The Long & Foster Market Minute

FOCUS ON: CHAMBERLAYNE HOUSING MARKET APRIL 2024

Zip Code(s): 23227
Units Sold
21
Active Inventory
17
Median Sale Price
$366,500
Days On Market
36
Up 11%
Vs. Year Ago
Down -70%
Vs. Year Ago
No Change
Vs. Year Ago
Up 44%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in April, with 21 sold this month in Chamberlayne Real Estate versus 23 last month, a decrease of 9%. This month's total units sold was higher than at this time last year, an increase of 11% versus April 2023.

Active Inventory
Versus last year, the total number of homes available this month is lower by 39 units or 70%. The total number of active inventory this April was 17 compared to 56 in April 2023. This month's supply remained stable as compared to last month.

Median Sale Price
Last April, the median sale price for Chamberlayne Homes was $367,990. This April, the median sale price was $366,500, which is similar compared to a year ago. The current median sold price is 19% lower than in March.

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


New Listings
20
Current Contracts
19
Sold Vs. List Price
104.1%
Months of Supply
0.8
Down -58%
Vs. Year Ago
Down -10%
Vs. Year Ago
No Change
Vs. Year Ago
Down -73%
Vs. Year Ago

Months of Supply
In April, there was 0.8 months of supply available in Chamberlayne, compared to 2.9 in April 2023. That is a decrease of 73% 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 20 homes newly listed for sale in Chamberlayne compared to 48 in April 2023, a decrease of 58%. There were 19 current contracts pending sale this April compared to 21 a year ago. The number of current contracts is 10% lower than last April.

Sale Price to List Price Ratio
In April, the average sale price in Chamberlayne was 104.1% of the average list price, which is similar compared to a year ago.

Days on Market
This month, the average number of days on market was 36, higher than the average last year, which was 25, an increase of 44%.

The Long & Foster Market Minute Chamberlayne are defined as properties listed in zip code/s 23227.
*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.