Market Update for Matthews, Mint Hill, and Charlotte NC (MLS Area 3)

For all neighborhoods west of Independence Blvd and South of 24/27 in Mecklenburg County, including the towns of Mint Hill, Matthews, and Charlotte (Plaza-Midwood, Commonwealth, Sheffield Park, Callaway Plantation, Callaway Forest, Mintworth Village, Morris Farms, Marlwood Acres, Farmwood, Telfair, Annecy, Olde Sycamore, Ashe Plantation, Plantation Falls Estates)

Map of all the neighborhoods covered in Area 3

Data gathered for November 1, 2009 - Novmeber 30, 2009 from the CMLS

New Active Listings: 125

In comparison to: -13.79% October | -13.19% 2008 | -29.38% 2007 | -8.09% 2006 | -11.97% 2005

Pending Sales: 65

In comparison to: -17.72% October | +6.56% 2008 | -46.72% 2007 | -56.08% 2006 | -43.48% 2005

Sold Units: 57

In comparison to: -24% October* | +18.75% 2008 | -50.86% 2007 | -42.42% 2006 | 47.71% 2005

* Since 2005, sales in Matthews, Mint Hill, and east Charlotte (area 3) seasonally adjust an average of -10.65% in the transition from October to November.

Average Sales Price: $165,594

In comparison to: +8.92% October | -16.61% 2008 | -7.20% 2007 | +2.09% 2006 | +15.92% 2005

Median Sales Price: $130,000

Average Days on Market: 114

In comparison to: +22.58% October | +25.27% 2008 | +42.5% 2007 | +35.71% 2006 | 50% 2005

Seller Concession: 61.4% of the sales in southeast Charlotte, Matthews, and Mint Hill offered a buyer inventive averaging $3,262.

Buyer Financing

  • Conventional: 26
  • FHA: 22
  • Cash: 6
  • Other: 2
  • VA: 1

Sold Price as a Percentage of Tax Value

The single family detached homes that sold in November closed at an average of 120.64% of their assessed tax values with only 22 units selling for less than tax value.
Sales Price as a Percentage of Original List Price

On average, sellers received 89.64% of their original asking price or 88.39% when concessions are considered. Of the homes that closed in less than 99 days, the seller received 94.27% of their original asking price while homes that were on the market greater than 180 days received only 83.72%.

Jonathan Osman
Charlotte NC Homes for Sale