Welcome to this month’s ChesterfieldΒ andΒ Henrico Counties real estate market report, presented to you by The Wilson Group, Let Us Put Our Experience To Work For You!

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πŸ“Š Chesterfield County Housing Stats

The average sale price for single family homes in Chesterfield County, Virginia, ended the month of May 2020 at $310,537, up 3.3% from May 2019. The average list price during that same period was $309,132, an increase of 2.85% from one year ago.

There were a total of 549 units sold during May, 53 of these were attached units, and the remaining 496 were detached units. There were a total of 13 condos sold last month.

The average sale price to list ratio was 100.3% at the end of May, homes stayed on the market an average of 24 days before being sold.

There were only 701 new listings that hit the market last month, a slowdown from the previous May total of 963. The Covid-19 pandemic slowed down most of the buying and selling activity last month.

🏘 Chesterfield Detached Housing Statistics

There were 496 detached units sold in Chesterfield County during the month of May, a slowdown from the 600 that were sold during May 2019. Detached units sold for an average sale price of $316,318, an increase of 3.39% from one year ago.

There were nine two-bedroom or less two bedrooms detached homes sold last month, down from 11 during this time last year. The average sale price of two-bedroom or less detached housing was $196,328, an increase of 37.14% from $143,164, the previous May.

There were 178 detached three-bedroom homes sold in Chesterfield County last month, a drop from 208 sold during May 2019. The average sale price for three-bedroom detached housing was $237,247, a slight decrease from the $237,598 average during this time last year.

A total of 309 four-bedroom or more detached homes sold in May 2020 in Chesterfield County, down from 381 sold the previous May. The average sale price for four-bedroom or more homes was $365,361, a year to year increase from $347,945.

🏘 Chesterfield Attached Housing Statistics

The average sale price for attached housing in Chesterfield County at the end of May 2020 was $256,435, this is a slight year to year increase of 0.14% from $256,072. There were a total of 53 attached units sold last month, a decrease of 29.33% from 75 one year ago.

There were a total of four two-bedroom or less homes sold during May in Chesterfield County, a decrease from 11 sold the previous May.Β  The average sale price of two-bedroom or less homes began the month of June at $208,048, a drop of 7.26% from $225,323 this time last year.

A total of 30 three-bedroom attached units sold in Chesterfield County during May 2020, an increase of one from the 29 sold the previous may. The average sale price for attached three-bedroom homes was $259,694, which is an increase of 2.9% from the average of $252,370 one year ago.

There were only six four-bedroom or more attached homes sold last month, an increase from five during this same period one year ago. The average sale price for four-bedroom or more attached homes was $280,132, an increase of 15% from $243,506 one year ago.

Chesterfield County Condo Stats

There were only 13 condos sold in Chesterfield County last month, a slowdown from the 30 sold one year ago. Condo sales prices average $252,866, also a decrease of 7.51% from $273,387.

πŸ“Š Henrico County Housing Stats

The average sale price for homes in Henrico County, Virginia, ended the month of May at $312,548, a slight year to year increase of 1.43% from $308,130.

There were a total of 422 units sold during May, also a slowdown compared to the 517 sold this month one year ago. Detached units made up the majority of sales with 345, a decrease from 400 one year ago. There were 77 attached units sold last month, a decrease from 117 sold the previous May.

Sellers were getting 100.2% of their original list price for their homes, the average list price for sellers ended May at $312,399, an increase of 1.24% over the last 12 months. Also, homes stayed on the market an average of 22 days before being sold.

There were a total of 532 homes that went under contract during May 2020, a slight drop from the 585 units sold during May 2019. A total of 449 new listings hit the market last month, a drop of 30.28% when compared to this time last year.

🏘 Henrico County Detached Homes Statistics

There were a total of 12 two-bedroom or less detached homes sold in Henrico County during May 2020, compared to 26 during May 2019. Two-bedroom or less homes sold for an average of $184,146, an increase from the average of $153,514 one year ago.

There were 149 three-bedroom detached homes sold in Henrico County last month, a decrease from the 169 sold at this time last year. The average sale price for three-bedroom detached homes was $237,017, a slight increase from the average of $236,677 twelve months ago.

There were 184 four-bedroom or more detached homes sold last month, a decrease from 205 during May of 2019. The average sale price of four-bedroom or more detached homes was $398,698, a decrease of 1.37% from one year ago.

🏘 Henrico County Attached Home Statistics

There were a total of 77 attached single-family homes sold in Henrico County during May 2020, a drop from 117 sold during the previous May. The attached home sales average selling price was $272,851, a slight decrease of 1.61% from $277,308.

There were only eight two-bedroom or less attached homes sold last month, only a slight decrease from nine the previous May. Attached two-bedroom or less homes sold for an average of $212,468, which is an increase from $200,111 one year ago.

There were 41 three-bedroom attached homes sold in Henrico County during May 2020, a drop from the 63 sold during May 2019. The average sale price of three-bedroom attached housing was $272,358, also a drop of 2.36% from $278,939 one year ago.

There were only five four-bedroom or more attached homes sold during May, a decrease from nine the year before. The average sales price for a four-bedroom or more attached home in Henrico County was $472,001, a fall of 8.97% from $433,138 one year ago.

Henrico County Condo Stats

In Henrico County, during May 2020 there were a total of 23 condos sold, a decrease from the 36 sold the previous May. The average sale price for condos ended the month at $251,440, a slight decrease of 1.32% from $254,795 at the end of May 2019.

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

Buyers in ChesterfieldΒ andΒ Henrico Counties can expect to see prices rising higher and inventory shrinking in most price points. However, some markets have seen a decline in prices as inventory sits on the market longer.

The Covid-19 pandemic has slowed sales and buyers are taking advantage of virtual tours to view properties. Buyers should have financing in place and be ready to act as soon as a property is found. Buyers in some areas can expect a drop off in competition as furloughs and unemployment has put many buyers in a position of having to wait.

Give us a call today and we can answer all your questions about how we help buyers safely tour properties during this uncertain time. Let us put our experience to work for you today!

 

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

Shrinking inventory is creating competition among qualified buyers and homes are on the market on average for less than 30 days before being sold. Despite the Covid-19 pandemic, people are still buying homes, and sellers who have been waiting should go ahead and get their property listed.

The Wilson Group of real estate professionals puts their experience to work for you to sell your home quickly and net you the most amount of money. Give us a call today and we can tell you how we have adapted to current marketing conditions and work to keep everyone safe when it comes to showing and selling your home. Give us a call today so we can get your home listed and marketed to the most qualified of buyers!

🏑 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 $310,537 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 $312,548 or less.


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