Reports for May 2018 on the Chesterfield and Henrico Counties’ real estate market are bringing in impressive statistics for sellers. As we move toward warmer months, there’s no doubt that things are getting hotter when it comes to the current inventory in these two counties. Sellers are seeing buyers who are willing to put down the money needed to get the home of there dreams in record time. If this continues, we may see even more action from buyers as inventory shrinks.
- 📊 Chesterfield County Stats
- 💵 What does this mean for Chesterfield County buyers?
- 💰 What does this mean for Chesterfield County sellers?
- 📈 Henrico County Stats
- 💲 What does this mean for Henrico County buyers?
- 💰 What does this mean for Henrico County sellers?
- 🏡 Chesterfield County Homes for Sale
- 🏘 Henrico County Homes for Sale
📊 Chesterfield County Stats
Let’s look at some of the more prominent statistics from the Chesterfield County real estate market. There were 528 homes sold during the month of April. This number is up 3 percent from this time last year, but it shows a slight drop from the 522 homes sold in March.
Chesterfield County’s median sale price for April was $251,250, which is an increase of 7 percent from the median sale price of $235,000 in April of 2017. Active inventory as we ended the month of April was at 1,173. This number shows a decrease of 15 percent from the 1,372 seen in April of 2017.
💵 What does this mean for Chesterfield County buyers?
Currently, the average number of days on market for a home in Chesterfield County has decreased to 37 days. This marks a 3 percent increase since last year. We ended April with a 2.2 months supply of real estate inventory. This is down from the 2.7 months supply recorded in April of 2017. The market is considered balanced with a 6 months supply.
So, what’s the best way to ensure that you’re in the best place to purchase a home? We suggest that you create a search that notes exactly what you’re looking for in a home. You’ll receive notices that let you know it’s time to take a closer look when new listings are posted. This knowledge could prove to be an advantage you need over other buyers in this area.
💰 What does this mean for Chesterfield County sellers?
Chesterfield County market trends are showing that sellers are typically receiving 99.5 percent of their listing price. This is consistent with the amount recorded this time last year, but it does show a slight drop from last month. If you’re thinking it’s time to sell your Chesterfield County Home, take a look at how much your home is worth. This will give you a general idea of your home’s value as you begin considering the listing price. Give us a call to get a comprehensive report that considers other factors such as market trends, other homes being sold in the area, and any upgrades made to your property.
📈 Henrico County Stats
Let’s analyze some of the statistics and market trends for this month in Henrico County. There were 438 properties sold in the month of April. That’s an impressive increase from the 371 sold in March. In fact, the number of homes sold has increased for each of the last three months. When compared to last year’s numbers, we see an increase of 17 percent.
Henrico County’s median sale price for April was $261,675, which is an increase of 12 percent from the median sale price of $232,750 in April of 2017. Active inventory as we ended the month of April was at 697. This number shows a decrease of 21 percent from the 884 seen in April of 2017.
💲 What does this mean for Henrico County buyers?
There is currently a 1.6 months supply of real estate inventory. This number is down 26 percent from the 2.2 months supply we recorded this time last year. There were 605 new listings in April, which is a decrease of 7 percent from last year’s 649. It’s a good idea to sign up for access to the latest homes to hit the market. You’ll get e-mail updates each time a new listing hits the market, which places you at the starting line in the race for the perfect home.
💰 What does this mean for Henrico County sellers?
Henrico County trends are showing that sellers are receiving an incredible 100.1 percent of their listing price. That percentage is 0.6 percent higher this year than in April of 2017. The average number of days a home is on the market is averaging 23. That’s a decrease of 36 percent from the 36 days recorded last year at this time. If you’re thinking of putting your home on the market, you’ll want to contact an amazing real estate agent to help create a successful marketing plan. If you’ve been thinking about selling your home, now is the time to make that move. Sellers are bringing in more than their listing price in record time.
Wondering what your home might be worth? Find out instantly with our 15-second home value calculator.