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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Chowan County is a buyer's market

Buyer's
Market

Difference Since September 2023

At the same time last year, Chowan County was a Neutral Market.

Key Takeaway

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

Housing Prices in Chowan County, NC

How much do homes in Chowan County, NC cost?

Median Sold Price

$277,500

$175/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$21,000(+8.2%)

Key Takeaway

Homes in Chowan County have sold for 8.2% more than they did a year ago.

Summary: The median home sold price in Chowan County was $277,500 in September 2024, up 8.2% from last year, and the median price per square foot was $175.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 $279K$240K
-14.0%
2 $154.7K$180K
+16.3%
3 $268K$295K
+10.1%
4 $268K$390K
+45.5%
5+ $510K$265.5K
-47.9%

Summary: Chowan County housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 14%, 2 bedroom homes increased by 16.3%, 3 bedroom homes increased by 10.1%, 4 bedroom homes increased by 45.5%, and 5+ bedroom homes decreased by 47.9%.

Median Sold Price Compared To Nearby Counties

Perquimans County
+10.1%
Chowan County
+8.2%
Gates County
+2.9%

Housing Supply in Chowan County, NC

How many homes are available in Chowan County, NC?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
88100+13.6%

Summary: The Chowan County real estate market had 100 homes for sale in September 2024, a 13.6% increase compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 10
-100.0%
2 1521
+40.0%
3 5357
+7.5%
4 1416
+14.3%
5+ 56
+20.0%

Summary: The Chowan County housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 40%, 3 bedroom homes increased by 7.5%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes increased by 20%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
1314+7.7%

Asking Price vs. Sold Price

10 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Chowan County, you may be able to get a good deal. 76.9% of homes here sold below asking price last month.

Summary: A total of 14 homes were sold or pending in Chowan County in September 2024, up by 7.7% month-over-month. Of the 13 sold homes, 77% were sold under asking, 0% were sold at asking, and 23% were sold over asking.

Days on Market for Chowan County, NC

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

Average Sale Time

Sep 2023Sep 2024CHANGE
81 Days114 Days+40.7%

Summary: Homes in Chowan County had an average of 114 days on market in Sep 2024, up by 40.7% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

7 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During September 2024, 14 homes were sold in Chowan County; 14% of homes were sold within 30 days, 36% 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 30 Days Ago

Newest Listings in Chowan County, NC

Nearby Markets to Chowan County, NC

What housing markets are near Chowan County, NC?