Is Chester, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Chester has remained a Seller's Market.
Key Takeaway
Chester is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Chester, VA
How much do homes in Chester, VA cost?
Median Sold Price
$360,000
$181/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Chester have sold for 2.6% more than they did a year ago.
Summary: The median home sold price in Chester was $360,000 in March 2024, up 2.6% from last year, and the median price per square foot was $181.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $310K | $332K | +7.1% |
| 3 Bedrooms | $303.6K | $327.4K | +7.9% |
| 4 Bedrooms | $375K | $390K | +4.0% |
| 5+ Bedrooms | $491.2K | $457.5K | -6.9% |
Summary: Chester 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 increased by 7.1%, 3 bedroom homes increased by 7.9%, 4 bedroom homes increased by 4%, and 5+ bedroom homes decreased by 6.9%.
Median Sold Price Compared To Nearby Cities
| Hopewell | $193.5K | $224.9K | +16.3% |
| Colonial Heights | $250K | $276.2K | +10.5% |
| Dale | $319.7K | $336.2K | +5.1% |
| Bermuda | $339.9K | $350K | +3.0% |
| Chester | $351K | $360K | +2.6% |
Housing Supply in Chester, VA
How many homes are available in Chester, VA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 194 | 188 | -3.1% |
Summary: The Chester real estate market had 188 homes for sale in March 2024, a 3.1% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 4 | 5 | +25.0% |
| 3 Bedrooms | 75 | 72 | -4.0% |
| 4 Bedrooms | 77 | 70 | -9.1% |
| 5+ Bedrooms | 38 | 40 | +5.3% |
Summary: The Chester housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 25%, 3 bedroom homes decreased by 4%, 4 bedroom homes decreased by 9.1%, and 5+ bedroom homes increased by 5.3%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 45 | 52 | +15.6% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
18 Homes Were Sold
At Asking
21 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Chester, you could pay more than the asking price. 40.4% of homes here sold above asking price last month.
Summary: A total of 52 homes were sold or pending in Chester in March 2024, up by 15.6% month-over-month. Of the 52 sold homes, 25% were sold under asking, 35% were sold at asking, and 40% were sold over asking.
Days on Market for Chester, VA
How long does it take to sell a home in Chester, VA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 29 Days | 27 Days | -7.4% |
Summary: Homes in Chester had an average of 27 days on market in Mar 2024, down by 7.4% compared to last year.
Breakdown of Home Sale Times
37 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Chester are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 52 homes were sold in Chester; 71% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
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