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| Focus On: Chesterfield County Housing Market | October 2023 | ||
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| Units Sold 376 |
Active Inventory 777 |
Median Sale Price $390,000 |
Days On Market 16 |
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| Down -25% Vs. Year Ago |
Up 9% Vs. Year Ago |
Up 4% Vs. Year Ago |
Down -6% Vs. Year Ago |
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Units Sold
There was a decrease in total units sold in October, with 376 sold this month in Chesterfield County Real Estate versus 448 last month, a decrease of 16%. This month's total units sold was lower than at this time last year, a decrease of 25% versus October 2022. |
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Active Inventory
Versus last year, the total number of homes available this month is higher by 61 units or 9%. The total number of active inventory this October was 777 compared to 716 in October 2022. This month's total of 777 is lower than the previous month's total supply of available inventory of 782, a decrease of 1%. |
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Median Sale Price
Last October, the median sale price for Chesterfield County Homes was $374,900. This October, the median sale price was approximately the same at $390,000. The current median sold price is 4% higher than in October 2022. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median. |
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| New Listings 481 |
Current Contracts 387 |
Sold Vs. List Price 101.6% |
Months of Supply 2.1 |
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| Down -1% Vs. Year Ago |
Down -2% Vs. Year Ago |
No Change Vs. Year Ago |
Up 46% Vs. Year Ago |
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Months of Supply
In October, there was 2.1 months of supply available in Chesterfield County, compared to 1.4 in October 2022. That is an increase of 45% 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. |
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New Listings & Current Contracts
This month there were 481 homes newly listed for sale in Chesterfield County compared to 486 in October 2022, a decrease of 1%. There were 387 current contracts pending sale this October compared to 396 a year ago. The number of current contracts is 2% lower than last October. |
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Sale Price to List Price Ratio
In October, the average sale price in Chesterfield County was 101.6% 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 16, lower than the average last year, which was 17, a decrease of 6%. | |||
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| *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. | |||
 Information 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. |
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