Is Chancellor, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Chancellor was a Buyer's Market.
Housing Prices in Chancellor, VA
How much do homes in Chancellor, VA cost?
Median Sold Price
$443,333
$198/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Chancellor was $443,333 in March 2024, up 1.9% from last year, and the median price per square foot was $198.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $484.7K | $340K | -29.9% |
3 Bedrooms | $385K | $395K | +2.6% |
4 Bedrooms | $450K | $454K | +0.9% |
5+ Bedrooms | $735K | $657K | -10.6% |
Summary: Chancellor housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 29.9%, 3 bedroom homes increased by 2.6%, 4 bedroom homes increased by 0.9%, and 5+ bedroom homes decreased by 10.6%.
Median Sold Price Compared To Nearby Cities
Salem | $315K | $355K | +12.7% |
Locust Grove | $369K | $410K | +11.1% |
Courtland | $375K | $405K | +8.0% |
Chancellor | $435K | $443.3K | +1.9% |
Housing Supply in Chancellor, VA
How many homes are available in Chancellor, VA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
105 | 115 | +9.5% |
Summary: The Chancellor real estate market had 115 homes for sale in March 2024, a 9.5% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 2 | 2 | 0.0% |
3 Bedrooms | 35 | 39 | +11.4% |
4 Bedrooms | 47 | 51 | +8.5% |
5+ Bedrooms | 21 | 23 | +9.5% |
Summary: The Chancellor 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 remained the same, 3 bedroom homes increased by 11.4%, 4 bedroom homes increased by 8.5%, and 5+ bedroom homes increased by 9.5%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
19 | 28 | +47.4% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Summary: A total of 28 homes were sold or pending in Chancellor in March 2024, up by 47.4% month-over-month. Of the 28 sold homes, 25% were sold under asking, 32% were sold at asking, and 43% were sold over asking.
Days on Market for Chancellor, VA
How long does it take to sell a home in Chancellor, VA?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
8 Days | 25 Days | +211.6% |
Summary: Homes in Chancellor had an average of 25 days on market in Mar 2024, up by 211.6% compared to last year.
Breakdown of Home Sale Times
20 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During March 2024, 28 homes were sold in Chancellor; 71% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.