What’s My Matthews NC Home Worth? | Home Values | Q3 2017

By Carol Fox | Matthews NC Homes for Sale

Oct 23
Matthews NC Home Values Report

What's My Matthews NC Home Worth? | Values Report Third Quarter 2017

What's my Matthews NC home worth?  You've heard that Matthews NC home values are rising.  Is that true for every home in the town?  Do you have more equity in your home today than you did last quarter or at the beginning of 2017?

This market report will help you understand what your home is worth whether you own a condominium, townhome or single family home.  If you want to buy a home in Matthews, you can learn what homes in Matthews are selling for.  You can also get an idea of how much competition you'll have in your purchase.  Is Matthews a buyer's market or a seller's market?

If you want to dig deeper and learn the value of your Matthews NC home, click on the "What's My Matthews NC Home Worth" button below to request an online comparative analysis.  Or call Carol Fox directly at 704-905-3935 for a detailed opinion of your home value.

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

Matthews NC Home Values

What happened to Matthews home prices in the third quarter of 2017?

The tables below show changes in the average and median sales prices for Matthews zip codes 28105 and 28104.  Learn how the housing market in zip codes 28104 and 28105 differ.

Single family values and changes are shown in the first table.  The second table shows what happened to condominium and townhome pricing.  You'll find key takeaways about Matthews NC home values after the tables.

Average and Median Sales Prices for Single Family Homes


2016

2017 Q2

2017 Q3

Change

Q2-3

YTD Change

28105

Average Sales Price

$273,379

$338,920

$329,550

-2.7%

+18%

Median Sales Price

$244,900

$290,000

$290,000

none

+16.3%

28104

Average Sales Price

$408,330

$433,061

$420,716

-2.8%

+4.3%

Median Sales Price

$408,330

$402,345

$380,000

-5.5%

-4.4%

Average and Median Sales Prices for Condos and Townhomes


2016

2017 Q2

2017 Q3

Change

Q2-3

YTD Change

28105

Average Sales Price

$189,271

$189,470

$267,385

+41.1%%

+41.4%

Median Sales Price

$145,000

$151,000

$285,000

+88.7%

+87.2%

28104

Average Sales Price

$148,079

$155,921

$165,988

+6.4%

+7.5%

Median Sales Price

$142,950

$149,900

$159,900

+6.6%

+5.6%

  • The average and median closed prices for single family homes in Matthews were lower in the third quarter of 2017 than the second by almost 3%.  Lower third quarter prices most likely reflect a slowdown from the extremely active first half of the year.
  • Year to date, the average sales price in Matthews NC 28105 for single family homes is up 18%.  In Matthews NC 28104, the average sales price is up 4.3%.  
  • Average sales prices for condominiums and townhomes rose over 40% in Matthews NC 28105.  This is due to several new luxury complexes that pulled the average price higher.
  • With no new townhome complexes in Matthews NC 28104, the average sales price increase there was a more realistic 6.4% in the third quarter.  The increase year to date is 7.5%.

How much is your Matthews home worth?

Call Carol Fox at 704-905-3935 for a free no-obligation market analysis.

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

Average sales price is not the only consideration when you ask "What's my Matthews NC home worth?"  Competing properties and how long they take to sell or days on market will determine the value of your home as well.

Competition and days on market will also affect how close you can expect your contract sales price to be to your asking price.  This is called list to sale ratio.

The table below shows some of these statistics for the third quarter of 2017.

​28105

28104

Single Family

Condos

Single Family

Condos

Homes Sold Q3

188

15

193

23

Average Days on Market

39

42

55

30

Average List/Sale Ratio

99.52%

98.99%

98.81%

99.05%

  • More single family homes sold in the third quarter 2017 than in the second quarter in both zip codes.  Fewer townhomes and condominiums sold in 28105  while the number increased in 28104.
  • It took longer for homes in all categories to sell in the third quarter than in the second perhaps reflecting a slowdown from the extremely active first half of the year.  In all cases, average days on market were below 60 days.
  • Many homes continue to sell above the asking price, an indication of a strong seller's market.  The average list-to-sale ratio for all homes was 98-99% for all categories in the third quarter.

The third quarter of 2017 saw a continuation of the strong seller's market in Matthews.  As of September 2017, Matthews NC 28015 had only a 2.4 month supply of homes for sale the same as the June 2017 supply.  In 28104, the supply of homes tightened to 3.7 months.  

A balanced market would have six months of supply.  Tight inventory accounts for the rise in Matthews NC home values.

Resources

Ready to Sell?

Are you ready to sell your Matthews NC home?  Please contact me for a more detailed opinion of value and a description of my real estate services for sellers.  Just click on the button below to contact me via email or feel free to give me a call at 704-905-3935.

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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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