Welcome to this month’s ChesterfieldΒ andΒ Henrico Counties real estate market report. We hope you find this market report helpful, and if you have any questions about real estate give us a call today!

While times are uncertain, people are still buying and selling real estate. Make sure to check out our informative article about buying or selling a home during the Coronavid-19 pandemic.

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πŸ“Š Chesterfield County Housing Stats

At the end of March 2020, the median (removing the highest & lowest numbers) sale price for homes in Chesterfield County was $274,385, an increase of 7.2% from $256,000 at the end of February.

March was a busy month for buyers and sellers as numbers in all areas were up when compared to the previous month. The number of closed sales increased month to month from 388 to 541.

Total number of new pending sales increased 16.6% from 638 to 744. Listing activity increased as well, up from 506 to 845 at the end the month.

Homes stayed on the market for an average of 36 days during March before being sold, a decrease from 42 the previous month.

Sellers were getting approximately 99.4% of the original list price, an increase from the February average of 98.8%.

🏘 Chesterfield Detached Housing Statistics

In Chesterfield County during the month of March, there were 482 detached units sold, an increase of 5.24% from 458 the previous March. The average sale price for detached units also increased from one year ago, up from $287,566 to $313,836.

There were only a total of 12 two-bedroom or less detached homes sold during March in Chesterfield County. Two-bedroom detached units sold for an average of $172,723, an increase of 4.69% from $164,983 one year ago.

A total of 183 three-bedroom detached homes sold last month, an increase from 169 this time last year. The average sale price for three-bedroom detached homes at the end of March 2020 was $233,768, an increase of 9.32% from $213,833 one year ago.

The four-bedroom or larger detached home sales dominated the market last month with a total of 287 transactions. Four-bedroom or larger detached homes sold for an average of $370,791, up 10.95% from $334,197 one year ago.

🏘 Chesterfield Attached Housing Statistics

At the end of March, the average sale price for attached homes in Chesterfield County was $252,221, down slightly from $254,425 one year ago.

There were 59 attached units sold during March 2020, a decrease from 70 at this time last year.

A total of six, two-bedroom or less attached homes sold for an average sale price of $166,408, which is a year-over-year decrease of 16.0% from $198,819.

The highest number of attached units sold were three-bedroom, a total of 33 sold for an average price of $249,564, down slightly from $250,369 one year ago.

There were only three, four-bedroom or larger attached homes sold in March for an average price of $275,688, up from $274,492 the previous March.

 

Chesterfield County Condo Stats

There were 17 condo/co-op sales in Chesterfield County during March 2020, a decrease from 21 one year ago. Condo/co-op average sale price also increased from this time last year, up from $280,081 to $283,525

πŸ“Š Henrico County Housing Stats

At the end of March 2020, the median (removing the highest & lowest numbers) sale price for homes in Henrico County was $275,000, up 10% from $249,950 at the end February.

Real estate activity in Henrico County increased from February to March. There was an increase in total number of closed sales, up 23.1%, from 316 to 389.

Pending sales increased month to month, up 8.5%, from 470 to 510, and new listing activity surged 44.7%, from 385 to 557.

As buying activity picked up the average number of days a home stayed on the market before being sold dropped from 41 in February to 35 in March.

Sellers were getting 99.3% of the original list price, only slightly higher than the last month’s average of 98.4%.

🏘 Henrico County Detached Homes Statistics

Detached home sales made up the majority of sales during March in Henrico County. There was a total of 300 detached units sold, up from 283 one year ago.

There were 13 two-bedroom or less detached homes sold last month, a slight decrease from 16 compared to this time last year.

Two-bedroom or less detached homes sold for an average of $172,935, up 17.40% from the average of $147,306 the previous March.

A total of 140 three-bedroom detached homes sold during March 2020, up from 110 sold at this same time last year. Three-bedroom detached homes sold for an average of $246,383, a rise of 9.15% from $225,727 one year ago.

There were 147 four-bedroom or more detached homes sold last month, down year to year from 157. Four-bedroom detached homes sold for an average of $407,251, an increase from $393,022 compared to this time last year.

🏘 Henrico County Attached Home Statistics

At the end of March, attached homes in Henrico County sold for an average of $279,925, a decrease from $287,618 one year ago. Activity for attached homes slowed compared to this time last year, there were 89 attached units sold, down from 101 the previous March.

Of the 89 attached units sold, 12 were two-bedroom or less, selling for an average price of $205,336, a decrease of 4.37% from $214,722 one year ago.

There were a total of 39 three-bedroom attached homes sold during March of this year. Three-bedroom attached sales averaged $312,862, up 8.28% from $288,926 one year ago.

March ended with nine four-bedroom or larger attached homes selling for an average price of $361,620, down significantly from the $559,180 average the previous March.

 

Henrico County Condo Stats

There were 29 condo/co-op sales during the month of March; condo/co-ops average selling price was $241,139, down 2.70% from $247,834 one year ago.

πŸ—ž What Does This Mean For Buyers in Chesterfield and Henrico Counties?

For buyers, times are uncertain, with the current health crisis happening across the country buyers may have to exercise patience going forward with their real estate purchase. Please be sure to read our helpful article about buying a house during the Corona Virus pandemic.

Give us a call today and we can answer all your questions. We put our experience to work for you!

 

πŸ’Έ What Does This Mean for Sellers in Chesterfield and Henrico Counties?

Sellers face the same challenges as buyers. While there is demand for housing, the economic uncertainties have put a great many buyers on the sidelines. Be sure to check out our helpful article about selling your house during the Corona Virus pandemic.

We put our experience to work for you! Give us a call today and we can answer all your questions about selling your home given the current market conditions.

🏑 Chesterfield County Homes for Sale

Here are the most recent home listings just added to the database in the median sale price range for Chesterfield County – all homes here are priced at $274,385 or less.


🏑 Henrico County Homes for Sale

Here are the most recent home listings just added to the database in the median sale price range for Henrico County – all homes here are priced at 275,000 or less.


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