Is Three Chopt, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Three Chopt has remained a Seller's Market.
Key Takeaway
Three Chopt is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Three Chopt, VA
How much do homes in Three Chopt, VA cost?
Median Sold Price
$506,202
$231/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Three Chopt have sold for 7.9% more than they did a year ago.
Summary: The median home sold price in Three Chopt was $506,202 in April 2024, up 7.9% from last year, and the median price per square foot was $231.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $185K | $200K | +8.1% |
| 2 Bedrooms | $298.4K | $300K | 0.5% |
| 3 Bedrooms | $399K | $424.7K | +6.5% |
| 4 Bedrooms | $520K | $555K | +6.7% |
| 5+ Bedrooms | $744.6K | $826.7K | +11.0% |
Summary: Three Chopt housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8.1%, 2 bedroom homes increased by 0.5%, 3 bedroom homes increased by 6.5%, 4 bedroom homes increased by 6.7%, and 5+ bedroom homes increased by 11%.
Median Sold Price Compared To Nearby Cities
| South Anna | $440K | $503.8K | +14.5% |
| Tuckahoe | $421.6K | $475.2K | +12.7% |
| Brookland | $337.1K | $372.9K | +10.6% |
| Three Chopt | $469.2K | $506.2K | +7.9% |
| Glen Allen | $460K | $479.4K | +4.2% |
Housing Supply in Three Chopt, VA
How many homes are available in Three Chopt, VA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 242 | 272 | +12.4% |
Summary: The Three Chopt real estate market had 272 homes for sale in April 2024, a 12.4% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 20 | 21 | +5.0% |
| 3 Bedrooms | 84 | 86 | +2.4% |
| 4 Bedrooms | 75 | 83 | +10.7% |
| 5+ Bedrooms | 63 | 81 | +28.6% |
Summary: The Three Chopt housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 5%, 3 bedroom homes increased by 2.4%, 4 bedroom homes increased by 10.7%, and 5+ bedroom homes increased by 28.6%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 57 | 91 | +59.6% |
Asking Price vs. Sold Price
19 Homes Were Sold
Under Asking
14 Homes Were Sold
At Asking
57 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Three Chopt, you could pay more than the asking price. 63.3% of homes here sold above asking price last month.
Summary: A total of 91 homes were sold or pending in Three Chopt in April 2024, up by 59.6% month-over-month. Of the 90 sold homes, 21% were sold under asking, 16% were sold at asking, and 63% were sold over asking.
Days on Market for Three Chopt, VA
How long does it take to sell a home in Three Chopt, VA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 21 Days | 23 Days | +6.8% |
Summary: Homes in Three Chopt had an average of 23 days on market in Apr 2024, up by 6.8% compared to last year.
Breakdown of Home Sale Times
81 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Three Chopt are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 91 homes were sold in Three Chopt; 89% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.
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