Chesterfield County real estate is still alive and well with ample opportunity to buy or sell successfully before the year’s end. Homes are selling in an average of 32 days for more than the asking price. However, with inventory dropping and the winter months closing in, buyers may find themselves in a pinch to find the perfect property.
Henrico County is beginning to show signs of slowing down for the holiday season and winter. Sellers can anticipate selling their homes in around 33 days for just about 98 percent of their asking price. However, buyers are finding themselves with fewer options to choose from, and higher rates than buyers paid last year and would do well to act quickly if they see a home they’re considering purchasing.
📊 Chesterfield County Stats
Chesterfield County sold 567 residential units in September of 2017 in contrast to 622 last month. Although the month over month shows a decrease, September 2017 proved 23 percent higher sales than the same month a year earlier, indicating that the market hasn’t yet slipped into a winter slumber. There are still 1,453 active listings, a decrease of 19 percent or 377 listings from the same time last year, and down by 6 percent from last month. On the plus side, sales price increased year over year with an average sales price this year of $245,000 compared to last year’s $227,000. However, the month-over-month version isn’t as positive.
🏠 What Does This Mean for Chesterfield Buyers
Average sales price for September was five percent lower than in August. Also, down is the month’s supply of inventory, closing September with 2.6 months remaining, 34 percent less than last year’s 3.9 percent. Last year, September closed with 619 new listings on the market in contrast to this year’s 658, an increase of six percent. So, buyers looking for new inventory might want to explore the slight increase in inventory while it lasts.
💵 What Does This Mean for Chesterfield Sellers
On the upside, 478 current contracts were under way at September’s end this year compared to last year’s 619. The list to sales price has remained consistent at 102 percent, excellent news for sellers. Last year, homes stayed on the market for an average of 38 days; this year, houses are selling faster in just 32 days on the market. For sellers, this is the prime time to put a home on the market if you’re hoping for a faster sale than usual.
📈 Henrico County Stats
Henrico County sold 393 residential units in September 2017, in contrast to 518 units sold in August, and down from last year by 2 percent. Inventory is also down. Last year at this time, there were 1208 active listings in comparison to this year’s 898, a difference of 310 units sold in 2016 as opposed to 2017. The median sales price is also down from the previous month by four percent, but up five percent from last year. The median sales price for September 2017 came in at $230,000 up 5 percent to last year’s $219,975.
🏡 What Does This Mean for Henrico Buyers
Inventory is dropping, also. This September, the month closed with 2.3 month supply of houses, down 24 percent from 2016. Last year, September closed with 483 listings. This year, that number is up 26 percent with 609 new listings. Even though we are showing an increase from one year to the next, buyers should still grab a hold to the home they want before someone else sets their sights on the same one!
💰 What Does This Mean for Henrico Sellers
Last year, September ended with 356 contracts underway as opposed to this year’s 494 contracts, a positive change of 39 percent this year over last. This year, homes took an average of 33 days to close, a week faster than last year’s 40 days to close. Sellers have consistently earned 98.9 percent of their asking price from last year to this year. There’s no doubt about it, buyers are still out there buying homes despite the lower inventory. This is a good time for homes to hit the market if you’re looking for a quicker than average selling period.
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