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 Last Month

Last month, 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

$259,500

$153/sqft

Based on all homes sold in March 2024.

Difference Since Last Month

+$73,000(+39.1%)

Key Takeaway

Homes in Chowan County have sold for 39.1% more than they did a month ago.

Summary: The median home sold price in Chowan County was $259,500 in March 2024, up 39.1% from last month, and the median price per square foot was $153.

Median Sold Price By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 --
N/A
2 $117.5K$204.5K
+74.0%
3 $200.5K$291.2K
+45.3%
4 $285.1K$264.7K
-7.1%
5+ --
N/A

Summary: Chowan County housing prices by bedroom type for March 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 74%, 3 bedroom homes increased by 45.3%, 4 bedroom homes decreased by 7.1%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Counties

Chowan County
+39.1%
Perquimans County
+13.0%

Housing Supply in Chowan County, NC

How many homes are available in Chowan County, NC?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
89107+20.2%

Summary: The Chowan County real estate market had 107 homes for sale in March 2024, a 20.2% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 22
0.0%
2 1413
-7.1%
3 5768
+19.3%
4 1318
+38.5%
5+ 36
+100.0%

Summary: The Chowan County housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 7.1%, 3 bedroom homes increased by 19.3%, 4 bedroom homes increased by 38.5%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
1312-7.7%

Asking Price vs. Sold Price

10 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

0 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. 83.3% of homes here sold below asking price last month.

Summary: A total of 12 homes were sold or pending in Chowan County in March 2024, down by 7.7% month-over-month. Of the 12 sold homes, 83% were sold under asking, 17% were sold at asking, and 0% 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

Feb 2024Mar 2024CHANGE
25 Days38 Days+52.2%

Summary: Homes in Chowan County had an average of 38 days on market in Mar 2024, up by 52.2% compared to last month.

Breakdown of Home Sale Times

6 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Chowan County are selling fast, if you're buying plan to act quickly.

Summary: During March 2024, 12 homes were sold in Chowan County; 50% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 17% 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 23 Days Ago

Newest Listings in Chowan County, NC

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