Is Chowan County, NC a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Chowan County is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Chowan County has remained a Seller's Market.

Key Takeaway

Chowan County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Chowan County, NC

How much do homes in Chowan County, NC cost?

Median Sold Price

$268,000

$166/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$14,000(+5.5%)

Key Takeaway

Homes in Chowan County have sold for 5.5% more than they did a year ago.

Summary: The median home sold price in Chowan County was $268,000 in May 2024, up 5.5% from last year, and the median price per square foot was $166.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $279K$270K
-3.2%
2 $131.2K$190K
+44.8%
3 $253K$289K
+14.2%
4 $301.7K$225K
-25.4%
5+ $497K$181K
-63.6%

Summary: Chowan County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 3.2%, 2 bedroom homes increased by 44.8%, 3 bedroom homes increased by 14.2%, 4 bedroom homes decreased by 25.4%, and 5+ bedroom homes decreased by 63.6%.

Housing Supply in Chowan County, NC

How many homes are available in Chowan County, NC?

Number of Homes For Sale

Apr 2024May 2024CHANGE
108111+2.8%

Summary: The Chowan County real estate market had 111 homes for sale in May 2024, a 2.8% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 34
+33.3%
2 1216
+33.3%
3 7167
-5.6%
4 1820
+11.1%
5+ 44
0.0%

Summary: The Chowan County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes increased by 33.3%, 3 bedroom homes decreased by 5.6%, 4 bedroom homes increased by 11.1%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Apr 2024May 2024CHANGE
1524+60.0%

Asking Price vs. Sold Price

13 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

5 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Chowan County, you may be able to get a good deal. 61.9% of homes here sold below asking price last month.

Summary: A total of 24 homes were sold or pending in Chowan County in May 2024, up by 60.0% month-over-month. Of the 21 sold homes, 62% were sold under asking, 14% were sold at asking, and 24% were sold over asking.

Days on Market for Chowan County, NC

How long does it take to sell a home in Chowan County, NC?

Average Sale Time

May 2023May 2024CHANGE
46 Days73 Days+58.4%

Summary: Homes in Chowan County had an average of 73 days on market in May 2024, up by 58.4% compared to last year.

Breakdown of Home Sale Times

12 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

7 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Chowan County are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 24 homes were sold in Chowan County; 50% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 29% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 1 Day Ago

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