28105 and 28104.

28105

​28104

2016

2017

2016

2017

Closed Sales

10

17

53

49

Change

+70%

-7.5%

Heated Area Range

​2180-6439

3753-7374

3161-8167

​3310-11542

Highest Sales Price

​$1,345,000

​$1,591,763

​$1,648,000

$1,800,000

Average Sales Price

​$936,366

​$974,143

​$932,300

​$993,254

Change

+4%

​+6.4%

Median Sales Price

​$872,500

​$930,000

​$874,000

​$871,742

Change

​+6.5%

​-0.2%

Average Days on Market

77

85

​75

89

Average List to Sale Ratio

97.06%

100%

98.07%

​99%

Luxury Homes Key Takeaways

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    While the number of luxury homes available is much greater in 28104, 28105 saw a 70% increase in the number of such sales in 2017.  28104 had a slight decline in 2017.
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    The size of luxury homes increased in 2017 as did the top sales price in both areas.  The highest sold price was $1,800,000.
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    The average sales price in both areas increased to nearly one million dollars in 2017,  The change over 2016 was 4% in 28105 and 6.4% in 28104.  Regarding the median sales price, an increase of 6.5% in 28105 and a decrease of .2% in 28104 showed that 28105 saw more higher priced homes sell while the price range of homes sold in 28104 was fairly stable.
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    Luxury homes are on the market longer than properties in lower price ranges.  At almost 90 days, average days on market in 2017 were slightly higher than in 2016.  The average list to sale price ratio increased to nearly roughly 100% in both zip codes.

Affordable Homes in Matthews NC

Matthews NC homes for sale

Typical affordable home in Matthews NC.

Affordable homes in Matthews NC are defined as those priced under $300,000.  They include both single family homes and townhomes.  The 2017 affordable home market is summarized in the table below.

28105

​28104

2016

2017

2016

2017

Closed Sales

448

504

238

301

Change

+12.5%

+26.4%

Heated Area Range

511-4142

785-3656

920-3589

​920-3600

Lowest Sales Price

​$25,000

​$55,500

​$68,300

$98,000

Average Sales Price

​$211,477

​$217,150

​$219,152

​$213,920

Change

+2.6%

-2.3%

Median Sales Price

​$214,000

​$227,500

​$224,950

​$217,000

Change

​+6.3%

​-3.5%

Average Days on Market

26

21

​31

19

Average List to Sale Ratio

98.76%

99%

98.13%

​99%

Affordable Homes Key Takeaways

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    More affordable homes sold in Matthews in 2017 than in 2016.  In 28105, affordable home sales were up 12.5%.  They increased 26.4% in 28104.
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    The average and median closed prices increased in 28105 but fell in 28104 in 2017.  The average sales prices for affordable homes were $217,150 and $213,920 respectively in those zip codes.
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    Like other segments of the Matthews real estate market, homes sold faster and at nearly 100% of the asking price.

​Ranch Homes in Matthews NC

Ranch and patio homes in Matthews NC

Typical Polo Club of Matthews patio home.

Do you prefer one-level living?  Matthews is a great place to find ranches and patio homes.  If you are a baby boomer, senior or retiree, you'll find a number of active adult 55+ communities in Matthews and the surrounding areas.

The table below shows home values for ranches with all rooms on the main level and ranches with a bonus room over the garage.  The statistics include both detached single family homes as well as attached townhomes and patio homes.


28105

​28104

2016

2017

2016

2017

Closed Sales

146

148

87

100

Change

+1.3%

+14.9%

Heated Area Range

​511-2588

1000-2464

920-3152

​920-2991

Lowest Sales Price

​$25,000

​$103,425

​$68,700

​$98,000

Highest Sales Price

$289,900

​$300,000

$287,000

$297,000

Average Sales Price

​$167,195

​$213,550

​$188,717

​$199,487

Change

+27.7%

​+5.7%

Median Sales Price

​$175,000

​$224,500

​$185,000

​$188,500

Change

​+28.2%

+1.8%

Average Days on Market

14

22

24

11

Average List to Sale Ratio

98.78%

99%

97.49%

​100%

Ranch Homes Key Takeaways

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    The number of ranches sold in 2017 increased slightly in Matthews 28105 by 1.3%.  Ranch sales were higher in 28104 increasing 14.9%.  This larger increase is most likely due to several active adult communities coming online during the year.
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    While the top sales prices in 2017 were similar to those in 2016 in both zip codes, the lowest sales prices were substantially higher.  This resulted in average and median sales price increases of approximately 28% in 28105.  28104 saw lower average and median sales price increases of 5.7% and 1.8% respectively.
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    ​Matthews ranch homes continued to sell very well in 2017. Average days on market was less than thirty days with homes selling at 99-100% of asking on average.

