🏠 Chesterfield & Henrico Counties Market Report – June 2020

Welcome to the June 2020 real estate market report for Chesterfield and Henrico County, Virginia. Are you curious to know how the housing market has performed against the backdrop of the Covid-19 restrictions? Read this report to find out.

Are you planning to buy a home soon? You can search for properties using our free search tool, find properties by price, size, or location.  Make sure to save your searches and sign up to be notified as soon as matching properties become available.

If you are wanting to sell your home you first need to find out what it might be worth. Sellers can use our free home valuation tool to get an idea of their home’s worth. It is simple, answer a few questions about your home and we will provide you with an estimate of its market value!

In Chesterfield County, the average sales price for homes ended the month of June at $315,688, up from $309,704 the previous June.

There were a total of 704 sales closed, up 28.2% from the previous month, but down 5.6% from one year ago.

There were 814 new pending sales, up 4.6 from last month, and up 14.8% from the previous June.

A total of 765 new listings to hit the market during June 2020, up 9.1% compared to May, but down 5.7% from one year ago.

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A total of 616 detached homes sold in Chesterfield County during June 2020, selling for an average of $324,616, which up, 2.82% from $315,728 one year ago.

There were only 10 two-bedroom or less detached homes sold last month, up from eight the previous June. Two-bedroom or less homes sold for an average price of $164,942, up 10.84% from $148,813 one year ago.

There were 207 three-bedroom homes sold during June, a decrease from 251 one year ago. The average sale price for three-bedroom homes was $248,216, an increase of 8.94% from $227,846 during June 2019.

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The average sale price for attached single-family homes in Chesterfield County ended the month at $253,190, a year to year decrease of 1.62% from $257,366.

A total of 88 attached units were sold, an increase of 14.29% from the previous June number of 77.

There were 11 two-bedroom or less attached units sold during June, unchanged compared to one year ago. Two-bedroom or less homes sold for an average of $224,917, an increase of 17.86% from $190,835 the previous June.

There were only five four-bedroom or more attached homes sold during June in Chesterfield County, an increase from three the previous June. Four-bedroom or more homes sold for an average of $257,839, down 17.14% from $311,174 one year ago.

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In Chesterfield County, during June only 19 condos were sold, down from 23 one year ago. Condos sold for an average of $278,210, up from $272,987 the previous June.

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The average sale price for homes in Henrico County ended June 2020 at $316,009, up 0.47% from $314,523 one year ago.

There were a total of 491 homes sold during June in Henrico County, up 16.4% from last month, but down year to year by 10.4% from 548.

There were 577 new pending sales, up 8.5% from 532 compared to the previous month, and up 6.1% from 544 one year ago.

A total of 516 new listings hit the market during June, an increase of 14.9% from May, but down 9.2% compared to one year ago.

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Detached homes in Henrico County sold for an average price of $329,987, down slightly from the previous June average of $328,689. A total of 397 detached units sold last month, a drop from 431 sold the previous June.

A total of 20 two-bedroom or less homes sold last month, up from the 13 sold during this period one year ago. Two-bedroom or less homes somd for an average of $186,775, up 19% from $155,777 the previous June.

There were 168 three-bedroom detached homes last month, down from 175 one year ago. The average sales price for three-bedroom homes was $243,407 during June, up 10.71% from the $219,855 average one year ago.

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In Henrico County during June attached homes sold for an average price of $256,975, down 2.05% from $262,340 the previous year.

A total of 94 attached units sold during June 2020, a decline of 19.66% from 117 sold during the previous June.

There were 11 two-bedroom or fewer homes sold in Henrico during June, an increase from 8 sold during the previous June. The average sale price of two-bedroom or less homes was $215,322, an increase of 5.2% from $204,031 one year ago.

There were only two, four-bedroom or more homes sold during June in Henrico County, a decrease from 12 sold the previous June. Four-bedroom or more homes sold for an average of $347,750, down 19.48% from $431,906 one year ago.

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There were 43 condos sold last month, a drop from the 50 sold the previous June. Condos sold for an average of $254,385, an increase of 18.2% from the average sale price of $215,214 during the previous June.

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For buyers in Chesterfield and Henrico Counties prices have increased month to month, shrinking inventory and fierce bidding create more competition, and buyers need to be prepared to act when the perfect home is found.

The future is uncertain, if restrictions due to the Covid-19 situation tighten, buyers should expect less inventory as sellers wait, and prices climb.

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For sellers in Chesterfield and Henrico Counties, the next couple of months will be a prime opportunity to list and sell your home as competition picks up, and buyers bid prices up.

Sold to list prices have increased month to month, and in certain markets, sellers can expect their home to be bought quickly as buyer demand increases.

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See Additional Reports on the Chesterfield and Henrico Counties Market Report