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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Chatham County is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

Housing Prices in Chatham County, NC

How much do homes in Chatham County, NC cost?

Median Sold Price

$546,801

$239/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$26,801(+5.2%)

Key Takeaway

Homes in Chatham County have sold for 5.2% more than they did a year ago.

Summary: The median home sold price in Chatham County was $546,801 in May 2024, up 5.2% from last year, and the median price per square foot was $239.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $330.7K$217.5K
-34.2%
2 $290K$311.5K
+7.4%
3 $449.1K$451K
0.4%
4 $760K$780K
+2.6%
5+ $720K$869K
+20.7%

Summary: Chatham County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 34.2%, 2 bedroom homes increased by 7.4%, 3 bedroom homes increased by 0.4%, 4 bedroom homes increased by 2.6%, and 5+ bedroom homes increased by 20.7%.

Median Sold Price Compared To Nearby Counties

Moore County
+6.9%
Orange County
+6.8%
Chatham County
+5.2%
Lee County
+4.9%
Alamance County
-1.0%

Housing Supply in Chatham County, NC

How many homes are available in Chatham County, NC?

Number of Homes For Sale

Apr 2024May 2024CHANGE
263246-6.5%

Summary: The Chatham County real estate market had 246 homes for sale in May 2024, a 6.5% decrease compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 11
0.0%
2 2118
-14.3%
3 10999
-9.2%
4 10194
-6.9%
5+ 3134
+9.7%

Summary: The Chatham County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 14.3%, 3 bedroom homes decreased by 9.2%, 4 bedroom homes decreased by 6.9%, and 5+ bedroom homes increased by 9.7%.

Number of Homes Sold

Apr 2024May 2024CHANGE
4457+29.5%

Asking Price vs. Sold Price

30 Homes Were Sold
Under Asking

15 Homes Were Sold
At Asking

12 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Chatham County, you may be able to get a good deal. 52.6% of homes here sold below asking price last month.

Summary: A total of 57 homes were sold or pending in Chatham County in May 2024, up by 29.5% month-over-month. Of the 57 sold homes, 53% were sold under asking, 26% were sold at asking, and 21% were sold over asking.

Days on Market for Chatham County, NC

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

Average Sale Time

May 2023May 2024CHANGE
155 Days33 Days-78.4%

Summary: Homes in Chatham County had an average of 33 days on market in May 2024, down by 78.4% compared to last year.

Breakdown of Home Sale Times

39 Homes Were Sold
Under 30 Days

12 Homes Were Sold
In 30 - 90 Days

6 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 57 homes were sold in Chatham County; 68% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 11% 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

Newest Listings in Chatham County, NC

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