Is Chester, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Chester has remained a Seller's Market.
Housing Prices in Chester, VA
How much do homes in Chester, VA cost?
Median Sold Price
$362,545
$184/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Chester was $362,545 in May 2024, up 3.6% from last year, and the median price per square foot was $184.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $300K | N/A |
2 Bedrooms | $327.5K | $332K | +1.4% |
3 Bedrooms | $304.7K | $329.7K | +8.2% |
4 Bedrooms | $375K | $391K | +4.3% |
5+ Bedrooms | $471K | $489.3K | +3.9% |
Summary: Chester housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 1.4%, 3 bedroom homes increased by 8.2%, 4 bedroom homes increased by 4.3%, and 5+ bedroom homes increased by 3.9%.
Median Sold Price Compared To Nearby Cities
Hopewell | $195K | $227K | +16.4% |
Colonial Heights | $250.7K | $278.5K | +11.1% |
Dale | $325K | $340K | +4.6% |
Chester | $350K | $362.5K | +3.6% |
Bermuda | $339.9K | $350.6K | +3.1% |
Housing Supply in Chester, VA
How many homes are available in Chester, VA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
222 | 228 | +2.7% |
Summary: The Chester real estate market had 228 homes for sale in May 2024, a 2.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 1 | -50.0% |
2 Bedrooms | 11 | 17 | +54.5% |
3 Bedrooms | 80 | 86 | +7.5% |
4 Bedrooms | 82 | 79 | -3.7% |
5+ Bedrooms | 47 | 45 | -4.3% |
Summary: The Chester housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 54.5%, 3 bedroom homes increased by 7.5%, 4 bedroom homes decreased by 3.7%, and 5+ bedroom homes decreased by 4.3%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
54 | 56 | +3.7% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
15 Homes Were Sold
At Asking
29 Homes Were Sold
Over Asking
Summary: A total of 56 homes were sold or pending in Chester in May 2024, up by 3.7% month-over-month. Of the 56 sold homes, 21% were sold under asking, 27% were sold at asking, and 52% were sold over asking.
Days on Market for Chester, VA
How long does it take to sell a home in Chester, VA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
18 Days | 27 Days | +47.2% |
Summary: Homes in Chester had an average of 27 days on market in May 2024, up by 47.2% compared to last year.
Breakdown of Home Sale Times
47 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During May 2024, 56 homes were sold in Chester; 84% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.