Is Chatham, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Chatham has remained a Seller's Market.
Key Takeaway
Chatham is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Chatham, VA
How much do homes in Chatham, VA cost?
Median Sold Price
$130,000
$126/sqft
Based on all homes sold in March 2024.
Difference Since Last Month
Key Takeaway
Homes in Chatham have sold for 50.5% less than they did a month ago.
Summary: The median home sold price in Chatham was $130,000 in March 2024, down 50.5% from last month, and the median price per square foot was $126.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $210K | - | N/A |
| 3 Bedrooms | $315K | $130K | -58.7% |
| 4 Bedrooms | - | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Chatham 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 did not change, 3 bedroom homes decreased by 58.7%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Chatham | $262.5K | $130K | -50.5% |
| Banister | $497.2K | $139.9K | -71.9% |
Housing Supply in Chatham, VA
How many homes are available in Chatham, VA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 3 | 6 | +100.0% |
Summary: The Chatham real estate market had 6 homes for sale in March 2024, a 100.0% 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 | 1 | 1 | 0.0% |
| 3 Bedrooms | 2 | 5 | +150.0% |
| 4 Bedrooms | 0 | 0 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Chatham 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 150%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 2 | 3 | +50.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Chatham, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 3 homes were sold or pending in Chatham in March 2024, up by 50.0% month-over-month. Of the 3 sold homes, 0% were sold under asking, 33% were sold at asking, and 67% were sold over asking.
Days on Market for Chatham, VA
How long does it take to sell a home in Chatham, VA?
Average Sale Time
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 12 Days | 16 Days | +36.1% |
Summary: Homes in Chatham had an average of 16 days on market in Mar 2024, up by 36.1% compared to last month.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Chatham are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 3 homes were sold in Chatham; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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Although the Multiple Listing Service of The Roanoke Valley is the single source for these listings, listing data appearing on this web site does not necessarily reflect the entirety of all available listings within the Multiple Listing Service. All listing data is refreshed regularly, but its accuracy is subject to market changes.