The Long & Foster Market Minute

Focus On: Chesterfield County Housing Market March 2021

Units Sold
615
Active Inventory
427
Median Sale Price
$325,000
Days On Market
20
Up 13%
Vs. Year Ago
Down -69%
Vs. Year Ago
Up 18%
Vs. Year Ago
Down -46%
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 615 sold this month in Chesterfield County Real Estate versus 456 last month, an increase of 35%. This month's total units sold was higher than at this time last year, an increase of 13% versus March 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 939 units or 69%. The total number of active inventory this March was 427 compared to 1,366 in March 2020. This month's total of 427 is lower than the previous month's total supply of available inventory of 486, a decrease of 12%.

Median Sale Price
Last March, the median sale price for Chesterfield County Homes was $275,650. This March, the median sale price was $325,000, an increase of 18% or $49,350 compared to last year. The current median sold price is 2% higher than in February.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.


New Listings
739
Current Contracts
719
Sold Vs. List Price
103.0%
Months of Supply
0.7
Down -16%
Vs. Year Ago
Up 9%
Vs. Year Ago
Up 2.9%
Vs. Year Ago
Down -73%
Vs. Year Ago

Months of Supply
In March, there was 0.7 months of supply available in Chesterfield County, compared to 2.5 in March 2020. That is a decrease of 72% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

New Listings & Current Contracts
This month there were 739 homes newly listed for sale in Chesterfield County compared to 876 in March 2020, a decrease of 16%. There were 719 current contracts pending sale this March compared to 658 a year ago. The number of current contracts is 9% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in Chesterfield County was 103.0% of the average list price, which is 2.9% higher than at this time last year.

Days on Market
This month, the average number of days on market was 20, lower than the average last year, which was 37, a decrease of 46%.

The Long & Foster Market Minute
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by CVRMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of CVRMLS or Long & Foster Real Estate, Inc.