Homes with Acreage in Matthews NC

Homes with acreage in Matthews NC

Typical home with acreage in Matthews NC.

Do you prefer living in the country?  Or perhaps a suburban neighborhood with privacy and room to garden?  You can find homes with acreage in Matthews NC.  The table below summarizes Matthews NC home values for properties with at least an acre.

28105

​28104

2016

2017

2016

2017

Closed Sales

38

32

121

120

Change

-15.1%

-0.8%

Acreage Range

1.13-2.5

1-8.4

1-7.5

​1-12.4

Closed Price Range

​$107,000-$947,500

$170,000-$989,000

​$95,000-$1,648,000

$185,000-$1,800,000

Average Sales Price

​$236,350

​$377,906

​$453,819

​$502,687

Change

+59.8%

​+10.7%

Median Sales Price

​$245,950

​$362,450

​$400,000

​$425,000

Change

​+47.3%

+6..2%

Average Days on Market

60

47

84

69

Average List to Sale Ratio

99.23%

97%

97.27%

​98%

Acreage Homes Key Takeaways

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    There were four times as many acreage sales in Matthews 28104 in both 2016 and 2017 due to the more rural nature of the area.
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    Because the lowest priced acreage homes in both areas increased substantially in both zip codes, the average and median sales prices increased as well, particularly in 28105.

New Construction in Matthews NC

New construction in Matthews NC

Typical model home in a Matthews NC new home community.

​Opportunities to buy a new home are plentiful in Matthews.  More new home communities are available in Matthews 28104 because there is more raw land there for construction.  In 28105, new homes tend to be built among or in older neighborhoods.  Because several new home communities opened in 28105 during 2017, the number of closed new homes  increased substantially over 2016.

The table below shows statistics from new homes listed in the Carolina Multiple Listing Service (MLS).  It's important to understand that not all new homes are listed through the MLS as builders will often contract with purchasers without entering the sale in the MLS.

28105

​28104

2016

2017

2016

2017

Closed Sales

18

57

142

164

Change

+216.6%

+15.4%

Heated Area Range

1791-5173

2113-5940

1558-6895

​1476-6547

Closed Price Range

$231,000-$846,000

$302,065-$1,591,763

$259,885-$1,350,197

$215,000-$1,390,355

Average Sales Price

$450,493

​$510,765

​$571,529

​$551,696

Change

+13.3%

-3.4%

Median Sales Price

​$423,750

​$409,000

​$504,822

​$465,905

Change

-3.4%

​-7.7%

Average Days on Market

166

116

92

83

Average List to Sale Ratio

97.56%

102%

99.25%

​100%

New Construction Key Takeaways

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    Because several new home communities opened in in 2017, new construction closings in 28105 were up over 200%.  There were many more closings in 28104 where new home sales increased  15.4%.
  • check
    The average and median closed prices for both zip codes were dependent upon the price range of the new home communities that were selling in 2017 versus 2016.  Three out of four indicators skewed toward lower prices in 2017.
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    ​New construction typically shows longer average days on market because builders enter the homes into the MLS before they are complete.  In 2017, average days on market dropped in both zip codes.  The average list to sale ratio increased to 100% and over showing that demand was so strong builders were less likely to negotiate on price.

Thinking about selling your Matthews home?

The supply of homes in Matthews is tight and prices will continue to rise in 2018.  A professional market analysis of your home will help you understand Matthews NC home values and get the highest reward from your sale.

Call Carol Fox at 704-905-3935 to schedule a free, no-obligation evaluation of your home's value.

Our experience with Carol was amazing from the time we decided to put our home on the market till the final closing.  She walked us through the tricky and complicated real estate process with the utmost professionalism and know-how.  We highly recommend her to anyone seeking to sell and market their home.

Greg and Carolyn Phillips


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About the Author

Thank you for visiting my profile and getting to know me. My husband and I moved to the Matthews area over thirty years ago and have enjoyed watching Charlotte and the surrounding areas grow into the dynamic region it is today. I have specialized in Matthews, South Charlotte, Mint Hill, Weddington, Waxhaw, Indian Trail and the other small towns of Union County for over 30 years. I can walk in your shoes whether you are a buyer or a seller. Every year half of my real estate practice is devoted to helping buyers find the right home and neighborhood and half is devoted to helping sellers get the greatest reward from selling their real estate.

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