Is Chatham County, NC a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Chatham County is a buyer's market

Buyer's
Market

Difference Since February 2023

Since last year, Chatham County has remained a Buyer's Market.

Key Takeaway

Chatham County is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Chatham County, NC

How much do homes in Chatham County, NC cost?

Median Sold Price

$535,488

$234/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$15,315(+2.9%)

Key Takeaway

Homes in Chatham County have sold for 2.9% more than they did a year ago.

Summary: The median home sold price in Chatham County was $535,488 in February 2024, up 2.9% from last year, and the median price per square foot was $234.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $367K$322.2K
-12.2%
2 $287K$340K
+18.5%
3 $442K$448.9K
+1.6%
4 $750K$800K
+6.7%
5+ $720K$780K
+8.3%

Summary: Chatham County housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 12.2%, 2 bedroom homes increased by 18.5%, 3 bedroom homes increased by 1.6%, 4 bedroom homes increased by 6.7%, and 5+ bedroom homes increased by 8.3%.

Median Sold Price Compared To Nearby Counties

Orange County
+5.8%
Moore County
+4.8%
Lee County
+4.3%
Chatham County
+2.9%
Alamance County
+0.9%

Housing Supply in Chatham County, NC

How many homes are available in Chatham County, NC?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
213221+3.8%

Summary: The Chatham County real estate market had 221 homes for sale in February 2024, a 3.8% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 33
0.0%
2 1211
-8.3%
3 8691
+5.8%
4 9698
+2.1%
5+ 1618
+12.5%

Summary: The Chatham County housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 8.3%, 3 bedroom homes increased by 5.8%, 4 bedroom homes increased by 2.1%, and 5+ bedroom homes increased by 12.5%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
3130-3.2%

Asking Price vs. Sold Price

16 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

9 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Chatham County, you may be able to get a good deal. 53.3% of homes here sold below asking price last month.

Summary: A total of 30 homes were sold or pending in Chatham County in February 2024, down by 3.2% month-over-month. Of the 30 sold homes, 53% were sold under asking, 17% were sold at asking, and 30% were sold over asking.

Days on Market for Chatham County, NC

How long does it take to sell a home in Chatham County, NC?

Average Sale Time

Feb 2023Feb 2024CHANGE
109 Days163 Days+48.9%

Summary: Homes in Chatham County had an average of 163 days on market in Feb 2024, up by 48.9% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

13 Homes Were Sold
In 30 - 90 Days

15 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Most homes in Chatham County are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During February 2024, 30 homes were sold in Chatham County; 7% of homes were sold within 30 days, 43% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 28 Days Ago

Newest Listings in Chatham County, NC

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