Saint Matthews Real Estate Market Update: August 2025 Insights

Market Snapshot

Active: 85 homes are on the market, averaging $693,788 and about 42 days on market.

Closed: 45 homes sold, averaging $502,891, with an average of just 20 days on market.

Pending: 15 homes are pending, averaging $516,749 and 36 days on market.

Cancelled: 14 listings were cancelled, averaging $643,300 and nearly 55 days on market.

Expired: 2 homes expired unsold, averaging $2.66M and sitting for an average of 361 days.

Key Trends

1. Strong demand in the mid-market: Closed sales averaged $503K and sold in just 20 days.

2. Pending homes are close in price to the closed average, showing continued buyer strength.

3. Overpriced listings at the luxury level are struggling, with expired homes averaging $2.66M and nearly a year on market.

4. Active listings are priced well above closed averages, creating a gap that could slow absorption.

What This Means

For Buyers: Be ready to act quickly on mid-priced homes — they’re moving fast. At higher price points, you may have more leverage with sellers whose listings have lingered.For Sellers: Pricing is critical. The difference between selling in 20 days versus sitting on the market for 361 days is aligning with what buyers are willing to pay.

Final Thoughts

The Saint Matthews market remains active and competitive in August 2025. Mid-market homes are moving quickly, while overpriced or luxury listings are stalling. The key takeaway: price it right, and it will sell.

© 2025 Jay T. Pitts & Associates | RE/MAX Premier Properties