Is Chancellor, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 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
$440,000
$201/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Chancellor was $440,000 in May 2024, up 1.1% from last year, and the median price per square foot was $201.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $484.7K | $317.5K | -34.5% |
3 Bedrooms | $387.5K | $399K | +3.0% |
4 Bedrooms | $455K | $452K | -0.7% |
5+ Bedrooms | $650K | $685K | +5.4% |
Summary: Chancellor housing prices by bedroom type for May 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 3%, 4 bedroom homes decreased by 0.7%, and 5+ bedroom homes increased by 5.4%.
Median Sold Price Compared To Nearby Cities
Salem | $310K | $364.3K | +17.5% |
Courtland | $385K | $420K | +9.1% |
Locust Grove | $388K | $410K | +5.7% |
Chancellor | $435K | $440K | +1.1% |
Housing Supply in Chancellor, VA
How many homes are available in Chancellor, VA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
109 | 108 | -0.9% |
Summary: The Chancellor real estate market had 108 homes for sale in May 2024, a 0.9% decrease compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 1 | 0 | -100.0% |
3 Bedrooms | 31 | 30 | -3.2% |
4 Bedrooms | 53 | 49 | -7.5% |
5+ Bedrooms | 24 | 29 | +20.8% |
Summary: The Chancellor housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 100%, 3 bedroom homes decreased by 3.2%, 4 bedroom homes decreased by 7.5%, and 5+ bedroom homes increased by 20.8%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
26 | 34 | +30.8% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
23 Homes Were Sold
Over Asking
Summary: A total of 34 homes were sold or pending in Chancellor in May 2024, up by 30.8% month-over-month. Of the 34 sold homes, 21% were sold under asking, 12% were sold at asking, and 68% 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
May 2023 | May 2024 | CHANGE |
---|---|---|
21 Days | 27 Days | +25.4% |
Summary: Homes in Chancellor had an average of 27 days on market in May 2024, up by 25.4% compared to last year.
Breakdown of Home Sale Times
26 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During May 2024, 34 homes were sold in Chancellor; 76% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.