Is Chatham County, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Chatham County has remained a Seller's Market.
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
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
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $330.7K | $217.5K | -34.2% |
2 Bedrooms | $290K | $311.5K | +7.4% |
3 Bedrooms | $449.1K | $451K | 0.4% |
4 Bedrooms | $760K | $780K | +2.6% |
5+ Bedrooms | $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 | $420.3K | $449.4K | +6.9% |
Orange County | $560.4K | $598.4K | +6.8% |
Chatham County | $520K | $546.8K | +5.2% |
Lee County | $300.3K | $315K | +4.9% |
Alamance County | $319.6K | $316.5K | -1.0% |
Housing Supply in Chatham County, NC
How many homes are available in Chatham County, NC?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
263 | 246 | -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
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 21 | 18 | -14.3% |
3 Bedrooms | 109 | 99 | -9.2% |
4 Bedrooms | 101 | 94 | -6.9% |
5+ Bedrooms | 31 | 34 | +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 2024 | May 2024 | CHANGE |
---|---|---|
44 | 57 | +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
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 2023 | May 2024 | CHANGE |
---|---|---|
155 Days | 33 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
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.