Is Chancellor, 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, Chancellor has remained a Seller's Market.
Housing Prices in Chancellor, VA
How much do homes in Chancellor, VA cost?
Median Sold Price
$439,950
$200/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Chancellor was $439,950 in April 2024, up 1.7% from last year, and the median price per square foot was $200.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $484.7K | $317.5K | -34.5% |
3 Bedrooms | $385K | $395K | +2.6% |
4 Bedrooms | $469.9K | $452K | -3.8% |
5+ Bedrooms | $699.9K | $670K | -4.3% |
Summary: Chancellor housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 34.5%, 3 bedroom homes increased by 2.6%, 4 bedroom homes decreased by 3.8%, and 5+ bedroom homes decreased by 4.3%.
Median Sold Price Compared To Nearby Cities
Salem | $310.9K | $359.8K | +15.7% |
Courtland | $375K | $412K | +9.9% |
Locust Grove | $379.9K | $410K | +7.9% |
Chancellor | $432.5K | $439.9K | +1.7% |
Housing Supply in Chancellor, VA
How many homes are available in Chancellor, VA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
95 | 103 | +8.4% |
Summary: The Chancellor real estate market had 103 homes for sale in April 2024, a 8.4% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 2 | 1 | -50.0% |
3 Bedrooms | 32 | 29 | -9.4% |
4 Bedrooms | 47 | 50 | +6.4% |
5+ Bedrooms | 14 | 23 | +64.3% |
Summary: The Chancellor housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 50%, 3 bedroom homes decreased by 9.4%, 4 bedroom homes increased by 6.4%, and 5+ bedroom homes increased by 64.3%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
31 | 24 | -22.6% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Summary: A total of 24 homes were sold or pending in Chancellor in April 2024, down by 22.6% month-over-month. Of the 24 sold homes, 42% were sold under asking, 21% were sold at asking, and 38% 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
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
21 Days | 27 Days | +24.0% |
Summary: Homes in Chancellor had an average of 27 days on market in Apr 2024, up by 24% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During April 2024, 24 homes were sold in Chancellor; 67% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.