Is Chatham County, NC 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, Chatham County was a Seller's Market.
Key Takeaway
Chatham County is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Chatham County, NC
How much do homes in Chatham County, NC cost?
Median Sold Price
$531,666
$235/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Chatham County have sold for 1.7% more than they did a year ago.
Summary: The median home sold price in Chatham County was $531,666 in March 2024, up 1.7% from last year, and the median price per square foot was $235.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $302K | $308.6K | +2.2% |
| 2 Bedrooms | $287K | $340K | +18.5% |
| 3 Bedrooms | $445.2K | $442.5K | -0.6% |
| 4 Bedrooms | $749.9K | $807.5K | +7.7% |
| 5+ Bedrooms | $719.4K | $796.9K | +10.8% |
Summary: Chatham County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.2%, 2 bedroom homes increased by 18.5%, 3 bedroom homes decreased by 0.6%, 4 bedroom homes increased by 7.7%, and 5+ bedroom homes increased by 10.8%.
Median Sold Price Compared To Nearby Counties
| Orange County | $555.3K | $606.8K | +9.3% |
| Moore County | $420.1K | $444.9K | +5.9% |
| Lee County | $298.9K | $312.5K | +4.5% |
| Chatham County | $523K | $531.6K | +1.7% |
| Alamance County | $314.6K | $314.9K | 0.1% |
Housing Supply in Chatham County, NC
How many homes are available in Chatham County, NC?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 236 | 239 | +1.3% |
Summary: The Chatham County real estate market had 239 homes for sale in March 2024, a 1.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 3 | 0.0% |
| 2 Bedrooms | 13 | 17 | +30.8% |
| 3 Bedrooms | 98 | 96 | -2.0% |
| 4 Bedrooms | 104 | 98 | -5.8% |
| 5+ Bedrooms | 18 | 25 | +38.9% |
Summary: The Chatham 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 increased by 30.8%, 3 bedroom homes decreased by 2%, 4 bedroom homes decreased by 5.8%, and 5+ bedroom homes increased by 38.9%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 34 | 32 | -5.9% |
Asking Price vs. Sold Price
14 Homes Were Sold
Under Asking
12 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Chatham County, you may be able to get a good deal. 43.8% of homes here sold below asking price last month.
Summary: A total of 32 homes were sold or pending in Chatham County in March 2024, down by 5.9% month-over-month. Of the 32 sold homes, 44% were sold under asking, 38% were sold at asking, and 19% were sold over asking.
Days on Market for Chatham County, NC
How long does it take to sell a home in Chatham County, NC?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 162 Days | 137 Days | -15.8% |
Summary: Homes in Chatham County had an average of 137 days on market in Mar 2024, down by 15.8% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
13 Homes Were Sold
In 30 - 90 Days
15 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Chatham County are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During March 2024, 32 homes were sold in Chatham County; 13% of homes were sold within 30 days, 41% of homes were sold within 30 to 90 days, and 47% of homes were sold over 90 days.
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