$100,000
0.24 Acres
Land
Angela Abell, Listing Office: Beach Bay Realty
Is Chincoteague, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Chincoteague has remained a Seller's Market.
Key Takeaway
Chincoteague is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Chincoteague, VA
How much do homes in Chincoteague, VA cost?
Median Sold Price
$427,500
$259/sqft
Based on all homes sold in November 2024.
Difference Since Last Month
-$11,900(-2.7%)
Key Takeaway
Homes in Chincoteague have sold for 2.7% less than they did a month ago.
Summary: The median home sold price in Chincoteague was $427,500 in November 2024, down 2.7% from last month, and the median price per square foot was $259.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $369K | $427.5K | +15.9% |
| 3 Bedrooms | $605K | $407.5K | -32.6% |
| 4 Bedrooms | $378.8K | $800K | +111.2% |
| 5+ Bedrooms | - | - | N/A |
Summary: Chincoteague housing prices by bedroom type for November 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 15.9%, 3 bedroom homes decreased by 32.6%, 4 bedroom homes increased by 111.2%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Chincoteague | $439.4K | $427.5K | -2.7% |
| Chincoteague Island | $439.4K | $427.5K | -2.7% |
Housing Supply in Chincoteague, VA
How many homes are available in Chincoteague, VA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 23 | 23 | 0.0% |
Summary: The Chincoteague real estate market had 23 homes for sale in November 2024, the same as October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 9 | 9 | 0.0% |
| 3 Bedrooms | 9 | 10 | +11.1% |
| 4 Bedrooms | 4 | 3 | -25.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Chincoteague housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 11.1%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 4 | 7 | +75.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Chincoteague, you may be able to get a good deal. 57.1% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in Chincoteague in November 2024, up by 75.0% month-over-month. Of the 7 sold homes, 57% were sold under asking, 29% were sold at asking, and 14% were sold over asking.
Days on Market for Chincoteague, VA
How long does it take to sell a home in Chincoteague, VA?
Average Sale Time
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 44 Days | 82 Days | +86.6% |
Summary: Homes in Chincoteague had an average of 82 days on market in Nov 2024, up by 86.6% compared to last month.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Chincoteague are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 7 homes were sold in Chincoteague; 57% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 43% of homes were sold over 90 days.
